Archive for July, 2015
Wednesday, July 8th, 2015
I have been without Bloomberg for about 15 months now. It was a difficult adjustment at first but I have achieved an equilibrium now. The FT has an interesting post on the Bloomberg terminal and its functions and ability to hook the user.
Via the FT:
When the producers of The Newsroom ...
Posted in Uncategorized | Comments Off on On Bloomberg’s Dominance
Wednesday, July 8th, 2015
This is completely non market related but is hysterical if you appreciate very dry humor. It is from a site called Language Log at the University of Pennsylvania. Click here for link.
Posted in Uncategorized | Comments Off on Understanding the Comma Via a Visual Aid
Wednesday, July 8th, 2015
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-07-08 14:01:00.0 GMT
By Allan Lopez
(Bloomberg) -- 3 new issues expected to price today:
* General Motors Financial $benchmark Ba1/BBB-
* 5Y fxd and/or FRN, 10Y
* IPT 5Y fxd +185 area, 5Y FRN 3mL equiv, 10Y +220 area
* Books: Barclays, BNPP, ...
Posted in Uncategorized | Comments Off on New issue Calendar
Wednesday, July 8th, 2015
Via Ian Lyngen at CRT Capital:
We are optimistic about this afternoon's 10-year auction and expect non-dealer interest to be significant (averages 66% for this benchmark) and see the risks skewed toward a stop-through. This morning's downtrade has priced-in a meaningful concession off the overnight highs and the ongoing Greek uncertainty ...
Posted in Uncategorized | Comments Off on Ten Year Auction Outlook
Wednesday, July 8th, 2015
7/7 CLOSE 7/8 OPEN CHANGE
GE 24 90/87 91/88 +1
WFC 25 119/116 120/117 +1
JPM 25 137/134 138/135 ...
Posted in Uncategorized | Comments Off on Long Dated Financials
Wednesday, July 8th, 2015
Via my friend Steve Liddy (apologies for the way the graphs look as that is my fault and not the author's):
The CRB is down 12+ pts in a week. The situation in China points to a deflationary environment the market has been concerned about. I realize what the FED is ...
Posted in Uncategorized | Comments Off on TIPS Thoughts
Wednesday, July 8th, 2015
The author is a market maker in plain vanilla swaps who requires anonymity. He writes excellent commentary and analysis and this is a worthwhile read.
Via a fully paid up subscriber:
The rates markets have had to absorb and "price" a lot of external data. Market participants are tired of talking about ...
Posted in Uncategorized | Comments Off on Excellent Commentary
Wednesday, July 8th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 7:00am: MBA Mortgage Applications, July 3 (prior -4.7%)
* 3:00pm: Consumer Credit, May, est. $18.5b (prior
$20.541b)
* Central Banks
2:00pm: FOMC Minutes, June 16-17
2:00pm: Fed’s Williams speaks in Los Angeles
* Supply
* 1:00pm: U.S. to sell $21b 10Y notes in reopening
Posted in Uncategorized | Comments Off on What to Watch Today
Wednesday, July 8th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Budgets and Deadlines
- The dollar pared its gains late Tuesday, when newswire reported that Greece and its creditors are discussing a deal which will be split in two parts; the ECB meets today to review Greece's ELA
- The UK government will release the first ...
Posted in Uncategorized | Comments Off on FX
Wednesday, July 8th, 2015
Via Bloomberg:
IG CREDIT: MSFT 2055 Led Trading; KFW 3Y Set to Price
2015-07-08 10:13:43.557 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.6b vs $9.6b Monday, $16.0b last Tuesday. 10-DMA
$12.4b; 10-Tuesday moving avg $15.8b.
* 144a trading added $2.1b of IG volume vs $1.7b on Monday,
$2.1b last Tuesday
* ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Yesterday