Archive for February, 2015
Tuesday, February 3rd, 2015
Via Bloomberg:
IG CREDIT: Longs and Shorts Fall in Latest JPM Survey
2015-02-03 12:11:36.523 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended Feb. 2 vs week ended Jan. 26.
* Longs 15 vs 22
* Neutrals 63 vs 54
* Shorts 22 vs 24
* Net longs -7 vs -2
* "The all ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Tuesday, February 3rd, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 9:45am: ISM New York, Jan. (prior 70.8)
* 10:00am: Factory Orders, Dec., est. -2.4% (prior -0.7%)
* 10:00am: IBD/TIPP Economic Optimism, Feb., est. 51.5 (prior
51.5)
* Wards Domestic Vehicle Sales, Jan., est. 13.5m (prior
13.46m)
* Wards Total Vehicle Sales, Jan., est. 16.6m (prior
16.80m)
* Wards Total ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Tuesday, February 3rd, 2015
Via Marc Chandler at Brown Brothers Harriman:
RBA Joins Parade and Market Likes Greek Proposals
- The Reserve Bank of Australia joined the chorus of central banks to ease policy
- The continued recovery in oil prices may be helping the Canadian dollar resist the Antipodean push
- The other major story today is ...
Posted in Uncategorized | Comments Off on FX
Tuesday, February 3rd, 2015
Via Bloomberg;
IG CREDIT: Highest 4-WMA Volume in History of Trace Data
2015-02-03 11:17:08.768 GMT
By Robert Elson
(Bloomberg) -- Trace count for secondary trading closed at
$13.2b vs $16.3b Friday, $13.1b last Monday; 10-DMA $16.2b.
* 4-wk moving avg was $15.6b yday, highest since at least Jan.
2005
* 144a trading added $2b of IG volume yday ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Yesterday
Tuesday, February 3rd, 2015
The Baltic Dry Index is a measure of the cost of moving raw commodities around the globe by ship.
That index plunged yesterday and sits on the cusp of establishing a 29 year low.
Posted in Uncategorized | Comments Off on Baltic Dry Index
Tuesday, February 3rd, 2015
At this juncture dealers report active flow in overnight Treasury trading. I have heard of bank portfolio buying in the 5 year sector as well as end user buying of 5 year spread product in that same sector. Real money in Japan has bought 7s and 10s.
Several news articles have ...
Posted in Uncategorized | Comments Off on Overnight Flows
Tuesday, February 3rd, 2015
This is an excellent article via Bloomberg on the diminished levels of liquidity in the Treasury market. Thanks to a long time reader for the heads up on this one.
Via Bloomberg:
The Treasury Market's Legendary Liquidity Has Been Drying Up
(Bloomberg) -- Trading Treasuries keeps getting tougher and tougher.
For decades, the $12.5 trillion ...
Posted in Uncategorized | Comments Off on Diminished Liquidity in Treasury Market
Monday, February 2nd, 2015
Via Marc Chandler at Brown Brothers Harriman:
Today at 6:38 AM
Drivers for the Week Ahead
- A combination of factors has frayed the consensus about the trajectory of Fed policy and the strength of the US economy
- Anemic wage growth appears to be a global phenomenon
- We continue to ...
Posted in Uncategorized | Comments Off on FX
Monday, February 2nd, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
Economic Data
* 8:30am: Personal Income, Dec., est. 0.2% (prior 0.4%)
* Personal Spending, Dec., est. -0.2% (prior 0.6%)
* PCE Deflator m/m, Dec., est. -0.3% (prior -0.2%)
* PCE Deflator y/y, Dec., est. 0.8% (prior 1.2%)
* PCE Core m/m, Dec., est. 0.0% (prior 0.0%)
* PCE Core ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Monday, February 2nd, 2015
Benoit Coeure is a member of the ECBs Executive Board. He spoke overnight and commented on the planned QE. He said it would not end in haste and was open ended to the extent that the ECB would do more if necessary.
Via the WSJ:
ECB Coeure: QE Program is Open Ended
Todd ...
Posted in Uncategorized | Comments Off on Coeure Comments