Archive for October, 2014
Wednesday, October 29th, 2014
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed Ahead of FOMC Decision
- Although there had been some jitters, investors have come around and expect the Federal Reserve to announce its commitment to end QE today
- France and Italy agreed to tighter fiscal measures
- Evidence continues to mount that there ...
Posted in Uncategorized | Comments Off on FX
Wednesday, October 29th, 2014
Via the FT:
Eurozone credit conditions improving - ECB
7 minutes ago
Eurozone lending conditions improved across the board in the third quarter, nurturing optimism that the credit cycle will pick up further after the recent stress test results were revealed, and revive growth in the currency bloc.
According to the European Central Bank's ...
Posted in Uncategorized | Comments Off on ECB Reports IMproving Credit Conditions in Europe
Wednesday, October 29th, 2014
Via Bloomberg;
IG CREDIT: MS Issues Topped Most Active List; IADB to Price
2014-10-29 09:50:24.950 GMT
By Robert Elson
Oct. 29 (Bloomberg) -- The final Trace count for secondary
trading was $15.4b vs $11.2b Monday and $17.9b the previous
Tuesday. 10-DMA at $14.9b; 10-DMA of only Tuesday sessions
$14.2b.
* 144a trading added another $2.2b of IG volume
* ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond Trading Yesterday
Wednesday, October 29th, 2014
Prices of Treasury coupon securities have registered marginal gains when viewed against levels which prevailed at 1100PM last night. The market remains in lockdown as investors await the outcome of the FOMC meeting later today. It was a light data night with the only high profile info a stronger than ...
Posted in Uncategorized | Comments Off on October 29 2014 Opening
Tuesday, October 28th, 2014
Via Merrill lynch Research:
Consumer 1, Energy 0. While there has been much focus on the negative aspects of global weakness, today's jump in US consumer confidence (Conference Board) for October highlights one positive angle for the US economy - lower gas prices. Add US economic strength and expected wage gains, ...
Posted in Uncategorized | Comments Off on Eclectic Topics Via Merrill Lynch
Tuesday, October 28th, 2014
Wells Fargo is doing a 30 year deal today for $2billion bonds. In a quiet illiquid market that is a lot of bonds to buy and/or swap at pricing. Consequently, the long end of the market should be well bid until pricing. The launch spread for this subordinated deal is ...
Posted in Uncategorized | Comments Off on Wells Fargo Deal
Tuesday, October 28th, 2014
The Treasury market remains a quiet forum with reduced volumes as participants await the outcome of the FOMC meeting tomorrow. I have heard of some real money buying at the lows but the notional amount changing hands is quite modest.
Dealers continue to lament illiquidity and expect that situation will intensify ...
Posted in Uncategorized | Comments Off on Treasury Miscellany
Tuesday, October 28th, 2014
Via the FT:
Funds buckle up for redemption surge
Michael Mackenzie and Vivianne Rodrigues in New YorkAuthor alerts
In Hollywood’s classic All About Eve, Margo Channing, played by Bette Davis, tells guests at a dinner party to “fasten your seat belts, it’s going to be a bumpy night”, as she begins to load ...
Posted in Uncategorized | Comments Off on Corporate Fund Managers Add Treasuries
Tuesday, October 28th, 2014
Swap spreads are in across the curve today. Two year spreads have narrowed by 1/2 and five year spreads have narrowed 3/4. Ten year spreads have narrowed 5/8 and 30 year spreads have narrowed 1. There is some financial issuance today and that is supportive of narrower spreads. Equity markets ...
Posted in Uncategorized | Comments Off on Swap spreads
Tuesday, October 28th, 2014
Via the good folks at Bloomberg:
BFW 10/27 15:03 MORE: List of New IG Issues Expected to Price in U.S. Today
+------------------------------------------------------------------------------+
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2014-10-28 13:47:44.956 GMT
By James Holloway
Oct. 28 (Bloomberg) -- The following is a list of new
issues expected to price today.
* Hutchison ...
Posted in Uncategorized | Comments Off on Corporate issuance today