Archive for June, 2015
Tuesday, June 2nd, 2015
Excerpt from end of day note by Ian Lyngen at CRT Capital:
Treasuries continued the selloff that developed in the wake of month-end as the new month got underway. We have Monday's strong ISM to point to as the fundamental trigger, but the balance of the data has been disappointing so ...
Posted in Uncategorized | Comments Off on End of Day
Tuesday, June 2nd, 2015
Via Robert Sinche at Amherst Pierpont Securities:
The ECB is widely expected to leave all policy settings unchanged, while late in the day the Brazilian CB is expected to hike another 50bp, taking the Selic Rate to 13.75%, despite ongoing signs of recession.
AUSTRALIA: The BBerg consensus expects 1Q2015 Real GDP growth ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, June 2nd, 2015
Via Bloomberg:
RATES: UST Market Depth Is Best on Mondays YTD, JPM Says
2015-06-02 15:18:10.930 GMT
By Katherine Chiglinsky
(Bloomberg) -- This marks a change from pattern of past 5
years, during which UST market depth -- as measured by average
of top three bids and offers for 10Y note between 8:30am and
10am on BrokerTec -- ...
Posted in Uncategorized | Comments Off on Liquid Monday
Tuesday, June 2nd, 2015
Via Stephen Stanley at Amherst Pierpont Securities:
Remember a week ago when the core capital goods orders and shipments figures in the April Durable Goods report were strong, and I said something like ‘this is encouraging but let’s give it a month and see if the rebound can be sustained’? Well, ...
Posted in Uncategorized | Comments Off on Factory Orders
Tuesday, June 2nd, 2015
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-06-02 14:01:00.0 GMT
By Allan Lopez
(Bloomberg) -- 3 new issues expected to price today:
* Autodesk $600m Baa2/BBB
*
* 5Y, 10Y
* IPT 5Y +175/187.5, 10Y +225/237.5
* Books: BofAML, JPM
* Rentenbank $1.5b Aaa/AAA
*
* 10Y Global
* Launched MS +10 vs guidance MS +10, ...
Posted in Uncategorized | Comments Off on Today’s New issue Calendar
Tuesday, June 2nd, 2015
My friend Steve Liddy opines on corporate supply and the depressant effect it has on market.
Corporate supply clearly weighing
on both spreads and the outright level of rates. Attached is the Bloomberg {busc Index <Go>}, and I have it charted using OAS. This index is now at its widest level, since ...
Posted in Uncategorized | Comments Off on Guest Post
Tuesday, June 2nd, 2015
Via Bloomberg:
RATES: Record Net Shorts in Latest JPM Survey
2015-06-02 11:25:14.384 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended June 1 vs weeks ended May 26, 18.
* Longs 9 vs 11 vs 9
* Neutrals 50 vs 65 vs 63
* Shorts 41 vs 24 vs 28
* Net longs ...
Posted in Uncategorized | Comments Off on Record Shorts in JPMorgan Duration Survey
Tuesday, June 2nd, 2015
Earlier I had heard of overseas buying in the 5 year sector and moments ago another note reported that off the run tens had been "mauled". The 7 year sector off the runs are also under performing.
Posted in Uncategorized | Comments Off on Treasury Flows
Tuesday, June 2nd, 2015
*DIJSSELBLOEM SAYS PROGRESS ON GREECE STILL SLOW, INSUFFICIENT
*DIJSSELBLOEM SAYS CREDITORS STILL FAR FROM A DEAL WITH GREECE
Posted in Uncategorized | Comments Off on Greek Headlines
Tuesday, June 2nd, 2015
Via Bloomberg:
IG CREDIT: Volume Falls, Spreads Wider; 3 Set to Price
2015-06-02 09:59:42.335 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.5b vs $17b Friday. 10-DMA $14.2b.
* 144a trading added $1.8b of IG volume vs $1.8b on Friday
* The most active issues longer than 3 years:
*
* QCOM ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Yesterday