Archive for November, 2014
Tuesday, November 4th, 2014
With oil prices collapsing and printing multi year lows inflation protection is not uppermost in the minds of investors. Yesterday I posted a note at about 1100AM and 5 year TIPS were at 158 breakeven. They trade currently at 153. Ten year TIPS were then at 193.5 and trade currently ...
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Tuesday, November 4th, 2014
If you enjoy the minutiae of election night TV watching as the results unfold, Politico.com has prepared an hour by hour breakdown of what to be aware of as the night progresses.
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Tuesday, November 4th, 2014
Via the Good Folks at Bloomberg:
RATES: Clients Move Away From Neutral in Latest JPM Survey
2014-11-04 12:22:20.799 GMT
By Robert Elson
Nov. 4 (Bloomberg) -- The JPMorgan Treasury Client Survey
for the week ended Nov 3 vs week ended Oct 27.
* Longs 15 vs 13
* Neutrals 61 vs 67
* Shorts 24 vs 20
* Net ...
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Tuesday, November 4th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 8:30am: Trade Balance, Sept., est. -$40.2b (prior -$40.1b)
* 9:45am: ISM New York, Oct. est. 62 (prior 63.7)
* 10:00am: Factory Orders, Sept., est. -0.6% (prior -10.1%)
* 10:00am: IBD/TIPP Economic Optimism, Nov., est. 46.5 (prior
45.2)
Central Banks
* 9:30pm: Bank of Japan’s Kuroda speaks in ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Tuesday, November 4th, 2014
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed as Oil Takes Center Stage
- The downtrend in oil continues after the Saudi price cut
- The European Commission released updated economic forecasts, but it’s unlikely to impact the ECB decision later this week
- UK reported construction PMI at 51.4 vs. 63.5 consensus, ...
Posted in Uncategorized | Comments Off on FX
Tuesday, November 4th, 2014
Via Bloomberg;
IG CREDIT: Volume Lowest Since Oct 10; SWED 3Y to Price
2014-11-04 10:55:39.700 GMT
By Robert Elson
Nov. 4 (Bloomberg) -- The final Trace count for secondary
trading was $9.8B vs $12.6b Friday and $11.2b the previous
Monday. 10-DMA at $13.3b vs $14.5b; 10-DMA of only Friday
sessions $11.9b.
* 144a trading added another $2.1b of ...
Posted in Uncategorized | Comments Off on Secondary Market Corporate Bond Trading Yesterday
Tuesday, November 4th, 2014
Prices of Treasury coupon securities have registered small gains in overseas trading. The overnight news provides a salutary backdrop for fixed income. The price of oil continues to tumble with Brent down about 2.6 percent. That will further dampen inflationary expectations and give some cover to those who want to ...
Posted in Uncategorized | Comments Off on November 04 2014 Opening
Tuesday, November 4th, 2014
Via the WSJ:
Economy
EU Cuts Eurozone Growth Forecast
Commission Cites Tensions in Ukraine, Middle East
By
Gabriele Steinhauser
Nov. 4, 2014 5:01 a.m. ET
The European Commission on Tuesday cut its growth forecasts for the eurozone and the European Union, citing the tensions in Ukraine and the Middle East along with a lack of ...
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Tuesday, November 4th, 2014
Today is election day in the US when voters make their individual choices about whom will provide the best governance in the next two years. It is a wonderful privilege and while their have been bumps in the republican road democracy has flourished here for more than two centuries. Let ...
Posted in Uncategorized | Comments Off on Midterm Election Update
Monday, November 3rd, 2014
The Treasury market was higher in price (in the longer end) early this morning but has since retreated. I see the 10 year note at 2.36 percent currently and that is ( I still have no Bloomberg) the highest yield on that instrument since the October 15 flush down to ...
Posted in Uncategorized | Comments Off on Monday Morning Miscellany