Archive for December, 2014
Tuesday, December 30th, 2014
Via Bloomberg:
Sub-$55 Oil Has U.S. Drillers Idling Most Rigs in 2 Years
By Moming Zhou Dec 30, 2014 5:49 AM ET
U.S. oil drillers idled the most rigs since 2012 as prices slide below $55 a barrel to the lowest level in five years and a fight for market share with OPEC ...
Posted in Uncategorized | 1 Comment »
Tuesday, December 30th, 2014
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 9:00am: S&P/CaseShiller 20 City m/m, Oct., est. 0.40% (prior
0.34%)
* S&P/CS 20 y/y, Oct., est. 4.40% (prior 4.9%)
* S&P/CS 20-City Index NSA, Oct., est. 173.72 (prior
173.72)
* S&P/CS US HPI y/y, Oct (prior 4.81%)
* S&P/CS US HPI NSA, Oct. (prior 167.49)
* S&P/CS US ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, December 30th, 2014
Via Brown Brothers Harriman:
Foreign exchange: The dollar is broadly weaker. The euro moved back above the $1.2150 level and the pound is around $1.5530. The dollar came off the ¥120.0 level against the yen to trade close to ¥119.50 now, making the yen the best performing currency of the day. ...
Posted in Uncategorized | Comments Off on FX
Monday, December 29th, 2014
Via Merrill Lynch Research:
High grade supply volumes reached a new record of $1,105bn for the year, or 7.8% above last year's total of $1,024bn.
Financials accounted for 45% of total supply this year, up from 41% in 2013...
...and we expect the share of financial supply to rise further next year to ...
Posted in Uncategorized | Comments Off on January issuance Tsunami
Monday, December 29th, 2014
Via Robert Sinche of Amherst Pierpont Securities:
S. KOREA: The BBerg consensus expects Industrial Production to have fallen -2.3% YOY in November, better than the -3.2% YOY drop in October but would be the 3rd YOY drop in the last 4 months as the China slowdown reverberates.
HONG KONG: Retail Sales volumes ...
Posted in Uncategorized | Comments Off on Overnight Preview
Monday, December 29th, 2014
The good folks at Bloomberg have gathered together the musings of numerous forecasters and their guesses/prognostications for rates and the shape of the curve in the upcoming year. It is long but a worthwhile read.
Via Bloomberg:
RESEARCH ROUNDUP: 2015 UST Rates and Supply Outlook
2014-12-29 14:45:39.406 GMT
By Monika Grabek
(Bloomberg) -- (Adds CS; ...
Posted in Uncategorized | 1 Comment »
Monday, December 29th, 2014
This is a very informative article via Bloomberg (hat tip to a fully paid up subscriber)which recounts the predictions by paid prognosticators and pundits pontificating on the course of interest rates in 2015. There is near unanimity in the belief that rates will be rising in 2015. The same crowd ...
Posted in Uncategorized | Comments Off on Herd Mentality
Monday, December 29th, 2014
Via Bloomberg;
WHAT TO WATCH:
* (All times New York)
Economic Data
* 10:30am: Dallas Fed Manufact. Activity, Dec., est. 9.0
(prior 10.5)
Supply
* 11:00am: U.S. to announce plans for auction of 4W bills
* 11:30am: U.S. to sell 3M/6M bills
Posted in Uncategorized | Comments Off on What to Watch for Today
Monday, December 29th, 2014
Via Bloomberg:
IG CREDIT: Dealer Positions in Long and Short Maturities Fell
2014-12-29 11:06:59.797 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in corporate bonds fell
$1.5b to $33.5b as of Dec 17. $45.9b, seen March 5, was the high
for the series Fed began April 2013; $23b low was in Aug 2013.
* Investment grade positions:
* ...
Posted in Uncategorized | Comments Off on Dealer Positions
Monday, December 29th, 2014
Via Brown Brothers Harriman:
Drivers for the Week Ahead - Holiday Edition
Price action: The dollar is mixed against the majors as another holiday-shortened week gets under way. The antipodeans are outperforming, while the Scandies and sterling are underperforming. The euro is trading just below $1.22, little changed despite heightened Greek political ...
Posted in Uncategorized | Comments Off on FX