Archive for May, 2015
Monday, May 11th, 2015
This is an excerpt from the end of day note from David Ader at CRT Capital to that firm's clients.
Via David Ader at CRT Capital:
Treasuries sold off on Monday as 10-year yields pressed above 2.27%, erasing all of Friday's gains while remaining below last week's yield peak of 2.31% -- ...
Posted in Uncategorized | Comments Off on End of Day Note
Monday, May 11th, 2015
Dealers report heavy origination selling of MBS today. There is only interdealer liquidity and one trader described that as fleeting. MBS is 2 ticks to 5 ticks wider on the day and the same trader noted that at current levels he thought stops would soon be triggered in Treasuries which ...
Posted in Uncategorized | Comments Off on MBS
Monday, May 11th, 2015
The Treasury market is under pressure once again as the salutary environment which prevailed Friday fades. Dealers report real money sellers of the long end and fast money sellers across the curve as the Bund fades.There is heavy supply today in corporates and Jack Lew and his minions begin to regurgitate ...
Posted in Uncategorized | Comments Off on Treasury Market Update
Monday, May 11th, 2015
Via Bloomberg:
=============================================================================
Robert Elson
(212) 617-2981
[email protected]
Bloomberg L.P.
731 Lexington Avenue / 4th Floor
New York, NY 10022
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-05-11 14:13:37.760 GMT
By Allan Lopez
(Bloomberg) -- The following is a list of new issues
expected to price today:
* Daimler Finance North America $benchmark A3/A-
* 3Y fxd and/or FRN, ...
Posted in Uncategorized | Comments Off on Today’s New Corporates
Monday, May 11th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 10:00am: Labor Market Conditions Index Change, April
(prior -0.3)
* 10:00am: Labor Market Conditions Index Change, April
(prior -0.3)</li></ul>
* Central Banks
* 11:00am: Bank of England bank rate, est. 0.50% (prior
0.50%)
* 11:00am: Bank of England bank rate, est. 0.50% (prior
0.50%)</li></ul>
* Supply
* 11:00am: U.S. to ...
Posted in Uncategorized | Comments Off on What to Watch for Today
Monday, May 11th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
- There are five questions that may be answered in the week ahead:
- After the US economy appears to have contracted (-0.5% to -0.8%) in the first quarter, how is the economy doing here in Q2 which is half over ...
Posted in Uncategorized | Comments Off on FX (Very Long Today)
Monday, May 11th, 2015
Via Ekathimerini (a Greek newspaper)
German Chancellor Angela Merkel is coming under growing pressure from within the ranks of her own party bloc to give up on Greece for the sake of the euro.
Members of Merkel’s Christian Democratic bloc are openly challenging her stance of keeping Europe’s most-indebted country in the ...
Posted in Uncategorized | Comments Off on Merkel Urged to Allow Grexit
Monday, May 11th, 2015
Via the good folks at Bloomberg:
G CREDIT: Client Flows Led Trading Volume; KDB 5Y to Price
2015-05-11 09:45:49.304 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.6b Friday vs $18.2b Thursday, $10.6b the previous
Friday.
* 10-DMA $15.5b
* 144a trading added $1.7b of IG volume Friday vs $2.9b
Thursday, $1.2b ...
Posted in Uncategorized | Comments Off on Secondary market Trading of Corporate Bonds on Friday
Monday, May 11th, 2015
Prices of Treasury coupon securities opened better bid overnight as the sanguine mood which developed on Friday after the labor data persisted.That jolly mood faded as traders developed sweaty palms over a Greece payment of 750 million Euros due to the IMF tomorrow. Negotiations continue on a plan to avoid ...
Posted in Uncategorized | Comments Off on Treasury market Update
Monday, May 11th, 2015
Via the FT:
Italian, Spanish and Portuguese bond yields are spiking as Greece faces looming debt repayments, while investors are even backing out of debt issued by Germany, the eurozone's industrial powerhouse.
The yield on Italian ten-year bonds have risen by eight basis points to 1.754 per cent. Spanish ten-year bonds are ...
Posted in Uncategorized | Comments Off on Greek Angst Roils European Debt markets