Fed Speakers With No Insight Today
Tuesday, September 23rd, 2014*POWELL DOESN’T COMMENT ON OUTLOOK FOR ECONOMY, FED POLICY *GEORGE TEXT MAKES NO REFERENCE TO U.S. ECONOMY, MONETARY POLICY *BULLARD DOESN’T COMMENT ON OUTLOOK FOR ECONOMY, FED POLICY
Archive for September, 2014
*POWELL DOESN’T COMMENT ON OUTLOOK FOR ECONOMY, FED POLICY *GEORGE TEXT MAKES NO REFERENCE TO U.S. ECONOMY, MONETARY POLICY *BULLARD DOESN’T COMMENT ON OUTLOOK FOR ECONOMY, FED POLICY
Interesting Hilsenrath
Tuesday, September 23rd, 2014Hilsenrath opines properly that without the retiring Plosser and the forced retirement of Fisher early next year the DOT PLOT would be about 25 basis points lower. Via Jon Hilsenrath at the WSJ: HILSENRATH’S TAKE: WITHOUT TWO HAWKS, FED RATE CONSENSUS A QUARTER POINT LOWER The Federal Reserve is about to lose two ...
What to Watch Today (Fed Speakers with Logorrhea)
Tuesday, September 23rd, 2014Via Bloomberg: WHAT TO WATCH: * (All times New York) Economic Data * 9:00am: FHFA House Price Index, July, est. 0.5% (prior 0.4%) * 9:45am: Markit US Manufacturing PMI, Sept., est. 58 (prior 57.9) * 10:00am: Richmond Fed Manufacturing Index, Sept., est. 10 (prior 12) Central Banks * 9:00am: Fed’s Bullard speaks in St. Louis * 9:20am: Fed’s Powell speaks in ...
JPM Duration Survey
Tuesday, September 23rd, 2014All Clients Long Neutral Short Sept 22 15 47 38 Sept 15 13 45 42 Sept 08 11 53 36 Active Clients Sept 22 8 38 54 Sept15 8 23 69 Sept 08 8 46 46 In the all clients survey, the percent of longs increased by 2, the percent of neutrals increased by 2, and the percent ...
FX
Tuesday, September 23rd, 2014Via Marc Chandler at Brown Brothers Harriman: Dollar Broadly Weaker In Consolidative Trade - NY Fed's Dudley, like Yellen played down the Fed's own forecasts - Many investors have moved on from simply focusing on the timing of the first Fed hike to considering the pace of the tightening and the terminal rate ...
Secondary Market IG Trading Yesterday
Tuesday, September 23rd, 2014Via Bloomberg: IG CREDIT: WFC, RIG Most Active; Issuance Remains the Focus 2014-09-23 09:56:01.435 GMT By Robert Elson Sept. 23 (Bloomberg) -- The final Trace count for secondary trading was $10.6b vs $10.5b Friday and $12.6b the previous Monday. 10-DMA $13b; 10-DMA of only Monday sessions $10.1b. * 144a trading added another $1.8b of IG volume * WFC ...
September 23 2014 Opening
Tuesday, September 23rd, 2014Prices of Treasury coupon securities have rallied in an abbreviated (Tokyo closed ) overnight trading session. It appears that markets are accentuating the negative as weak PMIs in Europe have trumped a better than expected HSBC PMI in China. The HSBC PMI for China registered 50.5 in September beating expectations ...
Incredible Shrinking Bond Business
Tuesday, September 23rd, 2014This is a great article on the shrinking and declining fixed income business and the changes in trading patterns since the financial crisis as firms devote less capital to the sector. This is a worthwhile read. Via Bloomberg: Shrinking Bond Desks Taken by Journeymen as Masters Fade By Nabila Ahmed Sep 22, 2014 8:33 ...
Young Man with a Mission
Monday, September 22nd, 2014The FT has a very fascinating story about Joshua Wong who is a 17 year old college freshman in Hong Kong. Mr Wong has one very large set of testicular appendages as he is openly and actively challenging the Communist government's voting scheme in Hong Kong. According to the FT, ...
End of Day Analysis
Monday, September 22nd, 2014Via Richard Gilhooly at TDSecurities: Treasuries continued the rally from Friday, with intermediates taking over as the driver after a strong bond-led rally on Friday. 5yr notes had traded up to 1.88% yield overnight on Thursday, following the Scottish vote, but rallied to 1.81% on Friday and reached 1.77% today and ...