Archive for November, 2014
Monday, November 24th, 2014
Via Marc Chandler of Brown Brothers Harriman:
Drivers for the Week Ahead
- The highlight for this holiday-shortened week will be the EU and the OPEC meetings
- In terms of economic data, today’s German IFO surprised on the upside, helping the euro regain the $1.24 level against the dollar
- New record low ...
Posted in Uncategorized | Comments Off on FX
Monday, November 24th, 2014
Prices of Treasury coupon securities have sagged in a quiet overnight session. There was a holiday in Japan so there was no trading in that venue. In Europe the German IFO printed stronger than last month and beat expectations and the dampened sentiment. I suppose the advocates of an early ...
Posted in Uncategorized | Comments Off on November 24 2014 Opening
Monday, November 24th, 2014
Via Bloomberg:
IG CREDIT: Highest Friday Volume of Year; KOEWPW, MDT, DIS
2014-11-24 10:55:47.607 GMT
By Robert Elson
Nov. 24 (Bloomberg) -- The final Trace count for secondary
trading was $15.3b, the highest volume Friday of 2014, vs
$18.4b, the highest Thursday session of the year and $14.5b the
previous Friday.
* 10-DMA $15.4b; 10-DMA of only Friday ...
Posted in Uncategorized | 1 Comment »
Monday, November 24th, 2014
Via FT:
German business confidence rose slightly in November, the first time in seven months, raising hopes that Europe's largest economy could recover its poise after teetering on the edge of recession.
The closely watched Ifo institute's survey of 7,000 companies on the business climate in Germany rose to 104.7 in November, ...
Posted in Uncategorized | Comments Off on IFO Rises in November
Monday, November 24th, 2014
Via a fully paid up subscriber across the pond:
GS: Base-case is now for Sov. QE in 1H15 (previously assigned a 1-in-3 chance), most likely at the Mar 5th meeting with a move at the Dec 4th meeting likely too soon for Draghi to gain consensus, and Jan 22nd also likely ...
Posted in Uncategorized | Comments Off on Thoughts on ECB
Sunday, November 23rd, 2014
Via the FT:
November 23, 2014 5:53 pm
Dallas Fed chief’s inflation concerns ease
Robin Harding in DallasAuthor alerts
One of the US Federal Reserve’s longest-serving and most prominent hawks on monetary policy is sounding less hawkish as he nears retirement in March.
Richard Fisher of the Dallas Fed has not gone soft, exactly – ...
Posted in Uncategorized | Comments Off on A Less Hawkish Dallas Fed President
Sunday, November 23rd, 2014
Via the FT:
US oil imports from Opec at 30-year low
Anjli Raval, Oil and Gas Correspondent
US imports of crude oil from Opec nations is at its lowest level in almost 30 years, underlining the impact of the shale revolution on global trade flows.
The lower dependence on imports from the cartel, which ...
Posted in Uncategorized | Comments Off on A Surfeit of Oil
Saturday, November 22nd, 2014
Via Jon Hilsenrath at the WSJ:
Economy
Central Banks Move to Boost Global Growth
Steps by China, ECB Lift Stocks, but Risk Lurks
ENLARGE
The People’s Bank of China headquarters in Beijing. Bloomberg News
By
Jon Hilsenrath in Washington,
Brian Blackstone in Frankfurt and
Lingling Wei in Beijing
Nov. 21, 2014 7:45 p.m. ET
Two ...
Posted in Uncategorized | Comments Off on Hilsenrath on Saturday Morning
Friday, November 21st, 2014
Swap spreads are interesting today as there is some idiosyncratic movement. Two year spreads have tightened 3/4 basis point and 3 year spreads are tighter by 1 1/2 basis points. Those sectors have traded off of movements in the Eurodollar pit and those movements have pushed spreads tighter. In the ...
Posted in Uncategorized | Comments Off on Swap Spreads
Friday, November 21st, 2014
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2014-11-21 15:25:57.806 GMT
By Greg Chang
Nov. 21 (Bloomberg) -- The following is a list of new
issues expected to price today:
* Caterpillar Financial Services Corp. $750m A2/A
* $500m 5Y & $250m 10Y (will not grow)
* IPT 5Y +75, 10Y +105 ...
Posted in Uncategorized | Comments Off on Corporate Pricings Today