Archive for July, 2014
Friday, July 18th, 2014
Via a fully paid up subscriber:
EU} In EURUSD we spent most of Ldn pinned on 1.3520s but we managed to get through stops and fill in some bids into 1.3500 there are more below 1.3480-85 where we have bids than stops. I should add that we did see decent buyers ...
Posted in Uncategorized | Comments Off on FX Thoughts
Friday, July 18th, 2014
The 1 percent move in the S and P yesterday ended the longest streak on non one percent moves for that index since the mid 1990s. I received this from a fully paid up subscriber via the Macro man blog.
Via Macro Man:
The streak is dead.
It took red headline flashes of ...
Posted in Uncategorized | Comments Off on The Streak is Dead
Friday, July 18th, 2014
Via the Bloomberg:
UST MORNING CALL: ‘Violent Intraday Swings’ Still Possible
2014-07-18 12:11:11.455 GMT
By Monika Grabek
July 18 (Bloomberg) -- “Today is a day to stay nimble and
small. Volatility has crept back into the market though it is
subdued this morning. My instinct is that we are not yet
finished and we could have violent ...
Posted in Uncategorized | Comments Off on Strategists Calls
Friday, July 18th, 2014
Via David Ader at CRT Capital:
OVERNIGHT FLOWS: Treasury yields backed up overnight on Asian profit-taking. Overnight volumes were strong with cash trading at 133% of the 10-day moving-average, while TY came in at 147% of norms. 10s were the most active issue, taking a 33% marketshare, while 5s were a ...
Posted in Uncategorized | Comments Off on Overnight Volume and Flows
Friday, July 18th, 2014
Via Mark Chandler at Brown Brothers
Geopolitical events are overshadowing a light economic calendar ahead of the weekend. The shooting down of the Malaysian plane over Ukraine and the Israel's launch of a ground assault in Gaza dominate the focus. After a strong response that saw US 10-year yields fall ...
Posted in Uncategorized | Comments Off on FX
Friday, July 18th, 2014
Via Bloomberg:
By Robert Elson
July 18 (Bloomberg) -- Dealer positions in corporate bonds
fell $3.8b to $36.5b as of July 9. $45.9b, seen Mar 5, was the
high for the series Fed began April 2013; $23b low was Aug 28.
* Short issues at $2.9b, down $91m; $3.4b high was March 5,
$1.2b low Aug ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, July 18th, 2014
Via Bloomberg:
IG CREDIT: Short MS Issues Led Trading; Spreads Widen
2014-07-18 09:43:45.686 GMT
By Robert Elson
July 18 (Bloomberg) -- The final Trace count for secondary
trading was $12.7b vs $12.8b Wednesday and $9.7b the previous
Thursday. 10-DMA at $11.4b vs $10.6b, as $5.5b on July 3 falls
from the count; 10-DMA of only Thursday sessions ...
Posted in Uncategorized | Comments Off on Recap of Investment Grade Corporates of Yesterday
Friday, July 18th, 2014
Prices of Treasury coupon securities tumbled in overseas trading as the flight to quality bid necessitated by the downing of the Malaysian airliner and the incursion into Gaza by Israel has faded . Equity markets are lower but have rebounded from their worst levels. I had observed the Nikkei down ...
Posted in Uncategorized | Comments Off on July 18 2014 Opening
Thursday, July 17th, 2014
The Nikkei is down hard and the Hang Seng is down moderately. S and P futures have rebounded from early lows and are only down 2 points.
One dealer reports Asian bank selling of decent size in 10 years and real money Asia sellers of bonds. The market is off about ...
Posted in Uncategorized | Comments Off on Early Tokyo Flows
Thursday, July 17th, 2014
Via Merrill Lynch Research:
Geopolitical risks escalate. Following the tragic loss of a large Malaysian Airlines aircraft over eastern Ukraine risky asset classes sold off significantly, as stocks declined 1.2% on the day (S&P 500), IG credit spreads widened 3.5bps and HY prices declined about 0.75pt. At the same time hedges ...
Posted in Uncategorized | Comments Off on Merrill Lynch On Credit Spreads