Archive for May, 2015
Tuesday, May 12th, 2015
Bank America is a behemoth and as a result the spending activity of its retail debit and credit card clients can provide useful information on the the consumers' mood. The latest info shows that retail spending hit a perplexing soft patch in April.
Via Merrill Lynch:
Today at 6:13 AM
BofA ...
Posted in Uncategorized | Comments Off on Soft Patch for Consumers
Tuesday, May 12th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Falls as Bond Sell-Off Continues
- The unwinding of the long bonds/long US dollar position is continuing this week after it appeared to have reached climactic proportions last week
- UK industrial output figures were stronger than expected
- In Sweden, a soft inflation report ...
Posted in Uncategorized | Comments Off on FX
Tuesday, May 12th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: NFIB Small Business Optimism, April, 96.0 (prior
95.2)
* 10:00am: JOLTS Job Openings, March (prior 5.133m)
* 2:00pm: Monthly Budget Statement, April, est $138b
(prior $106.9b)
* 2:00pm: Monthly Budget Statement, April, est $138b
(prior $106.9b)</li></ul>
* Central Banks
* 12:45pm: Fed’s Williams speaks in New York
* ...
Posted in Uncategorized | Comments Off on what to watch today
Tuesday, May 12th, 2015
Via Bloomberg:
IG CREDIT: Recapping Secondary Trading; DPWDU, OKB Set to Price
2015-05-12 10:00:15.717 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $12.5b vs $13.6b Friday, $11.1b last Monday.
* 10-DMA $15.3b
* 144a trading added $2b of IG volume vs $1.7b on Friday,
$1.2b last Monday
* Most active issues, longer ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond Trading Yesterday
Tuesday, May 12th, 2015
Via the FT:
Markets Insight
May 12, 2015 6:18 am
Welcome outbreak of sanity for bonds
John Plender
Is it technical or fundamental? Postmortems on last week’s flash crash in German Bunds and the wider jump in bond yields across the developed world have revealed no consensus on the precise cause of these extreme market ...
Posted in Uncategorized | Comments Off on Making Some Sense of Fixed Income Rout
Tuesday, May 12th, 2015
Prices of Treasury coupon securities have continued their hard descent in overnight trading as investors flee instruments which performed so well last year. The rout is global with fixed income markets globally in retreat. Early in the session the market was firm as Asian banks bought 5s 7s and 10s ...
Posted in Uncategorized | Comments Off on Treasury market Update
Tuesday, May 12th, 2015
New York Fed President Dudley stated the obvious overnight with a comment that rate hikes would mark a regime change and would precipitate some market turmoil. I guess that is why he makes the big bucks.
Via Bloomberg:
Although the timing is uncertain, the Federal Reserve’s first interest-rate increase since 2006 will ...
Posted in Uncategorized | Comments Off on Dudley on Rate Hikes
Tuesday, May 12th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=hdb795e7,129a20a5,129a20a6&p1=136122&p2=0385df6c6581d5ca638fa671d110a1f6>
FX Daily link above. I've made it back to my desk after wandering aroud the US and Scotland, but not without over-sleeping this morning. Soft Swedish CPI, a little bit of Greek optimism, a small EUR/GBP correction and on-going nerves in EMFX seem to be about ...
Posted in Uncategorized | Comments Off on Musings on FX markets
Monday, May 11th, 2015
Via RObert Sinche of Amherst Pierpont Securities:
Overnight into Tuesday May 12
CHINA: Over the week ahead China will release important monetary data, with a particular focus on Aggregate Financing Activity, a measure that has been showing reduced growth, undermining the potential for strong GDP growth.
INDIA: Over the week ahead India will ...
Posted in Uncategorized | Comments Off on Overnight Preview for Tonight and Tomorrow Night
Monday, May 11th, 2015
Via Merrill Lynch Research:
Positive correlation continues. Despite the disappointing jobs report on Friday interest rate fluctuations continue to drive credit spreads. With the Fed on schedule for liftoff in 2H this supports our view we are in an environment of higher interest rates and wider credit spreads. Interest rates moved ...
Posted in Uncategorized | Comments Off on Eclectic Topics of Interest