Archive for October, 2014
Monday, October 20th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* None scheduled
Supply
* 11:00am: Fed to purchase $1b-$1.25b notes in 2019-2020
sector
* 11:00am: U.S. to announce plans for auction of 4W bills
* 11:30am: U.S. to sell $24b 3M bills, $30b 6M bills
Posted in Uncategorized | Comments Off on What to Watch for Today
Monday, October 20th, 2014
Potential Corporate Bond issuers.
Via Bloomberg:
CREDIT: HAL, Others, to Exit Blackout, No Recent Issuance
2014-10-20 10:35:01.222 GMT
By Robert Elson
Oct. 20 (Bloomberg) -- Halliburton, rated A2/A, is set to
announce earnings this morning. It last priced a new deal in
July, 2013.
* Also exiting blackout periods this morning and not seen this
year:
* VFC, A3/A, last ...
Posted in Uncategorized | Comments Off on Companies Exiting Blackout
Monday, October 20th, 2014
Via Marc Chandler at Brown Brothers Harriman:
rivers for the Week Ahead
- Falling market-based measures of inflation expectations, concerns about world growth prospects, and a strong dollar environment have seen the pendulum of market sentiment swing in favor of the persistence of disinflationary forces.
- This week's US September CPI report ...
Posted in Uncategorized | Comments Off on FX
Monday, October 20th, 2014
Via Bloomberg:
IG CREDIT: 4 BAC Issues Led Volume; GS Global 5Y to Price
2014-10-20 09:40:29.68 GMT
By Robert Elson
Oct. 20 (Bloomberg) -- The final Trace count for secondary
trading was $14.4b vs $16.1b Thursday and $9.6b the previous
Friday. 10-DMA $14b; 10-DMA of only Friday sessions $9.7b.
* 144a trading added another $1.7b of IG ...
Posted in Uncategorized | Comments Off on Secondary Market Corporate Bond Trading on Friday
Monday, October 20th, 2014
Prices of Treasury coupon securities have registered very small mixed changes in overseas trading. In the Asian session yields had moved modestly higher as a risk on trade dominated activity. The Nikkei closed up nearly 4 percent as reports circulated that the GPIF would raise its allocation in domestic stocks ...
Posted in Uncategorized | Comments Off on October 20 2014 Opening
Monday, October 20th, 2014
Via the WSJ:
World News
China Growth Seen Slowing Sharply Over Decade
Conference Board Report Sees Productivity Plummet, Leaders at a Loss
ENLARGE
Customers shop for clothes in a plaza in Qiqihar, an old industrial and agricultural hub in China's rust-belt northeastern province Heilongjiang, on Sept. 23. Reuters
By
Bob Davis
Oct. 20, ...
Posted in Uncategorized | Comments Off on Conference Board Forecasts Big Drop in Growth in China
Sunday, October 19th, 2014
Via the WSJ:
China Challenged by Deepening Property Slump
Decline Hits Many Households and Industries, Scams Burn Speculators
By
Esther Fung
Oct. 19, 2014 8:52 p.m. ET
HANDAN, China—The property slump is worsening across China, hitting many households and industries, scaring off home buyers and lenders, and leading to bankrupt developers and abandoned projects.
Adding ...
Posted in Uncategorized | Comments Off on Property Slump in China Deepens
Sunday, October 19th, 2014
Van Hoisington and Lacy Hunt of Hoisington Investment Management have been bond bulls from time immemorial. Here is a nice WSJ profile on their fund and their mindset.Hint: In the last paragraph of the story Mr Hunt suggests that the yield on the Long Bond could trade down to the ...
Posted in Uncategorized | Comments Off on Eternally Bullish and Correct
Sunday, October 19th, 2014
Polonius and Laertes were characters in Shakepeare's masterpiece Hamlet. Polonius was the chief adviser to the King and father of Laertes. Why does this matter in a fixed income market blog? Well because Polonius famously told his son that he should "neither a borrower or a lender be". That is ...
Posted in Uncategorized | Comments Off on Not Heeding Polonius’ Advice to Laertes
Saturday, October 18th, 2014
Via WSJ:
Big Banks Start Charging Clients for Euro Deposits
BNY Mellon, Credit Suisse and J.P. Morgan Among Banks Beginning Practice
By
JULIET CHUNG and
VIPAL MONGA
CONNECT
Updated Oct. 17, 2014 7:58 p.m. ET
Bank of New York Mellon has started charging for cash held in euros. Associated Press
Several global banks have begun charging large customers to ...
Posted in Uncategorized | 1 Comment »