Archive for September, 2014
Thursday, September 4th, 2014
Via the Good Folks at Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 7:30am: Challenger Job Cuts y/y, Aug. (prior 24.4%)
* 7:30am: RBC Consumer Outlook Index, Sept. (prior 51.5)
* 8:15am: ADP Employment Change, Aug., est. 220k (prior 218k)
* 8:30am: Trade Balance, July, est. -$42.4b (prior -$41.5b)
* 8:30am: Initial Jobless Claims, ...
Posted in Uncategorized | Comments Off on What to Watch Today
Thursday, September 4th, 2014
Bloomberg has posted an informative article on its website regarding summer travel as a signal of economic optimism. The story notes the the May through July period registered the highest level of booking since 1987. Similarly year to date demand through July is 4 percent ahead of 2013 levels. Finally, ...
Posted in Uncategorized | Comments Off on Traveling Man
Thursday, September 4th, 2014
Via Marc Chandler at Brown Brothers Harriman:
ECB and More
- There are four central bank meetings today, and the US ADP estimate steals much of the thunder from tomorrow's jobs report
- We think that improving the likelihood of strong participation at the TLTRO is a key goal of today's ECB ...
Posted in Uncategorized | Comments Off on FX
Thursday, September 4th, 2014
One correspondent notes that the 10 year Bund has a strong bid this morning. He attributes that to supply in the long end of the French market which many missed sparking the buying of Bunds. There was also well received 10 year and 30 year supply in Spain which is ...
Posted in Uncategorized | Comments Off on Opening Addendum
Thursday, September 4th, 2014
Via Bloomberg:
IG CREDIT: Highest Volume Since June 25 as Issuance Most YTD
2014-09-04 09:51:31.836 GMT
By Robert Elson
Sept. 4 (Bloomberg) -- The final Trace count for secondary
trading was $14.4b, the highest volume since $16.1b June 25, vs
$9.3b, the lowest Tuesday session of 2014, and $11.1b the
previous Wednesday. 10-DMA rose to $9.6b vs ...
Posted in Uncategorized | Comments Off on Investment Grade Trading Yesterday
Thursday, September 4th, 2014
Prices of Treasury coupon securities have registered very small changes when viewed against levels which prevailed at 930PM last night. The yield on the 5 year note slipped to 1.679 from 1.684. The yield on the 10 year note declined to 2.40s from 2.407. The yield on the Long Bond ...
Posted in Uncategorized | Comments Off on September 04 2014 Opening
Wednesday, September 3rd, 2014
Attached is the NYTimes story on Michael Bloomberg retaking daily leadership of the company which bears his name. I posted an FT story here but just found this longer NYTimes story. It would appear from the wording of the NYTimes story that the former Mayor revels in being in charge ...
Posted in Uncategorized | Comments Off on NYTimes Story on Bloomberg
Wednesday, September 3rd, 2014
Michael Bloomberg, founder of the company which bears his name and former Mayor of New York City, will resume control of Bloomberg. The current CEO is leaving.
I think Bloomberg is a genius who revolutionized and forever changed the way that fixed income business is conducted. I guess one could say ...
Posted in Uncategorized | Comments Off on Bloomberg Takes The Reins Again
Wednesday, September 3rd, 2014
Via Merrill Lynch:
Supply big bang. September high grade new issue supply activity kicked off with a bang, pricing $35.3bn during the first two days of the month. Excluding the VZ deal last year, this is the second busiest two-day issuance pace since at least 2006, behind only $39.5bn priced on March ...
Posted in Uncategorized | Comments Off on Merrill Lynch on Corporate Issuance
Wednesday, September 3rd, 2014
I have written about this here and here. The WSJ is carrying a story which describes a final draft of a document which will be voted on today. There are only minor changes to the original draft and the deal mostly with start dates and calculation methodology. I think the ...
Posted in Uncategorized | Comments Off on Liquidity Coverage Rules