Overnight Flow
Tuesday, June 23rd, 2015Dealers report real money from Japan selling 2 year notes and non Japan Asia real money selling the belly.
Archive for June, 2015
Dealers report real money from Japan selling 2 year notes and non Japan Asia real money selling the belly.
Early FX Musings
Tuesday, June 23rd, 2015Via Kit Juckes at SocGen: <http://www.sgresearch.com/r/?id=he061793,13157859,1315785a&p1=136122&p2=821db1e9cd1b7b43a0bc8d7dbf559b4c> Yesterday morning we were buying the Euro on optimism about the prospects of a Greek debt deal. This morning, the same optimism is present in press reports, and more importantly in the rapid narrowing of peripheral Eurozone bond yield spreads, but the Euro is weaker and ...
Existing Home Sales
Monday, June 22nd, 2015Via Stephen Stanley at Amherst Pierpont Securities: Existing home sales jumped by 5% in May to a 5.35 million unit annualized pace, the strongest reading since 2009. A number of favorable factors have combined to propel demand. First, the income situation for potential buyers has improved, reflecting strong job growth over ...
Today’s Corporate Bond Deals
Monday, June 22nd, 2015Via Bloomberg: IG CREDIT: List of New Issues Expected to Price in U.S. Today 2015-06-22 14:01:00.0 GMT By Allan Lopez (Bloomberg) -- 4 new issues expected to price today: * BB&T $benchmark A2/A- * * 5Y fxd and/or FRN * IPT 5Y +110 area, 5Y FRN 3mL equivalent * Books: BBT, DB, GS * Corporate Office Properties $250m Baa3/BBB- * * 10Y * ...
FX
Monday, June 22nd, 2015Via Marc Chandler at Brown Brothers Harriman: Drivers for the Week Ahead - The Greek drama is approaching the long awaited climax - The US economy is accelerating - Japan issues reports on its labor market and inflation - Separately, HSBC reports its flash manufacturing PMI for China Price action: The dollar is mixed against the ...
Bunds Getting Hit
Monday, June 22nd, 2015Via a fully paid up subscriber across the pond: BUNDS: Sep Bunds sliding lower on Greek deal optimism after earlier comments from French President Hollande reportedly saying "accord possible tonight" and German Chancellor Merkel saying its "still possible to make definitive decisions on Greece later this week". Sep Bunds trading down 120 ticks at ...
Corporate Bond Trading on Friday
Monday, June 22nd, 2015Via Bloomberg: IG CREDIT: Lowest Volume in a Month; New Big Deals May Be Seen 2015-06-22 09:44:07.876 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $10.9b Friday, the lowest session since $6.2b May 22, vs $13.7b Thursday, $11.7b the previous Friday; 10-DMA $13.8b; 10-Friday moving avg $11.6b. * 144a trading added ...
Investors Craving Liquidity
Monday, June 22nd, 2015Via Bloomberg: Three Words Count in Bonds: Liquidity, Liquidity, Liquidity (1) 2015-06-22 03:28:18.845 GMT (Adds Australia, Singapore yield move in 17th paragraph.) By Lucy Meakin (Bloomberg) -- There are three things that matter in the bond market these days: liquidity, liquidity and liquidity. How -- or whether -- investors can trade without having prices move against them has ...
Some Dealer Thoughts on Greek Outcome
Monday, June 22nd, 2015Via a fully paid up subscriber: EUROZONE VIEW: Below are bank views on Greece and chances of reaching a deal with its creditors: - Goldman Sachs says its base case remains that no agreement will be reached between Greece and its official creditors in the coming few days. "In our view, technical ...
New Greek Proposals Greeted With Optimism
Monday, June 22nd, 2015What follows is a story from Ekathimerini.com which is a Greek newspaper I have followed over the last five years during the various incarnations of the Greek financial soap opera. The story and a similar Bloomberg article note that new proposals from Greece to creditors have been positively received. Neither ...