Administrative Note
Wednesday, July 23rd, 2014Blogging will be light until July 30th and will mostly consist of stuff that I can cut and paste. See you in a week. JJJ
Archive for July, 2014
Blogging will be light until July 30th and will mostly consist of stuff that I can cut and paste. See you in a week. JJJ
Re Existing Home Sales
Tuesday, July 22nd, 2014Via TDSecurities: Existing home sales continued to rebound in June, rising 2.6% to 5.04M – the strongest pace of sales in 9 months. Gains in the existing home sales data came in both the single family and more volatile multi-family sectors, rising 2.5% and 3.4%, respectively. Stronger sales helped keep months’ ...
Corporate Bonds
Tuesday, July 22nd, 2014Corporate bond spreads have recouped the widening which occurred yesterday on geopolitical fears spawned in Ukraine and Gaza. Yesterday they were wider by one basis points to two basis points. Citibank is selling a benchmark sized 5 year note. Initial Price Talk (IPT for aficionados) is +95. One market participant anticipates ...
Economic Data Headlines
Tuesday, July 22nd, 2014Via CRT Capital: * RICHMOND FED MANUFACTURING INDEX FOR JULY 7, EST. 5 -- new orders steady 5, -- employees gains to 13 vs. 4 -- work week dips to 3 vs 5 -- wages gain to 16 vs 12 -- both prices paid and received gain ** JUNE EXISTING HOME SALES RISE 2.6% TO 5.04 MLN ...
JPM Duration Survey
Tuesday, July 22nd, 2014This time it is via Bloomberg so it should be OK. Once again I apologize for a significant error earlier. Via Bloomberg: By Robert Elson July 22 (Bloomberg) -- The JPMorgan Treasury Client Survey for the week ended July 21 vs week ended July 14. * Longs 15 vs 11 * Neutrals 45 vs 49 * Shorts ...
What to Watch For Today
Tuesday, July 22nd, 2014Via the good folks at Bloomberg: WHAT TO WATCH: * (All times New York) Economic Data * 8:30am: CPI m/m, June, est. 0.3% (prior 0.4%) * CPI Ex Food and Energy m/m, June, est. 0.2% (prior 0.3%) * CPI y/y, June, est. 2.1% (prior 2.1%) * CPI Ex Food and Energy y/y, June, est. 2% (prior 2%) * ...
Mea Maxima Culpa
Tuesday, July 22nd, 2014I sent the wrong JPM survey. I have taken it down from the blog and deeply apologize for the error. That is the most egregious mistake of round two of my blogging career.
Can Putin Survive?
Tuesday, July 22nd, 2014This is a long piece from Stratfor on the machinations which might be happening behind the scenes in the Kremlin following the downing of the Malaysian plane. The author suggests that the diplomatic disaster which has ensued might unravel the basis for Putin's power and might lead to a palace ...
July 22 2014 Opening
Tuesday, July 22nd, 2014Prices of Treasury coupon securities retreated in overnight trading. The world is still quite fragile with serious problems persisting in Ukraine and Gaza but for the moment there is a modicum of stability in the air and that stability sucked some of the air from risk averse assets. In contrast ...
Recap of Cresit Trading Yesterday
Tuesday, July 22nd, 2014Via the good folks at Bloomberg: IG CREDIT: 2015 Maturities Led Trading; NEDWBK Set to Price 2014-07-22 09:48:28.545 GMT By Robert Elson July 22 (Bloomberg) -- The final Trace count for secondary trading was $10.5b vs $9.7b Friday and $9.3b the previous Monday. 144a trading added another $1.4b of IG volume. * 10-DMA at $11.2b; 10-DMA of ...