Greece Headlines
Friday, June 19th, 2015Via a fully paid up subscriber: *DIJSSELBLOEM SPEAKS TO REPORTERS IN LUXEMBOURG *DIJSSELBLOEM SAYS BETTER DEAL OFFER FOR GREECE NOT POSSIBLE *SCHAEUBLE DOESN'T SEE `SENSATIONAL' GREEK PROGRESS BY MONDAY
Archive for June, 2015
Via a fully paid up subscriber: *DIJSSELBLOEM SPEAKS TO REPORTERS IN LUXEMBOURG *DIJSSELBLOEM SAYS BETTER DEAL OFFER FOR GREECE NOT POSSIBLE *SCHAEUBLE DOESN'T SEE `SENSATIONAL' GREEK PROGRESS BY MONDAY
Death Cross
Friday, June 19th, 2015My friend Steve Liddy has sent out a message that the 50 day moving average on the 10 year note (2.1634) has crossed the 200 day moving average (2.1632. I apologize for not having the capacity to reproduce the chart.
Corporate Pipeline
Friday, June 19th, 2015Via Bloomberg: IG CREDIT PIPELINE: Kraft Heinz May Be Next Large Deal 2015-06-19 09:40:06.27 GMT By Robert Elson (Bloomberg) -- The following names may be added to calendar in coming days, weeks, months: * H. J. Heinz Company to be renamed Kraft Heinz Foods Company (anticipated ratings of Baa3/BBB-) had investor calls June 17-18; USD deal may follow, ...
Dealer Positions
Friday, June 19th, 2015Via Bloomberg: IG CREDIT: Dealer Positions Rise Led by 5-10Y Issues 2015-06-19 10:40:36.21 GMT By Robert Elson (Bloomberg) -- Dealer positions in corporate bonds rose $4.1b to $32.1b as of June 10. $21.1b, seen Feb. 11, is the low for the series Fed began in April 2013. $45.9b, seen March 5, 2014, is the high. * Investment grade ...
Secondary market Corporate Bond Trading Yesterday
Friday, June 19th, 2015Via Bloomberg: IG CREDIT: Lowest Thurs. Session Since Apr.; HNZ May Be Next 2015-06-19 09:57:04.40 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $13.7b vs $14b Wednesday, $16.7b the previous Thursday. It was the lowest Thursday volume since $12.2b April 2. * 10-DMA $13.9b; 10-Thursday moving avg $15.7b * 144a trading ...
FX
Friday, June 19th, 2015Via Marc Chandler at Brown Brothers Harriman: Greek Banking Crisis Pulls Euro Lower The US dollar is trimming its weekly loss against the most of the major currencies, while extending its gains against the two currencies that it has appreciated against this week, namely the New Zealand dollar and the Norwegian ...
Is Greece Lehman Brother
Friday, June 19th, 2015Via Bloomberg: Greece Is No Lehman Brothers to European Markets by Anchalee Worrachate June 19, 2015 — 4:23 AM EDT For all the angst-ridden headlines proclaiming that Greece is heading for the euro-zone exit door, markets are saying this is no repeat of the debt crisis that peaked four years ago. Greek Reality Check While the ...
Bubble Trouble
Friday, June 19th, 2015Via the FT: China shares record worst week in 7 years as rally falters Gabriel Wildau in Shanghai and Peter Wells in Hong Kong Chinese stocks recorded their worst week since 2008 as investors fret that China’s world-beating equity rally has run its course. Investors and analysts are divided over whether the Shanghai and ...
Overnight Flows
Friday, June 19th, 2015Dealers from whom I receive overnight reports comment that volumes were light. The only notable activity was some buying by real money of spread product in the belly.
Early FX
Friday, June 19th, 2015Via Kit Juckes at SocGen: I'm working on the screenplay for a remake of John Steinbeck's 'The Grapes of Wrath'. The original film starred Henry Fonda as Tom Joad, one of the vast hoard of 1930s Oklahoma farmers who were evicted when their farms were re-possessed after they were bankrupted by ...