Archive for July, 2015
Tuesday, July 14th, 2015
Via Bloomberg:
Intel, Bank of America May Issue Debt After Reporting Earnings
2015-07-14 15:29:07.827 GMT
By Allan Lopez and Robert Elson
(Bloomberg) -- The following may issue debt in the near
future as they exit earnings blackout tomorrow:
* Bank of America (BAC) Baa1/A-
* Reported 1Q earnings April 15; issued $5b, 3-part deal
April 16
* $8.98b maturities ...
Posted in Uncategorized | Comments Off on Possible Corporate Issuance
Tuesday, July 14th, 2015
One rarely sees analysis pieces on this one but Millan Mulraine at TDSecurities offers his view on this morning's weak NFIB sentiment index.
The small business confidence declined unexpectedly in June, as the headline NFIB optimism index slipped from a 5-month high of 98.3 to 94.1. This was a weaker performance ...
Posted in Uncategorized | Comments Off on Small Business Sentiment
Tuesday, July 14th, 2015
Via Bloomberg:
G CREDIT: List of New Issues Expected to Price in U.S. Today
2015-07-14 14:00:05.151 GMT
By Allan Lopez
(Bloomberg) -- 12 new issues expected to price today:
* PepsiCo $benchmark A1/A
* 2Y fxd and/or FRN, 7Y, 10Y, 30Y
* IPT 2Y fxd +60 area, 2Y FRN 3mL equivalent, 7Y +105/110,
10Y +120/125, 30Y +150 area
* ...
Posted in Uncategorized | Comments Off on Today’s Corporate Calendar
Tuesday, July 14th, 2015
Via Bloomberg:
RATES: Longs Steady, Shorts See Small Rise in Latest JPM Survey
2015-07-14 11:10:20.483 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended July 13 vs weeks ended July 6, June 29.
* Longs 13 vs 13 vs 18
* Neutrals 52 vs 54 vs 53
* Shorts 35 vs 33 ...
Posted in Uncategorized | Comments Off on JPM Duration Survey
Tuesday, July 14th, 2015
Via Millan Mulraine at TDSecurities:
Retail sales activity weakened unexpectedly in June, with the pace of sales falling 0.3% m/m. This was well short of the market consensus for a more robust 0.3% m/m advance, and it comes on the heels of the downwardly revised 1.0% m/m gain (previously reported as ...
Posted in Uncategorized | Comments Off on Retail Sales Analysis
Tuesday, July 14th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Consolidates as Fresh Developments Awaited
- The Greek drama turns to the Syriza government attempting to secure parliamentary approval for the tentative agreement with European finance ministers
- The trajectory of US monetary policy has been another factor shaping the investment climate
- China reported a ...
Posted in Uncategorized | Comments Off on FX
Tuesday, July 14th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 6:00am: NFIB Small Business Optimism, June, est. 98.5
(prior 98.3)
* 8:30am: Retail Sales Advance, June., est. 0.3% (prior
1.2%)
* Retail Sales Ex Auto, June, est. 0.5% (prior 1%)
* Retail Sales Ex Auto and Gas, June, est. 0.4% (prior
0.7%)
* Retail Sales Control Group, ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, July 14th, 2015
Via Bloomberg:
IG CREDIT: Volume Higher; Heavy Issuance Expected
2015-07-14 10:11:42.155 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $11.3b vs $9.4b Friday, $9.6b the previous Monday. 10-
DMA $11.6b.
* 144a trading added $1.9b of IG volume vs $1.7b Friday, $1.7b
last Monday
* Most active issues over 3 years:
* TWC ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Yesterday
Tuesday, July 14th, 2015
Via the WSJ:
Small-business owners turned much less confident about their economic situation in June, according to a report released Tuesday. The dark mood was evident at businesses in both shale and nonshale states.
The National Federation of Independent Business’s small-business optimism index unexpectedly fell to 94.1 in June from 98.3 in ...
Posted in Uncategorized | Comments Off on Small Business Optimism Tumbled in June
Tuesday, July 14th, 2015
This Bloomberg story provides an excellent synopsis of the process the accord must undergo to pass Congressional muster. Congress several months agoo passed a bill which specifically authorized this process.
I am not a Constitutional scholar but that action struck me as a bit of self neutering. The Constitution says that ...
Posted in Uncategorized | Comments Off on Iran Deal and Congress