Archive for October, 2014
Friday, October 24th, 2014
Via Bloomberg:
IG CREDIT: Weekly Issuance Stats; Tenors, Ratings, Sectors
2014-10-24 17:11:45.149 GMT
By Lisa Loray
Oct. 24 (Bloomberg) -- $34.475b priced from 25 issuers in
34 tranches for week ending today, 15th week this year to exceed
$30b. Monthly volume $75.25b, YTD $1.167t.
* Deals priced every day this week, a 1st since week ending
Sept. 26
* ...
Posted in Uncategorized | Comments Off on Breakdown of This Week’s Corporate Issuance
Friday, October 24th, 2014
Mortgages have seen limited activity today amidst light origination selling. FNMA 3 are lagging Treasuries by 3/4 / 32 . The 4s and 4.5s are outperforming by 1+ ticks.Fifteen year paper is lagging 30 year paper as REITS and money managers continue to be sellers.
Posted in Uncategorized | Comments Off on MBS
Friday, October 24th, 2014
As I made the rounds of market makers and portfolio managers this morning I find a tired group of people looking forward to the weekend. On the market making side traders report very light volumes today and little information in the types of trades going through or from the actors ...
Posted in Uncategorized | Comments Off on Treasury Market Musings
Friday, October 24th, 2014
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2014-10-24 13:49:12.44 GMT
By Greg Chang
Oct. 24 (Bloomberg) -- The following is a list of new
issues expected to price today.
* Credit Suisse, acting through its NY Branch $benchmark A1/A
* 7Y
* IPT +125 area
* IPT +125 area</li></ul>
* E.CL SA $350m ...
Posted in Uncategorized | Comments Off on Corporate Bond Issuance Today
Friday, October 24th, 2014
Swap spreads have leaked wider in the belly. One portfolio manager reports 5s and 10s are each wider by 1/4 basis point. The 2s and 30s are unchanged. He said that flow was minimal and he speculated that the belly widening resulted from the better bid in the Treasury market.
I ...
Posted in Uncategorized | Comments Off on Swaps
Friday, October 24th, 2014
One dealer reports foreign sellers of off the run 5 year paper and domestic end users looking to pick up off the run 2 year paper at levels above 40 basis points.
Posted in Uncategorized | Comments Off on Treasury Market
Friday, October 24th, 2014
Corporate bond spreads are opening with very little change. The IG 23 is a smidgeon wider (+ 1/2) at 66 1/4 to 66 3/4. Long dated financial paper is unchanged to 1 basis point wider.
Posted in Uncategorized | Comments Off on Corporate Bonds
Friday, October 24th, 2014
A fully paid up subscriber forwarded this analysis of the November 4 midterm and the consequences of a likely GOP takeover of the Senate
Via JPMorgan (from what looks like a daily newsletter entitled J.P.Morgan Early Look at the Market
Nov mid-term elections – an early preview
The2014 Nov mid-term elections take place Tues ...
Posted in Uncategorized | Comments Off on Mid Term Election Analysis
Friday, October 24th, 2014
Via Bloomberg:
IG CREDIT: Dealer Positions Fall; High Yield at Record Low
2014-10-24 10:45:00.2 GMT
By Robert Elson
Oct. 24 (Bloomberg) -- Dealer positions in corporate bonds
fell $4.8b to $33.3b as of Oct 15. $45.9b, seen March 5, was the
high for the series Fed began April 2013; $23b low was Aug 28,
2013.
* Investment grade ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, October 24th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 10:00am: New Home Sales, Sept., est. 470k (prior 504k)
* New Home Sales m/m, Sept., est. -6.8% (prior 18%
* New Home Sales m/m, Sept., est. -6.8% (prior 18%</li></ul>
Posted in Uncategorized | Comments Off on What to Watch Today