Archive for May, 2015
Thursday, May 28th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Turns Mixed, Chinese Shares Tumble
The US dollar is mixed after making new multi-year highs against the yen near JPY124.30 in Asia, while month-end positioning appears to have helped fuel an extension of the euro's recovery that began in the North America yesterday. ...
Posted in Uncategorized | Comments Off on FX
Thursday, May 28th, 2015
Via Bloomberg:
Chinese stocks plunged the most in four months on record turnover as brokerages tightened lending restrictions and the central bank drained cash from the financial system.
The Shanghai Composite Index tumbled 6.5 percent to 4,620.27 at the close, dragged down by financial and commodity companies. Citic Securities Co., the biggest-listed ...
Posted in Uncategorized | Comments Off on China Stocks Plunge
Thursday, May 28th, 2015
Via Bloomberg:
IG CREDIT: Trading Volume Improves; FINNVE Expected to Price
2015-05-28 10:01:14.596 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $17.8b vs $12.7b Tuesday, $15.6b last Wednesday.
* 10-DMA $14.0b
* 144a trading added $2.8b of IG volume vs $1.9b on Tuesday,
$3.1b last Wednesday
* Most active issues longer than ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond Trading Yesterday
Thursday, May 28th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=hdd5a230,12c9e912,12c9e913&p1=136122&p2=cb9f9de425cf825abcbb1184a07cda2a> The title's self-evident really. An a quiet day approaching month-end, EUR/USD 'should' bounce but if it doesn't, 1.0650 is the ...
Posted in Uncategorized | Comments Off on Musings on FX
Thursday, May 28th, 2015
Japan based asset managers bought Long Bonds. That same group sold 10s. Asian banks and European banks bought 10s. Asian asset managers bought spread product which motivated dealer buying of 7s and 10s.There were eclectic sellers of 2s and one dealer noted a very large forward roller into the new ...
Posted in Uncategorized | Comments Off on Overnight Treasury market Flows
Thursday, May 28th, 2015
Via a Fully Paid Up Subscriber:
MONTH-END EXTENSIONS: Barclays final month end extensions vs prelim for June 1:
- US Tsys +0.14 vs +0.13 yrs prelim
- Agencies: +0.08 yrs vs +0.07 yrs in prelim
- Credit: +0.10 yrs vs +0.09 yrs in prelim
- Govt/Credit: +0.13 yrs vs +0.12 yrs in prelim
- MBS: +0.11 ...
Posted in Uncategorized | Comments Off on Mont End Extensions
Wednesday, May 27th, 2015
Via Ian Lyngen at CRT Capital:
We are apprehensive about this afternoon's 5-year auction as the sector has recently underperformed the long-end of the curve. On the other hand, with the WI suggesting the highest yield for a new 5-year since Dec, we're cognizant that could prove an incentive to bid ...
Posted in Uncategorized | Comments Off on Five Year Note Auction
Wednesday, May 27th, 2015
This commentary is from a market maker in the swaps market and is an excellent post on what drives the market currently and on the unintended consequences of the grotesque piece of legislation known as Dodd Frank. With the permission of the author (who requests anonymity) I edited out a ...
Posted in Uncategorized | Comments Off on Swap Market Commentary: Excellent Read
Wednesday, May 27th, 2015
Via Bloomberg:
RATES: Shorts Fall in Latest JPM Survey
2015-05-27 12:07:31.887 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended May 26 vs weeks ended May 18, 11.
* Longs 11 vs 9 vs 9
* Neutrals 65 vs 63 vs 58
* Shorts 24 vs 28 vs 33
* Net longs -13 ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Wednesday, May 27th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
*
* 7:00am: MBA Mortgage Applications, May 22 (prior -1.5%)
* Central Banks
*
* G-7 finance ministers and central bankers meet in
Dresden, Germany
* 10:00am: Bank of Canada seen keeping overnight lending
rate at 0.75%
* Supply
*
* 11:30am: U.S. to sell $25b 1Y bills, $45b 4W bills
* ...
Posted in Uncategorized | Comments Off on What to Watch Today