Corporate Bond Spreads
Thursday, January 8th, 20151/7 CLOSE 1/8 OPEN CHANGE C 24 133/130 131/128 -2 WFC 24 108/105 107/104 -1 BAC 24 134/131 132/129 -2 JPM 24 ...
Archive for January, 2015
1/7 CLOSE 1/8 OPEN CHANGE C 24 133/130 131/128 -2 WFC 24 108/105 107/104 -1 BAC 24 134/131 132/129 -2 JPM 24 ...
Very Interesting Hilsenrath
Thursday, January 8th, 2015Via Jon Hilsenrath at the WSJ: Falling long-term interest rates pose a quandary for Federal Reserve officials. Yields on 10-year Treasury notes have fallen for eight consecutive trading sessions, by a total of 0.31 percentage points to 1.95% Wednesday. The 10-year yield is now around levels that prevailed before the famed “taper ...
What to Watch Today
Thursday, January 8th, 2015Via the good folks at Bloomberg; WHAT TO WATCH: * (All times New York) Economic Data * 7:30am: Challenger Job Cuts, y/y, Dec. (prior -20.7%) * 8:30am: Initial Jobless Claims, Jan. 3, est. 290k (prior 298k) * Continuing Claims, Dec. 27, est. 2.36m (prior 2.353m) * Continuing Claims, Dec. 27, est. 2.36m (prior 2.353m)</li></ul> * 9:45am: Bloomberg Consumer Comfort, ...
FX
Thursday, January 8th, 2015Via Marc Chandler at Brown Brothers Harriman: Dollar Shoots Higher - The dollar is extending its gains with a combination deflation in the eurozone and the seemingly immunity of the US economy to the poor global developments - For their part, the FOMC minutes confirmed our interpretation of the policy signals from ...
Secondary market Corporate Bond Trading
Thursday, January 8th, 2015Via Bloomberg: IG CREDIT: Client Buying of GS, MS Led Volume; 4 Set to Price 2015-01-08 10:59:36.872 GMT By Robert Elson (Bloomberg) -- The final Trace count for secondary trading was $16.7b vs $16.5b Tuesday. * 144a trading added $2.9b of IG volume vs $2.6b * Most active issues longer than 2 years * GS 4.00% 2024 was ...
FOMC Voter Evans On the Inflation Target
Thursday, January 8th, 2015Via the WSJ: 8:57 pm ET Jan 7, 2015 Fed’s Evans: U.S. Might Not Hit Target Inflation Rate Until 2018 By Ben Kesling and Michael S. Derby CHICAGO–Federal Reserve Bank of Chicago President Charles Evans said Wednesday the U.S. might not hit the Fed’s target inflation rate until 2018 and he doesn’t advocate ...
January 08 2015 Opening
Thursday, January 8th, 2015Prices of Treasury coupon securities have registered modest losses in overseas trading. There is no particular smoking gun responsible for the small decline and is likely just the market backing and filling following the recent sharp declines in yields.German factory orders were weak but retail sales were solid. One analyst ...
RBS on Bunds
Thursday, January 8th, 2015This was in the overnight mail as I sat down here this morning. Strategists at RBS assert that the 10 year Bund is still cheap and based on their modeling believe that it can trade at 13 basis points (currently around 45 basis points). They believe that it is cheap ...
Hilsenrath On FOMC Minutes
Wednesday, January 7th, 2015Via Jon Hilsenrath at the WSJ: Fed Backs More Overseas Stimulus Officials Cite Expectations of Action From Foreign Central Banks to Stir Growth By Jon Hilsenrath And Brian Blackstone Updated Jan. 7, 2015 7:03 p.m. ET Federal Reserve officials, worried about weak growth overseas, are endorsing new measures by foreign officials—most notably at the European ...
End of Day Analysis
Wednesday, January 7th, 2015Via Richard Gilhooly at TDSecurities: Treasuries ended a volatile session with decent gains, led by the intermediate sector as the yield curve edged steeper, although off its steepest level of the day. The FOMC minutes brought the curve back to unchanged and briefly wiped out gains in the front-end, but a ...