Archive for April, 2014
Wednesday, April 23rd, 2014
A partial list of some of the big names reporting earnings today via MNI:
US EARNINGS: Some of biggest names to report Q1 earnings near-term include:
Date Company Estimate/share
Apr 23 Dow Chemical Co $0.71
Apr 23 Procter & Gamble Co $1.02
Apr 23 Texas Instruments Inc $0.41
Apr 23 Apple Inc $10.16
Apr 23 E*Trade Financial ...
Posted in Uncategorized | Comments Off on Earnings Reports Today
Tuesday, April 22nd, 2014
Via Pierpont Securities' Robert Sinche:
AUSTRALIA: CPI report for 1Q2014. While there are 3 measures, most focus is on the Trimmed Mean index, with the BBerg consensus expecting an acceleration to 2.9%, right near the 3% top on the RBA’s preferred range. The weaker AUD (down about 15% YOY versus the ...
Posted in Uncategorized | Comments Off on Overnight Data Watching
Tuesday, April 22nd, 2014
I apologize for the format as I could not get this to print any other way. Think of it as an E E Cummings poem (and maybe I should have written his name in lower case). As an aside I would often quote a line from E E Cummings when ...
Posted in Uncategorized | 4 Comments »
Tuesday, April 22nd, 2014
Mortgages are two ticks to three ticks tighter to Treasuries amidst light activity. The 3 .5s and 4s are marginally better bid then their stack cousins. Origination is light.The 15 year sector is also better versus Treasuries by 2 ticks to 3 ticks.
Posted in Uncategorized | Comments Off on MBS
Tuesday, April 22nd, 2014
Via a fully paid up subscriber:
*BERNANKE: FED ACTIONS DIDN'T FAVOR WALL STREET OVER MAIN STREET
13) *BERNANKE SAYS RISKS OF INFLATION BELOW ZERO `QUITE LOW'
14) *BERNANKE PREDICTS INFLATION TO SPEED UP TO 2%
15) *BERNANKE SAYS NEITHER INFLATION NOR DEFLATION BIG RISK TO ...
Posted in Uncategorized | Comments Off on Bernanke Still Speaking
Tuesday, April 22nd, 2014
Via RBS Securities:
Treasury auctioned $32bn in new 2yr notes at 0.447% versus a 1:00pm level of 0.445% so the auction came with a 0.2bp tail.
0.2bp tail (6-auction average 0.2bp thru)
Bid/Cover 3.35X (6-auction average 3.46X) *below average*
Indirects 23.4% (6-auction average 29.5%) *below average
Directs 19.0% (6-auction average 25.3%) *below average
Dealers ...
Posted in Uncategorized | Comments Off on Two Year Note Result
Tuesday, April 22nd, 2014
Via CRT Capital:
• 2-years have recently met solid receptions with stop-throughs at every auction since July – which stopped on-the-screws. 2s haven’t tailed since June 2013.
• Indirect awards have been increasing recently, taking an average of 23% at the last four auctions vs. 27% at the prior four. The non-dealer ...
Posted in Uncategorized | Comments Off on Two Year Auction Primer
Tuesday, April 22nd, 2014
The bond market possesses a merdurinous tone today as it probes toward the upper end of the trading range. The 10 year note is a tad shy of 2.75. The shape of the curve is not dramatically different than what is was when I wrote early this morning. The 5 ...
Posted in Uncategorized | 6 Comments »
Tuesday, April 22nd, 2014
Via MNI:
Linde:ECB May Be 'Open to Action' If No April Or May HICP Rise
2014-04-22 12:35:01.58 GMT
By David Barwick
WASHINGTON (MNI) - European Central Bank Governing Council member Luis Linde has told MNI that if Eurozone consumer prices do not improve in April and May, then the ECB may consider the state ...
Posted in Uncategorized | Comments Off on ECB Apparatchik Open to Action if Inflation Stays Low
Tuesday, April 22nd, 2014
Via Bloomberg:
RATES: Net Shorts at Highest Level Since May 2013, JPM Says
2014-04-22 11:20:43.411 GMT
By Robert Elson
April 22 (Bloomberg) -- The JPMorgan Treasury Client Survey
for the week ended April 21 vs week ended April 14.
* Longs unchanged at 11
* Neutrals 55 vs 57
* Shorts 34 vs 32
* Net longs -23 vs ...
Posted in Uncategorized | Comments Off on JPM Duration Survey