Archive for October, 2014
Tuesday, October 28th, 2014
Via Ian Lyngen at CRT Capital:
The 2-year sector is modestly lower this morning, pricing in a slight outright concession but it is holding well compared to the rest of the curve. Nonetheless, we’re constructive on this afternoon’s auction as it’s tied with Jul-Sep as the smallest 2-year size since March ...
Posted in Uncategorized | Comments Off on Two Year Note Auction
Tuesday, October 28th, 2014
Long Dated bank and finance paper is opening 1/2 to 1 basis point tighter this morning. The IG 23 is opening 1/2 tighter at 64 1/4 to 64 3/4.
The new 5 year Proctor and Gamble deal which priced yesterday at + 45 is 42/41 this morning.
Posted in Uncategorized | Comments Off on Corporate Bond Spreads
Tuesday, October 28th, 2014
Via jay Morelock at FTN Financial
Durable goods orders fell 1.3% in September, far below the +0.5% consensus estimate. August was revised slightly from -18.2% to -18.3%. Durables ex-transportation fell 0.2%. Nondefense capital goods orders ex-aircraft unexpectedly fell 1.7% and was revised from 0.6% to 0.3% in August.
Nondefense capital goods shipments ...
Posted in Uncategorized | Comments Off on Durable Goods Orders
Tuesday, October 28th, 2014
MBS opening firm today after finishing yesterday 2 ticks better to Treasuries across the curve. This morning the stack is a + to 1 tick better. There was a smattering of overseas buying in the product and coupled with light origination and Federal Reserve purchases there are not enough bonds ...
Posted in Uncategorized | Comments Off on MBS
Tuesday, October 28th, 2014
All Clients Long Neutral Short
Oct 27 13 67 20
Oct 20 13 65 22
Oct 14 20 54 26
Active Clients
Oct 27 17 67 17
Oct 20 8 75 17
Oct 14 17 58 25
In the all clients survey, the percent of longs was unchanged, the percent of neutrals increased by 2, and the percent ...
Posted in Uncategorized | Comments Off on JPM Duration Survey
Tuesday, October 28th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 8:30am: Durable Goods Orders, Sept., est. 0.5% (prior
-18.2%, revised -18.4%)
* Durables Ex-Transportation, Sept., est. 0.5% (prior
0.7%, revised 0.4%)
* Capital Goods Shipments Non-Defense Ex-Aircraft, Sept.,
est. 0.7% (prior 0.1%)
* Capital Goods Orders Non-Defense Ex-Aircraft, Sept.,
est. 0.7% (prior 0.6%, revised 0.4%)
* Capital Goods Orders ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, October 28th, 2014
The Russian Ruble makes a new low each day. Here is a Bloomberg story on the topic.
Via Bloomberg"
Ruble Weakens to Record on Concern Russia to Expedite Free Float
By Vladimir Kuznetsov Oct 28, 2014 6:00 AM ET
The ruble weakened to a record for the fifth day on concern Russia will quicken ...
Posted in Uncategorized | Comments Off on Ruble Rubble Redux
Tuesday, October 28th, 2014
Via Marc Chandler at Brown Brothers Harriman:
- Sweden’s Riksbank cut rates by more than expected
- Japanese retail sales surprise on the upside
- The ECB meets next week, but this week is all about fiscal policy in the Eurozone
- The Hungarian central bank meets and is expected to keep rates steady ...
Posted in Uncategorized | Comments Off on FX
Tuesday, October 28th, 2014
Via Bloomberg:
IG CREDIT: AAPL 2021 Led Trading; HUWHY, GLBACO Set to Price
2014-10-28 09:49:07.112 GMT
By Robert Elson
Oct. 28 (Bloomberg) -- The final Trace count for secondary
trading was $11.2b vs $11.4b Friday and $12.8b the previous
Monday. 10-DMA at $14.5b; 10-DMA of only Monday sessions $11.3b.
* 144a trading added another $2.1b of IG ...
Posted in Uncategorized | Comments Off on Secondary Market Trading of Corporates Yesterday
Tuesday, October 28th, 2014
Prices of Treasury coupon securities have registered modest gains in overnight trading in a session dominated by participants waiting for the FOMC decision. Stocks in China posted robust gains on better than expected rebound in industrial profits. In Japan retail sales were better than expected but the Nikkei declined marginally. ...
Posted in Uncategorized | Comments Off on October 28 2014 Opening