Archive for March, 2015
Tuesday, March 3rd, 2015
I am late with this but better late than never.
Via Robert Sinche at Amherst Pierpont Securities:
RATE DECISIONS BY THE BANK OF CANADA (expected unchanged) AND CENTRAL BANK OF BRAZIL (expected 50bp hike to 12.75%).
AUSTRALIA: The BBerg consensus expects 4Q real GDP growth to slow to 2.5% from 2.7% in 3Q, ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, March 3rd, 2015
Via Merrill Lynch Research:
Bondnanza
The ACT deal today did not exhaust the market's ability to absorb bonds, as evidenced by $10bn supply from other issuers.
The strong investor reception for the ACT deal helped allay concerns that the pick-up in supply volumes will weigh on spreads
The newly issued bonds traded on average ...
Posted in Uncategorized | Comments Off on Merrill Lynch Research on Today’s Gargantuan Corporate Bond Issuance
Tuesday, March 3rd, 2015
Via Bloomberg:
IG CREDIT: Daily Volume Tops $30b, Led by $21b 10-Part ACT Deal
2015-03-03 20:09:11.992 GMT
By Lisa Loray
(Bloomberg) -- $37.25b is expected to price from 9 issuers,
including 3 SAS deals totaling $6b, for the second-busiest day
on record.
* Today’s single session is the highest daily volume YTD and
higher volume than 4 of ...
Posted in Uncategorized | Comments Off on Gigantic Day in Corporate Bond market
Tuesday, March 3rd, 2015
Via Bloomberg ;
AUTO SALES WRAP: Feb. Sales Miss Ests. Across the Board
2015-03-03 19:59:35.285 GMT
By Libby Sallaberry McGowan
(Bloomberg) -- U.S. and Japanese Big 3 automakers all
missed estimates for auto sales in February; Autodata says Feb.
SAAR 16.23m, missing Bloomberg est. for Feb. SAAR of 16.6m.
* JPMorgan: Weather appears to have been bigger ...
Posted in Uncategorized | Comments Off on Auto Sales Disappoint in February
Tuesday, March 3rd, 2015
Via a fully paid up subscriber and Bloomberg:
CBO Says U.S. Might Not Hit Debt Limit Until End of Nov. 14:33
Congressional Budget Office says U.S. Treasury could run out of borrowing authority as late in the year as Nov., Bloomberg BNA’s Jonathan Nicholson reports.
• “By CBO’s estimate, the Treasury would probably ...
Posted in Uncategorized | Comments Off on Debt Ceiling Reprieve
Tuesday, March 3rd, 2015
Via Bloomberg:
Demand for Short-Term Paper May Grow to at Least $700b, JPM Says
2015-03-03 17:29:41.248 GMT
By Alexandra Harris
(Bloomberg) -- Demand for short-term paper may grow to
$700b-$900b during next 18 months amid regulatory-induced
changes to money markets and largest U.S. banks, JPMorgan
strategists led by Alex Roever wrote in weekly note Feb. 27.
* Flows ...
Posted in Uncategorized | Comments Off on Demand for Short End
Tuesday, March 3rd, 2015
Via Bloomberg:
BFW 03/03 18:10 *ACTAVIS SELLS $3B 7Y AT +155, $4B 10Y AT +175
BFW 03/03 18:09 *ACTAVIS SELLS $3.5B 5Y FXD AT +140, $500M 5Y FRN AT 3ML+125.5
BFW 03/03 18:09 *ACTAVIS SELLS $3B 3Y AT +130, $500M 3Y FRN AT 3ML+108
BFW 03/03 18:09 *ACTAVIS SELLS $500M 18-MONTH FRN AT 3ML+87.5, ...
Posted in Uncategorized | Comments Off on Actavis Bond Pricing
Tuesday, March 3rd, 2015
Via Bloomberg:
BFW 03/03 12:45 *ACTAVIS 7Y GUIDANCE +160 AREA, 10Y +180A, 20Y +195A, 30Y +215A
BFW 03/03 12:44 *ACTAVIS 5Y GUIDANCE +140-145, 5Y FRN LIBOR EQUIV
BFW 03/03 12:43 *ACTAVIS 2Y GUIDANCE +120-125, 3Y +130-135, 3Y FRN LIBOR EQUIV
*ACTAVIS 18-MONTH FRN 3ML+90A, +/-2.5BPS
2015-03-03 12:46:14.244 GMT
Information from person familiar with the matter, who ...
Posted in Uncategorized | Comments Off on Price Guidance
Tuesday, March 3rd, 2015
Via Bloomberg:
RATES: Longs Fall in Latest JPM Survey
2015-03-03 12:13:36.324 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended March 2 vs weeks ended Feb 23, 17.
* Longs at 13 vs 17 vs 15
* Neutrals 65 vs 63 vs 61
* Shorts 22 vs 20 vs 24
* Net longs ...
Posted in Uncategorized | Comments Off on JPM Duration Survey
Tuesday, March 3rd, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed, Aussie Shines After RBA Decision
- The Reserve Bank of Australia defied expectations and left rates on hold earlier today
- Japan reported a larger than expected rise in labor cash earnings, but adjusting for inflation real wages remain negative
- News from Europe was ...
Posted in Uncategorized | Comments Off on FX