Archive for June, 2015
Monday, June 8th, 2015
This is very late and I offer my apologies as I am enjoying the fruits of retirement today.
Via Bloomberg at 1005AM this morning:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-06-08 14:01:00.3 GMT
By Allan Lopez
(Bloomberg) -- 5 new issues expected to price today:
* Exelon $benchmark Baa2/BBB-
*
* 2Y ...
Posted in Uncategorized | 2 Comments »
Monday, June 8th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: The NAB Business Confidence and Business Conditions indexes for May will be released, both of which has signaled sluggish growth conditions over the first 4 months of 2015.
CHINA: The BBerg consensus expects the CPI for May to slip to 1.3% YOY after a ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Monday, June 8th, 2015
My friend Steve Liddy offers some discourse on a bearish formation for Long Bonds.
Via Steve Liddy:
Today at 12:59 PM
Last week’s 22.1bp sell off, in LBs, accelerated the move higher on the 50d MA. Right now, the 50D is moving higher at 1-1.2bp per day, while the 200d MA is still ...
Posted in Uncategorized | Comments Off on Death Cross?
Monday, June 8th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
*
* 10:00am: Labor Market Conditions Index Change, May
(prior -1.9)
* Central Banks
*
* 11:00am: U.S. to announce plans for auction of 4W bills
* 11:30am: U.S. to sell $24b 3M bills, $24b 6M bills
Posted in Uncategorized | Comments Off on Very Little to Watch Today
Monday, June 8th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
- The most important driver of the dollar remains the de-synchronization of the monetary policy cycles
- The Fed is unlikely to be swayed by the IMF's logic of waiting until next year to hike rates
- The dramatic sell-off in European ...
Posted in Uncategorized | Comments Off on FX
Monday, June 8th, 2015
Via a fully paid up subscriber:
this Kathimerini story going around...
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_08/06/2015_550788
The Greek government is redrafting the 47-page proposal it sent to lenders last week with the aim of securing an agreement that would allow the disbursal of 7.2 billion euros in bailout funding. Kathimerini understands that Athens is focussing its ...
Posted in Uncategorized | Comments Off on Greek Newspaper Story
Monday, June 8th, 2015
Via Bloomberg:
IG CREDIT: Volume Falls, Spreads Lower; KOHNPW to Price
2015-06-08 09:50:07.430 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $11.9b Friday vs $15.7b Thursday; $17b the previous
Friday was the largest Friday volume going back to 2005.
* 10-DMA $14.6b
* 144a trading added $1.4b of IG volume Friday ...
Posted in Uncategorized | Comments Off on Secondary market Corporate Bond Trading on Friday
Monday, June 8th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=hdea1b25,12e9497d,12e9497e&p1=136122&p2=bc88cd8a81d04ef5d796527f7702fd82>
Monday's are all about reacting, of course, and we are reacting to a variety of evnts this morning (Turkish elections, concerns about MERS in S Korea, as well as concerns about Asian slowdown and a cheap yen) as well as Friday's jobs data. But once the ...
Posted in Uncategorized | Comments Off on Monday Morning FX Musings
Monday, June 8th, 2015
HSBC (which at one time also employed me to hawk bonds) has moved its call for Fed rate hikes to December from September. They have also lowered their estimate of US GDP for this year and they have slowed their forecast for the pace of subsequent hikes.
Via a fully paid ...
Posted in Uncategorized | Comments Off on Rate Hikes Deferred
Monday, June 8th, 2015
Nick Butler blogs for the FT ( an honorable vocation indeed) and he writes that OPEC's failure to cap oil production leaves the market unbalanced with an excess of supply over demand. The immutable laws of economics will come into play and he argues that prices will once again drift ...
Posted in Uncategorized | Comments Off on Oil Prices Move Lower