Archive for November, 2014
Monday, November 10th, 2014
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
- There was nothing in the October jobs report that will challenge the FOMC’s assessment of the labor market
- Contrary to a widely cited Reuters report, the ECB came together and endorsed the expansion ...
Posted in Uncategorized | Comments Off on FX
Monday, November 10th, 2014
Via Bloomberg:
IG CREDIT: Spreads Leak Wider; BCECN Files, INDON Requests
2014-11-10 10:51:30.754 GMT
By Robert Elson
Nov. 10 (Bloomberg) -- The final Trace count for secondary
trading was $13.4b vs $16.4b Thursday and $12.6b the previous
Friday. 10-DMA $13.4b; 10-DMA of only Friday sessions $12.2b.
* 144a trading added another $1.5b of IG volume
* BPLN 3.125% ...
Posted in Uncategorized | Comments Off on Secondary Market Corporate Bond trading on Friday
Monday, November 10th, 2014
Prices of Treasury coupon securities have posted modest gains in overnight trading. The belly of the curve has outperformed (as it did in my absence on Friday) and I think that reflects the 10 year and 30 year supply from the Treasury later this week. It also is a continued ...
Posted in Uncategorized | Comments Off on November 10 2014 Opening
Sunday, November 9th, 2014
Via Merrill Lynch:
Nov '14 Credit Investor Survey: From upside to downside risks. From upside to downside risks. Just three weeks removed from the week when 10-year Treasury yields plunged well inside 2% intraday, not surprisingly there has been a decisive shift of the expected timing of the Fed's first rate ...
Posted in Uncategorized | Comments Off on Merrill Lynch on Credit Spreads
Sunday, November 9th, 2014
Via the WSJ:
Markets
Bonus Season Brings More Pain for Traders
Deal Makers Set to Get Bigger Bonuses, But Not Traders and Hedge-Fund Employees
By
Justin Baer
Nov. 9, 2014 8:00 p.m. ET
0 COMMENTS
Many of Wall Street’s deal makers are heading toward a happy year-end bonus season, while traders and hedge-fund employees ...
Posted in Uncategorized | Comments Off on Depleted Bonus Pools
Sunday, November 9th, 2014
Regulators are studying the Great Short Squeeze of October 15 in which the 10 year note traded down to 1.85 percent. They want to understand if this was a one off event if there is the potential for such an event to occur in the future.
I wrote about the squeeze ...
Posted in Uncategorized | Comments Off on Amother Story on the October 15 Short Squeeze
Thursday, November 6th, 2014
Via Bloomberg;
Walgreens Boots Alliance, Inc 8 bln Baa2/BBB
priced 750mm 18 mo frn 3ml +45
750mm 3Y +80
1.25bln 5Y +105
1.25 bln 7Y +125
2 bln 10Y +145
500mm 20Y +145
1.5 bln 30Y +170
Posted in Uncategorized | Comments Off on Walgreen’s Pricing
Thursday, November 6th, 2014
Mortgages are a + to 1+ tighter this morning. There was some overnight buying and there is domestic money manager buying this morning.
Posted in Uncategorized | Comments Off on MBS
Thursday, November 6th, 2014
Via Bloomberg:
G CREDIT: List of New Issues Expected to Price in U.S. Today
2014-11-06 15:01:15.930 GMT
By Greg Chang
Nov. 6 (Bloomberg) -- The following is a list of new issues
expected to price today.
* ConocoPhillips Co. $benchmark A1/A
* 7Y, 10Y, 20Y, 30Y
* IPT 7Y +95, 10Y +110, 20Y +110, 30Y +135 (all area)
* ...
Posted in Uncategorized | Comments Off on New Issue List
Thursday, November 6th, 2014
I am not sure exactly what Draghi said to motivate this but 10 year Spain has improved about five basis points from levels which prevailed at 500AM. That spread is now Spain 25 rich to US versus about 20 rich early this morning.
Posted in Uncategorized | Comments Off on Peripherals