Archive for January, 2015
Tuesday, January 20th, 2015
This is not an index I ever watch but its collapse is pretty sizable. It is a diffusion index and because it remains above zero it is still in growth territory. Here is a link to the sanguine write up by the Philadelphia Fed and I also append a Bloomberg ...
Posted in Uncategorized | Comments Off on Philly Fed Non Manufacturing Index
Tuesday, January 20th, 2015
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-01-20 15:01:00.0 GMT
By Greg Chang
(Bloomberg) -- The following is a list of new issues
expected to price today:
* Goldman Sachs Group $benchmark Baa1/A-
* 5.25Y fixed and/or FRN, 10Y fixed
* IPT: 5.25Y fixed +140-145, 10Y +175-180
* IPT: 5.25Y fixed +140-145, ...
Posted in Uncategorized | Comments Off on Expected to Price Today
Tuesday, January 20th, 2015
Reuters has an interesting article on the plight of over 500K borrowers in Poland who chose to finance their home purchases with a mortgage denominated in Swiss francs. With the actions of the Swiss Natioanl Bank leading to a sharp appreciation in the currency those homeowners are facing steep increases ...
Posted in Uncategorized | Comments Off on It’s a Mortgage Not an FX Trade
Tuesday, January 20th, 2015
Via a fully paid up subscriber:
1/16 CLOSE 1/20 OPEN CHANGE
GE 24 97/94 96/93 -1
WFC 24 124/121 124/121 -0-
JPM 25 150/147 150/147 ...
Posted in Uncategorized | Comments Off on Corporate Spreads at Open
Tuesday, January 20th, 2015
Goldman Sachs just announced a 5 year fixed rate deal and a 10 year fixed rate deal. Early price talk is + 140/145 and +175/180.
Posted in Uncategorized | Comments Off on Goldman Issuance
Tuesday, January 20th, 2015
Via the Good Folks at Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 10:00am: NAHB Housing Mkt Index, Jan., est. 58 (prior 57)
Central Banks
* 10:00am: Fed’s Powell speaks in Washington
Supply
11:00am: U.S. to announce plans for auction of 4W bills
11:30am: U.S. to sell $24b 3M bills, $24b 6M bills
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, January 20th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed As US Returns From Holiday
- The US dollar's strength is a product of both the expected trajectory of Fed policy and the fact that ECB and BOJ are still in aggressive easing modes
- German government appears to have indicated that it will ...
Posted in Uncategorized | 3 Comments »
Tuesday, January 20th, 2015
The FT reports that the slightly better than expected GDP data from China has given a bit of a bid to the metals market.
Via the FT:
MarketsMetals firm after better-than-feared China GDP
26 minutes ago
Dr Copper has admitted his prognosis for China was a touch too pessimistic.
Prices of industrial metals are firming ...
Posted in Uncategorized | Comments Off on Commodities
Tuesday, January 20th, 2015
Via the good folks at Bloomberg:
IG CREDIT: Volume Falls; More Issuers to Exit Blackout Today
2015-01-20 10:44:38.88 GMT
By Robert Elson
(Bloomberg) -- Trace count for secondary trading closed at
$12.2b vs $15.8b on Thursday, $12.4b last Friday. It was the
lowest volume session since $11.8b on Jan. 5.
* 10-DMA $15.0b
* 144a trading added $1.7b ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Friday
Tuesday, January 20th, 2015
Prices of Treasury coupon securities have posted modest gains when viewed against levels which prevailed in late New York trading on Friday but remain at the low end of levels which prevailed in the futures market yesterday and last evening. When compared against the late New York levels the yield ...
Posted in Uncategorized | Comments Off on January 20 2015 Opening