Monsanto Launch
Thursday, June 26th, 2014Vi Nonsanto 4.5 bln 7 part Launch: $500mm 3yr +30 $500mm 5yr +50 $500mm 7yr +65 $750mm 10yr +85 $500mm 20yr +90 $1bn 30yr +110 $750mm 50yr +140a good folks at Bloomberg:
Archive for June, 2014
Vi Nonsanto 4.5 bln 7 part Launch: $500mm 3yr +30 $500mm 5yr +50 $500mm 7yr +65 $750mm 10yr +85 $500mm 20yr +90 $1bn 30yr +110 $750mm 50yr +140a good folks at Bloomberg:
Updated Monsanto Guidance
Thursday, June 26th, 2014Via Bloomberg: 3yr +35 area 5yr +55 area 7yr +70 area 10yr +90 area 20yr +95 area 30yr +115 area 50yr +145 area area is +/- 5bps on all This was the initial talk pt’s3yr: 45A 5yr: 65A 7yr: 85A 10yr: 105A 20yr: 115A 30yr: 130A 50yr: 160A
Swap Spreads
Thursday, June 26th, 2014Swap spreads are mixed. Two year spreads and five year spreads are in about 1/4 while 10s and 30s are wider by 1/4. Hedge funds have been observed receiving across the curve.
Seven Year Auction Cheat Sheet
Thursday, June 26th, 2014Via CRT Capital: e Today at 10:34 AM • 7-year auctions have recently met strong receptions with four of the last five stopping-through for an average of 0.4 bp. • Indirect bidding has been increasing at 7s, taking 43.2% at the last four auctions vs. 41.5% at the prior four. Direct bidding ...
Corporate Bonds
Thursday, June 26th, 2014Corporate bonds are mostly unchanged today as the secondary market marks time waiting for quarter end. There is a chunky deal today from Monsanto which will raise $4.5 billion across the curve. Here is the initial price talk from Bloomberg: pt's3yr: 45A 5yr: 65A 7yr: 85A 10yr: 105A 20yr: 115A 30yr: 130A 50yr: 160A My favorite corporate bond source ...
Update
Thursday, June 26th, 2014The Treasury market has rallied smartly following the release of income and spending data this morning. The piece of that data which feeds into GDP prognostications is real consumer spending (inflation adjusted) and that metric has now declined two consecutive months in April and May. That weakness will force economists ...
Today’s Corporate List Thus Far
Thursday, June 26th, 2014Via Bloomberg: Turkiye Ziraat Bankasi B'Mark Baa3/BBB- 5 yr 144A Reg S final guidance ms +262.5-275 (will price in range) Monsanto B'Mark A3/BBB+ 7 part 3,5,10,20,30 & 50 yr 3mo par call 10yr, 6mo par call 20yr, 6mo par call 30yr, 6mo par call 50yr ipt 3 yr 45 5 yr 65 7 yr 85 10 yr 105 20 ...
What to Watch Today
Thursday, June 26th, 2014Via the Good Folks At Bloomberg WHAT TO WATCH: * (All times New York) Economic Data * 8:30am: Initial Jobless Claims, June 21, est 310k (prior 312k) * Continuing Claims, June 14, est. 2.560m (prior 2.561m) * 8:30am: Personal Income, May, est. 0.4% (prior 0.3%) * Personal Spending, May, est. 0.4% (prior -0.1%) * PCE Deflator m/m, May, est. ...
Overnigt Flows
Thursday, June 26th, 2014Via CRT Capital: OVERNIGHT FLOWS: The Treasury curve was modestly flatter overnight as the long-bond continues to outperform. Overnight volumes were light with cash trading at 85% of the 10-day moving-average, while TY came in at 66% of norms. 5s were the most active issue with a 29% marketshare, but more ...
Comments on Move to Limit Risky Mortgage lending in UK
Thursday, June 26th, 2014Via TD Securities: GBPThe BoE’s Financial Policy Committee announced tweaks to macroprudential policy aimed at pre-empting risks building in the economy and ensuring more consistent risk taking limits across banks. The FPC will limit banks to make no more than 15% of their new residential mortgages at a loan-to-income ratio over ...