Archive for September, 2014
Thursday, September 11th, 2014
CRT Capital's David Ader and Ian Lyngen surveyed clients regarding the outcome of the upcoming FOMC meeting. Here are the results.
Via David Ader and Ian Lyngen at CRT Capital:
Today at 11:40 AM
** We've just conducted a seat-of-the-pants survey asking for odds on a change to the 'considerable' period language at ...
Posted in Uncategorized | Comments Off on FOMC Survey
Thursday, September 11th, 2014
Via Ian Lyngen at CRT Capital:
We are constructive on this afternoon’s long-bond auction and see the most meaningful risk as a strong foreign bid that prompts a stop-through. Yesterday’s high indirect award in 10s was consistent with overseas buying as yields have back-up. We’ve heard reports of foreign dip-buying during ...
Posted in Uncategorized | Comments Off on CRT Capital on the Bond Auction
Thursday, September 11th, 2014
One fully paid up subscriber reporting a large domestic based seller of off the run bonds. He didnt say this but maybe they are making room for a 100PM bid.
Posted in Uncategorized | Comments Off on Large Seller Off the Run Bonds
Thursday, September 11th, 2014
Equity futures are wobbly this morning. That is not my area of expertise but a fully paid up subscriber offered some thoughts. He noted that the last dip in the market was bought and now there is no real follow through as every time S and P pokes above 2000 ...
Posted in Uncategorized | Comments Off on Equities Wobble
Thursday, September 11th, 2014
Via Jon Hilsenrath and WSJ:
HILSENRATH’S TAKE: CAN THE FED DROP “CONSIDERABLE TIME” WITHOUT SPOOKING MARKETS?
The watchwords in U.S. central banking this week are “considerable time.”
As the Wall Street Journal reported Friday, a growing number of Federal Reserve officials want to move further away from the forward guidance on interest rates that ...
Posted in Uncategorized | Comments Off on Hilsenrath Opines on “Considerable Time” Phrase
Thursday, September 11th, 2014
Long dated bank and finance paper opening the day unchanged in quiet trading. The IG 22 is 1/2 basis point wider at 58 3/4 59 1/4.
Posted in Uncategorized | Comments Off on Corporate Bonds
Thursday, September 11th, 2014
Via Bloomberg:
IG CREDIT: Weekly Volume Tops $30b for 12th Week YTD
2014-09-11 11:33:06.551 GMT
By Lisa Loray
Sept. 11 (Bloomberg) -- $11.675b priced from seven issuers
yesterday, bringing weekly volume to $31.625b, monthly volume
$89.725b and YTD $1.0169t.
* The majority of Wednesday’s volume (79%) was from non-
domestic issuers
* One FRN priced $250m; YTD FRN volume ...
Posted in Uncategorized | Comments Off on Recap of Investment Grade Credit Yesterday
Thursday, September 11th, 2014
Via the good folks at Bloomberg:
#$2b Kingdom of Sweden (SWED) Aaa/AAA CS/GS/JPM
144a/Reg-S 2Y MS -12 FINAL TERMS
$b Banco BTG Pactual (BTGPBZ) Ba3/na/B+
BBSecs/BAML/Brad/BTG/C/Santan
144a/Reg-S Perp/NC5 Additional Tier I Junior Sub
8.75% area GUIDANCE
$b ICICI Bank / Dubai (ICICI) Baa2/BBB- BAML/C/DB/HSBC
144a/Reg-S 5.5Y IPT +200area
$b CREDIT AGRICOLE SA (ACAFP) na/na/BB+ CrAg/C/CS/MS
...
Posted in Uncategorized | Comments Off on Early Corporate Bond List
Thursday, September 11th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 8:30am: Initial Jobless Claims, Sept. 6, est. 300k (prior
302k)
* Continuing Claims, Aug. 30, est. 2.49m (prior 2.464m)
* 8:45am: Bloomberg U.S. Economic Survey, Sept.
* 9:45am: Bloomberg Consumer Comfort, Sept. 7 (prior 37.7)
* 2:00pm: Monthly Budget Statement, Aug., est. -$130b (prior -
$147.914b)
Central Banks
* ...
Posted in Uncategorized | Comments Off on What to Watch Today
Thursday, September 11th, 2014
Via David Ader CRT Capital
* 30s – The long-bond has returned to the middle of the recent range, backing up after reaching the lowest yield since May ‘13. Momentum has extended in favor of higher yields as the long-bond underperforms on the curve. For initial support we’re watching the 40-day ...
Posted in Uncategorized | Comments Off on 30 Year Technicals