Archive for December, 2014
Sunday, December 21st, 2014
Via the FT:
Rising price of olive oil is a pressing matter
Emiko Terazono
Never mind the shale revolution, or Opec’s deliberations. Some oil producers are enjoying the highest prices in six years.
A severe drought in Spain and a fruitfly infestation in Italy have caused a surge in the price of olive oil. ...
Posted in Uncategorized | Comments Off on EVO Shortage
Saturday, December 20th, 2014
Via the WSJ:
Markets
Investors Continue to Scoop Up TIPS
Buyers Buy Inflation-Protected Securities at Fastest Pace in 27 Months
By
Min Zeng
Dec. 19, 2014 5:19 p.m. ET
The retreat of inflation hasn’t killed investors’ appetite for bonds that protect against rising price levels.
Investors this month have snapped up U.S. Treasury inflation-protected securities, or TIPS, at ...
Posted in Uncategorized | Comments Off on TIPS Still in Demand
Friday, December 19th, 2014
*WILLIAMS SAYS GETTING CLOSER TO TIME TO CONSIDER NORMALIZING
*FED'S WILLIAMS SPEAKS IN BLOOMBERG RADIO INTERVIEW
*WILLIAMS SAYS `PATIENT' WAS NATURAL PROGRESSION FOR FED
Posted in Uncategorized | Comments Off on Time Drawing Nigh to Normalize
Friday, December 19th, 2014
Dealers reporting particularly light flows today in the cash market but chunky buying in the long end of the futures market. That buying has 5s 30s trading 3 basis points flatter at about 115 against 115 at the open this morning. One dealer did note that notwithstanding that flattening the ...
Posted in Uncategorized | Comments Off on Flows
Friday, December 19th, 2014
Via the WSJ:
One of men who cast a dissenting vote at this week’s Federal Reserve policy meeting said Friday the U.S. central bank is playing an increasingly risky game that could lead to further declines in already weak inflation.
The official, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, said in ...
Posted in Uncategorized | Comments Off on Kocherlakota on Inflation
Friday, December 19th, 2014
Long dated financials opening mixed and IG just a tad wider.
12/18 CLOSE 12/19 OPEN CHANGE
C 24 129/126 130/127 +1
WFC 24 106/103 105/102 -1
BAC 24 129/126 ...
Posted in Uncategorized | Comments Off on Corporate Bond Spreads
Friday, December 19th, 2014
The spread between Bunds and US in the 10 year sector is at its widest levels since 1999,according to a Bloomberg article. The spread rests at about 160 basis points.
I also watch Spain/US and when I marked that spread it was at its widest level since I began following it ...
Posted in Uncategorized | 1 Comment »
Friday, December 19th, 2014
Prior to the FOMC statement the 5s 30s curve rested at 115.7. In overseas trading on Wednesday evening I marked it as narrow as 111. That spread is now 118 basis points. Dealers report robust sales of the bond sector yesterday and then again in this most recent evening session. ...
Posted in Uncategorized | Comments Off on Steeper Curve
Friday, December 19th, 2014
Via Bloomberg:
IG CREDIT: Record Jump in Long Dealer Positions Off Record Low
2014-12-19 11:45:00.3 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in corporate bonds rose $9b
to $35.1b as of Dec 10. $45.9b, seen March 5, was the high for
the series Fed began April 2013; $23b low was in Aug 2013.
* Investment grade ...
Posted in Uncategorized | Comments Off on Big Jump in Dealer Holdings of Corporate Bonds
Friday, December 19th, 2014
Via Bloomberg:
IG CREDIT: Spreads Move Further From 2014 Wides; HY Leads
2014-12-19 11:02:40.179 GMT
By Robert Elson
(Bloomberg) -- The final Trace count for secondary trading
was $15.4b vs $15.7b Wednesday and $15.3b the previous Thursday.
10-DMA at $14.7 vs $14.9b, as $17.8b falls from the count; 10-
DMA of only Thursday sessions $16.3b.
* 144a trading ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond trading Yesterday