Archive for September, 2014
Tuesday, September 30th, 2014
Via Marc Chandler at Brown Brothers Harriman:
Dollar Up on Disappointing Euro Area and Japanese Data
- The market is particularly sensitive to developments that could spur a strong policy response at the ECB's meeting on Thursday – today’s CPI figures, for example
- The euro drew little comfort from the constructive ...
Posted in Uncategorized | Comments Off on FX
Tuesday, September 30th, 2014
Prices of Treasury coupon securities have posted chunky losses in overnight trading and reversed a smidgeon of the recent pronounced curve flattening. I can not pin point the proximate cause of the decline in prices and would attribute it to position squaring in advance of the quarter end. There is ...
Posted in Uncategorized | Comments Off on September 30 2014 Opening
Monday, September 29th, 2014
There is just a little more than a month left until the midterm election and leading modelers have tweaked their models and have declared that the odds are increasing that Harry Reid will lose his job as Majority Leader of the Senate. Polling results have recently turned favorable for the ...
Posted in Uncategorized | Comments Off on GOP Odds of Taking Senate Increasing
Monday, September 29th, 2014
The civil disobedience movement in Hong Kong which is fighting the Communist central government for the democracy which that central government promised when the UK ceded control to China in 1997 has demanded that the government meet their demands for genuine democracy and they have called for the resignation of ...
Posted in Uncategorized | Comments Off on Hong Kong Deadline
Monday, September 29th, 2014
Via FT:
Last updated: September 29, 2014 4:47 pm
Fed ‘repo’ tests drive scramble for safety
By Michael Mackenzie and Tracy Alloway in New YorkAuthor alerts
Investors are scrambling for safe assets ahead of the end of the financial quarter, with the scrum for securities exacerbated by the Federal Reserve’s testing of a key ...
Posted in Uncategorized | Comments Off on Regarding Negative T Bill Rates
Monday, September 29th, 2014
Via Bloomberg:
IG CREDIT: No Deals to Price Today; 2 Expected Tomorrow
2014-09-29 18:00:57.393 GMT
By Lisa Loray
Sept. 29 (Bloomberg) -- No deals are expected to price
today, while 2 have been added to tomorrow’s calendar.
* After tomorrow’s issuance, Sept. will be the most active
month YTD
* To Price Tomorrow
* Dexia Credit Local (DEXGRP) $bench ...
Posted in Uncategorized | Comments Off on Corporate Bond Issuance Today: Nada
Monday, September 29th, 2014
Via Richard Gilhooly at TDSecurities:
The Treasury market rallied strongly from about 5am until 9am NYT, driven by weakness in global equities that appeared to stem from political unrest in Hong Kong and a resulting slump in HSI. The remainder of the day saw yields edge slightly higher as US equities ...
Posted in Uncategorized | 1 Comment »
Monday, September 29th, 2014
Via Robert Sinche at Pierpont Securities:
CHINA: The final September reading for the HSBC/Markit Manufacturing index is due, with the preliminary reading of 50.5 a surprise uptick from 50.2 in August.
JAPAN: August data for the Jobs Market, Retail Sales, Industrial Production and Labor Cash earnings. The BBerg consensus expects IP to ...
Posted in Uncategorized | Comments Off on What to Watch for Overnight
Monday, September 29th, 2014
Via Blomberg:
RESEARCH ROUNDUP: UST Yields, Positioning Views
2014-09-29 16:50:19.767 GMT
By Monika Grabek
Sept. 29 (Bloomberg) -- Strategist views on UST yields and
curve spreads from published research:
* BofAML
* UST 30Y gains “showing signs of reversal,” as price
action in UST 30Y has become more intuitive in
September, with positive data surprises spurring
selloffs, strategist Shyam Rajan ...
Posted in Uncategorized | Comments Off on Research Roundup
Monday, September 29th, 2014
Via the WSJ:
Asia News
Hong Kong Protests May Hurt Retailers
Protests Come at Beginning of Weeklong National Day Holiday in China
By
Kathy Chu And
Joanne Chiu
Updated Sept. 29, 2014 9:26 a.m. ET
HONG KONG—Tension following clashes at pro-democracy protests is expected to deal a blow to Hong Kong's retail sector during one of the city's ...
Posted in Uncategorized | Comments Off on Impact of Turmoil in Hong Kong on HK Economy