Archive for June, 2015
Tuesday, June 23rd, 2015
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-06-23 14:02:00.0 GMT
By Allan Lopez
(Bloomberg) -- 5 new issues expected to price today:
* H.J. Heinz $benchmark Baa3/BBB-
*
* 2Y fxd and/or FRN, 3Y fxd and/or FRN, 5Y, 7Y, 10Y, 20Y,
30Y
* 144A/Reg S with reg rights
* IPT 2Y fxd +110, ...
Posted in Uncategorized | Comments Off on Today’s New Issue Corporates
Tuesday, June 23rd, 2015
Via Ian Lyngen at CRT Capital:
The 2-year sector is trading lower this morning despite the softer data, pricing in a modest outright concession although still outperforming the rest of the curve. We're constructive on this afternoon's auction as it benefits from being a quarter-end issue and this sector has a ...
Posted in Uncategorized | Comments Off on Two Year Auction Today
Tuesday, June 23rd, 2015
Via a fully paid up subscriber:
JPM Treasury Client Survey, June 22, 2015
All Clients
Date Long Neutral Short Changes
06/22 16 50 34 14
06/15 16 46 38 31
06/08 9 52 39 ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Tuesday, June 23rd, 2015
Via Gennadiy Goldberg at TDSecurities:
Treasury will sell $90B at this week’s 2s5s7s auction series, with $74.1B in redemptions bringing net cash raised at the sale to $15.9B. While the market’s interpretation of the June FOMC meeting as relatively dovish should help support demand at auction, Greek headlines could complicate demand ...
Posted in Uncategorized | Comments Off on Auction Previews
Tuesday, June 23rd, 2015
Via Stephen Stanley at Amherst Pierpont Securities:
Durable goods orders in May were somewhat weaker than expected. The headline measure sank by 1.8%, dragged down by a sharp drop in the volatile aircraft category (Boeing bookings were down in May). Excluding defense and aircraft, durable goods orders managed to post a ...
Posted in Uncategorized | Comments Off on Tepid Durables
Tuesday, June 23rd, 2015
Via the WSJ:
Citadel Makes Inroads Into Swaps Arena
Hedge-fund firm steps into breach created by postcrisis rules overhauling trading in interest-rate swaps
Citadel’s emergence as a big market maker in interest-rate swaps may draw other nonbank firms into what is seen as a potentially lucrative business. ENLARGE
Citadel’s emergence as a big market ...
Posted in Uncategorized | Comments Off on Citadel Makes Huge Gains in Swaps Market
Tuesday, June 23rd, 2015
Via Bloomberg:
Major Money Manager Braces for Bond-Market Collapse
by Lisa Abramowicz
June 22, 2015 — 11:53 AM EDT
TCW Group Inc. is taking the possibility of a bond-market selloff seriously.
So seriously that the Los Angeles-based money manager, which oversees almost $140 billion of U.S. debt, has been accumulating more and more cash in ...
Posted in Uncategorized | Comments Off on Waiting for Bond market Collapse
Tuesday, June 23rd, 2015
Via Bloomberg:
nvestors risk falling into liquidity traps as they seek to boost yields depressed by the European Central Bank’s 1.1 trillion euro ($1.2 trillion) bond-buying program, according to Pacific Investment Management Co.
The search for yield has caused investors to buy riskier and less frequently traded bonds, which may be hard ...
Posted in Uncategorized | Comments Off on Consider Liquidity When Grabbing Yield
Tuesday, June 23rd, 2015
Via WSJ:
By
Charles Forelle
Updated June 23, 2015 5:01 a.m. ET
ATHENS—To avert a default and possible exit from the eurozone, Greek Prime Minister Alexis Tsipras must sell Germany’s chancellor, Angela Merkel, on his plan to fix Greece’s finances.
Then he needs to persuade Vassilis Chatzilamprou.
But the lawmaker from Mr. Tsipras’s left-wing ...
Posted in Uncategorized | Comments Off on Selling Compromise to Hard Left In Greece Will Be Tough Chore
Tuesday, June 23rd, 2015
Via the FT:
EconomyEurozone growth running at a four-year high
36 minutes ago
URL
Twitter
The latest measurements of the health of the eurozone manufacturing and services data have picked up to the highest levels in 49 months.
New preliminary data from Markit show that the purchasing managers' index covering the two sectors now stands at ...
Posted in Uncategorized | Comments Off on Eurozone Manufacturing Strengthening