Curvology
Wednesday, June 18th, 20145s 30s through 168 again. Was 171.3 at 150PM.
Archive for June, 2014
Fed 2015 and 2016 GDP Unchanged
Wednesday, June 18th, 2014Fed does not change 2015 and 2016 GDP forecast. WASHINGTON (MarketWatch) - Federal Reserve officials expect to raise short-term interest rates a bit faster in 2015 and 2016 than previously forecast and the central bank voted on Wednesday to reduce its bond-buying stimulus program again by $10 billion to $35 billion ...
Three Months Ago
Wednesday, June 18th, 2014Just three months have passed since newly inaugurated Fed Chairman Yellen roiled the markets with her ill placed 'six months" comment in that first meeting with the press. So here are some key levels from 150PM (ten minutes prior to that announcement; The 2 year note yielded 35.5 and the 3 ...
From the George Orwell is Smiling Somewhere Department
Wednesday, June 18th, 2014The US Patent Office found time to strip the Washington Redskins of trademarks on the team name because some apparatchik in that office said the name is offensive to Native Americans. Res ipsa loquitur.
Short Update
Wednesday, June 18th, 2014One trader in a note reports heavy buying in the three year sector.I marked the 2s 3s spread at 915AM ay just over 50 basis points. That is very wide and I think I have only seen it that wide when there is a WI roll . In addition the ...
Corporate Canary Alive and Well
Wednesday, June 18th, 2014Yesterday I wrote here and here regarding the pricing of a two tranche Target deal. The IPT was +50 and + 80 in 5s and 10s and the deal priced at +60 and +90. My favorite source pointed out the anomaly of weaker formal guidance against the early talk as ...
FX Opening Thoughts
Wednesday, June 18th, 2014Via a fully paid up subscriber: {GB} so the BoE surprised some by coming out 9-0 to remain unch which is a little bit of a head scratcher relative to Carney's comments last week but the tone was slightly hawkish which left pushed GBP through 1.6940 taking out some s/t specs ...
Corporate Issuance Via Bloomberg:
Wednesday, June 18th, 2014IBRD B'Mark Aaa/AAA long 2 yr global final spread ms -6 IBRD B'Mark Aaa/AAA 7 yr global final spread ms +7 Turkiye IsBankasi B'Mark Baa3/BBB(Fitch) 7 yr 144A Reg S ipt ms +320 area Realty Income Corporation 300mm Baa1/BNBB+ 10 yr 3 mo par call prior ...
FX
Wednesday, June 18th, 2014Via Brown Brothers Harriman The main focus today is on the FOMC meeting: the statement, forecasts, and Yellen’s press conference. Since the April meeting, nearly every inflation measure (core PCE, CPI, PPI, and the price components of the ISMs) have ticked up. The slightly stronger than expected CPI report for May that ...
Customer Flow
Wednesday, June 18th, 2014There was chunky buying of US 3 year through 10 year paper in Tokyo time as well as real money receiving in same sector. In London time Japanese buyers concentrated on the 5 year through 10 year sector as buyers. Short sterling has rallied 5 basis points to 7 basis points ...