Archive for March, 2015
Monday, March 9th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York; may be subject to delays)
Economic Data
* 10:00am: Fed Labor Market Conditions Index Change, Feb.
(prior 4.9)
Central Banks
* 1:05pm: Fed’s Kocherlakota speaks in Minneapolis
* 2:25pm: Fed’s Mester speaks in Washington
* 7:30pm: Fed’s Fisher speaks in Houston
Supply
* 11:00am: U.S. to announce plans for auction of ...
Posted in Uncategorized | Comments Off on What to Watch Today
Monday, March 9th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
- Developments last week underscored that the divergence theme continues to dominate market trends
- Although the dollar may look stretched from a short-term technical point of view, the bull market is still in place as a larger trend
- The ECB ...
Posted in Uncategorized | Comments Off on FX
Monday, March 9th, 2015
Via Bloomberg:
IG CREDIT: Spreads at New Lows for 2015; Pipeline Grows
2015-03-09 09:58:13.497 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $15b Friday vs $15.6b Thursday, $16.4b the previous
Friday. 10-DMA $16b.
* Secondary IG trading 10th highest of any Friday since Jan.
2005
* 144a trading added $1.9b of IG ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond Trading Friday
Friday, March 6th, 2015
Via Stephen Stanley at Amherst Pierpont:
The trade deficit narrowed sharply in January, though not quite as dramatically as I had expected. The deficit eased from $45.6 billion in December to $41.8 billion in January. The bulk of the improvement came from the slide in oil prices, as the petroleum balance ...
Posted in Uncategorized | Comments Off on Trade balance
Friday, March 6th, 2015
Eric Green at TDSecurities has published an excellent piece on the confluence of margin compression, rich equity valuations and the strong dollar.
Via Eric Green at TDSecurities:
Attached is a chart outlining a crude but interesting Equity model the Fed introduced in the Greenspan years. It shows the relative value in equities ...
Posted in Uncategorized | Comments Off on Be Wary of the Equity market
Friday, March 6th, 2015
Via TDSecurities:
The February jobs report was a good one though unlike the January print this iteration does have a few warts and if last month was a 10, this one is closer to an 8. The key takeaway here is that job growth is not just strong; it has been ...
Posted in Uncategorized | Comments Off on Labor Report
Friday, March 6th, 2015
Via Bloomberg:
IG CREDIT: More Than $60b Has Priced This Week, Most in 2015
2015-03-06 12:43:28.220 GMT
By Lisa Loray
(Bloomberg) -- $9.25b priced from 8 issuers, bringing
weekly volume to $62.8b, $51.8b sans SAS, both YTD highs.
* YTD volume $329.925b and $278.075b
* Yesterday’s deals:
* Domestic Corps
* $2.5b Abbott Laboratories (ABT) A2/A+ 3-part
* $750m 2.00% ...
Posted in Uncategorized | Comments Off on New Corporate Issuance Yesterday
Friday, March 6th, 2015
Via the good folks at Bloomberg:
WHAT TO WATCH:
* (All times New York; may be subject to delays)
Economic Data
* 8:30am: Change in Nonfarm Payrolls, Feb., est. 235k (prior
257k)
* Change in Private Payrolls, Feb., est. 225k (prior 267k)
* Change in Mfg Payrolls, Feb., est. 10k (prior 22k)
* Unemployment Rate, Feb., est. 5.6% ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Friday, March 6th, 2015
This is a wonderful article from the UK Guardian by Martin Kettle. He focuses on Lincoln's ability to employ the English language and suggests that at this moment in UK history that country needs an Abraham Lincoln.
This is certainly non market related but the article is excellent and Lincoln was ...
Posted in Uncategorized | 2 Comments »
Friday, March 6th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Firm Ahead of Jobs Report
- There are two main forces at work as the week winds down: the ECB’s confirmation of its asset purchase and the US jobs report
- The ECB's new forecasts seem optimistic
- One thing that could stall the euro's ...
Posted in Uncategorized | Comments Off on FX