Archive for June, 2014
Thursday, June 26th, 2014
Via Mark Chandler at Brown Brothers Harriman:
The BOE has taken some action to help cool off the UK housing market, as widely expected. The so-called macro-prudential measures from the BOE’s Financial Policy Committee include limiting a bank’s the share of mortgages at 4.5 times income to no more than 15% ...
Posted in Uncategorized | Comments Off on FX
Thursday, June 26th, 2014
Via Bloomberg:
IG CREDIT: Highest Volume of the Month; Ziraat Set to Price
2014-06-26 10:21:38.142 GMT
By Robert Elson
June 26 (Bloomberg) -- The final Trace count for secondary
trading was $16.1b vs $15.6b Tuesday and $15b the previous
Wednesday. 10-DMA at $12.9b; 10-DMA of only Wednesday sessions
$15.1b.
* PEMEX 3.50% 2023 topped the most active list; ...
Posted in Uncategorized | Comments Off on Corporate Bond market Recap
Thursday, June 26th, 2014
Prices of Treasury coupon securities have registered very small mixed changes in overseas trading. As I noted here there was very little economic data to provide a focus. The UK has acted to restrain the risky mortgage market but that to has had little impact on trading so I guess ...
Posted in Uncategorized | Comments Off on June 26 2014 Opening
Thursday, June 26th, 2014
The UK has taken steps to limit risky mortgage loans by banks and has an imposed a limitation on loans banks make which exceed a certain ratio of the loan to the borrowers income.
Via the WSJ:
U.K. News
Bank of England Tightens Mortgage- Lending Rules
New Rules to Prevent too Many Homebuyers Taking ...
Posted in Uncategorized | Comments Off on UK Limits Risky Mortgage Lending
Thursday, June 26th, 2014
I am sitting here at my work station and is my custom I am sifting through the news and my email to see what happened overnight and what the meaningful news is from the overnight session. I found this excerpt from a note from a futures broker interesting. It was ...
Posted in Uncategorized | Comments Off on Not Much Happening
Wednesday, June 25th, 2014
By Isaac Aquino
June 26 (Bloomberg) -- Japanese investors were net
buyers of foreign bonds during the week ended June 20 according
to figures released by the Ministry of Finance in Tokyo.
* Bought 1486.5b yen ($14.6b) in overseas bonds and notes
* Third consecutive week of net bond purchases
* Largest net bond purchase since week ending Aug. 9, 2013
* Foreign investors sold 475.2b yen in Japanese bonds
* Largest net bond sale since week ending Jan. 10, 2014
* Bought 295.6b yen in Japanese stocks
Posted in Uncategorized | Comments Off on Japanese Investors Search Overseas for Yield
Wednesday, June 25th, 2014
Puerto Rico is set to restructure some debt which will cause losses for once happy holders. And I hope I got the Spanish correct in the title.
Via the WSJ:
Puerto Rico Moves to Restructure Debt
Proposal Could Lead to Losses for Investors Holding Bonds from Power, Transportation Agencies
By
Aaron Kuriloff
Updated June 25, 2014 ...
Posted in Uncategorized | Comments Off on Bonos de basura
Wednesday, June 25th, 2014
Via RBS Securities
Our Treasury flows were real money buying of 10’s and 30’s and selling of 7’s while fast money was selling 5’s. In swaps, we saw fast and real money selling invoice spreads while we saw receiving in 2yr through 5yr rate by a mixture of accounts. In TIPS, ...
Posted in Uncategorized | Comments Off on Flow Stuff
Wednesday, June 25th, 2014
Via CRT Capital
*** A lackluster takedown with non-dealer bidding 61.8% vs. 65% norm and a 0.1 bp tail. ***
* 5-year auction stops at 1.670% vs. a 1.669% 1 pm bid WI.
* Dealers were awarded 38.2% vs. 35% average of last four 5-year auctions.
* Indirects get 52.5% vs. 49% norm.
* Directs ...
Posted in Uncategorized | Comments Off on Five year Auction Result
Wednesday, June 25th, 2014
Via FT
June 25, 2014 3:47 pm
Isis should not be America’s foreign policy priority
By Francis FukuyamaAuthor alerts
Allies the US is sworn to defend are threatened by China and Russia, writes Francis Fukuyama
For some, it will always be 1939. We are forever telling ourselves how, in the 1930s, the US and Britain ...
Posted in Uncategorized | Comments Off on Geopolitcal Treatise (And Interesting)