Archive for September, 2014
Sunday, September 28th, 2014
Investors react to the Gross departure by pulling $10 billion from PIMCO funds. The WSJ reports that the some at the firm expect that withdrawals could reach $100 billion.
Via the WSJ:
Markets
Billions Fly Out the Door at Pimco
About $10 Billion Is Withdrawn After Departure of Gross
By
Kirsten Grind,
Gregory Zuckerman and
Min Zeng
...
Posted in Uncategorized | Comments Off on Run on the Bank at Pimco
Sunday, September 28th, 2014
Via the FT:
Pimco looks to staunch outflows after shock exit of Bill `Gross
By Tom Braithwaite, Tracy Alloway and Stephen Foley
Pimco’s new leadership team is spending the weekend trying to staunch an outflow of client money after Friday’s shock departure of Bill Gross, founder and chief investment officer of the world’s ...
Posted in Uncategorized | Comments Off on Pimco Fights Back
Saturday, September 27th, 2014
Via the FT:
Last updated: September 27, 2014 7:19 pm
HK group launches civil disobedience campaign
By Demetri Sevastopulo in Hong KongAuthor alerts
Occupy Central, the Hong Kong democracy group pushing for genuine universal suffrage in the Chinese territory, launched its long-planned civil disobedience movement early on Sunday morning.
The group had planned to start ...
Posted in Uncategorized | Comments Off on Tensions Rising in Hong Kong
Saturday, September 27th, 2014
Over the the last forty years or so the relative status of the US dollar has infrequently been a focus of monetary policy architects on Constitution Avenue (I rode past that august palace on Constitution Avenue this morning on the way to the train). However, the recent strong gains of ...
Posted in Uncategorized | Comments Off on King Dollar
Saturday, September 27th, 2014
Bloomberg news examines the its impact on inflation.in commodity prices and the sharp decline in oil prices and the influence of those events on inflation readings.
Via Bloomberg;
Cheaper Energy to Grain Signaling Tame Inflation for U.S.
By Lydia Mulvany and Megan Durisin Sep 26, 2014 3:11 PM ET
The longest commodity slump in ...
Posted in Uncategorized | Comments Off on Inflation Dragon Slain for Now
Saturday, September 27th, 2014
The excitement in the midterm election centers around the Senate and the GOP effort to capture the six seats it needs to make itself the majority. The pundits who pontificate on that matter make the GOP a small favorite to take back the Senate. However little is written about the ...
Posted in Uncategorized | Comments Off on Midterm Election in the House
Friday, September 26th, 2014
Just found this Bloomberg Story on TIPS :
RATES: Bad Month for TIPS Worsens as Gross Quits Pimco
2014-09-26 18:22:43.775 GMT
By Elizabeth Stanton
Sept. 26 (Bloomberg) -- TIPS, already on track for one of
their worst months since last year’s 2Q selloff, suffered an
additional blow today with Bill Gross’s departure from Pimco on
speculation redemptions ...
Posted in Uncategorized | Comments Off on Bloomberg Article on Gross and TIPS
Friday, September 26th, 2014
The curve has undergone a rather dramatic flattening since I last wrote. At 500AM I marked 5s 30s at 145.1. It is currently just above 141. Ihad marked 10s 30s at 74.5 and that spread currently rests at 68.1. I believe those are cycle lows or close to cycle lows ...
Posted in Uncategorized | Comments Off on Curvology and Other Miscellany
Friday, September 26th, 2014
Via Richard Gilhooly at TDSecurities:
The bond market suddenly went south after the 8.30am announcement, not of GDP, but that Bill Gross is 'leaving' PIMCO after 13 months of consecutive redemptions and an increasingly leveraged bet to attempt to get back to the top of the league tables. In fact, several ...
Posted in Uncategorized | Comments Off on More on Gross Departure
Friday, September 26th, 2014
Via Bloomberg:
BFW 09/17 04:11 Bill Gross Used $45 Billion Derivatives to Lift Pimco Fund Gains
+------------------------------------------------------------------------------+
Bill Gross Used $45 Billion Derivatives to Lift Pimco Fund Gains
2014-09-17 04:00:01.12 GMT
By Miles Weiss and Susanne Walker
Sept. 17 (Bloomberg) -- Bill Gross is relying on
derivatives rather than Janet Yellen to raise his returns on
government bonds.
The ...
Posted in Uncategorized | Comments Off on Bloomberg Article on Fund Gross managed