Archive for July, 2015
Tuesday, July 7th, 2015
The Federal Reserve Bank of Atlanta tracking model for GDP now predicts that Q2 GDP will register at 2.3 percent.
Via FRB Atlanta:
Latest forecast — July 7, 2015
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2015 was 2.3 percent on July 7, ...
Posted in Uncategorized | Comments Off on GDP NOW
Tuesday, July 7th, 2015
Via the FT:
MarketsFrozen chaos hits China market: Shanghai down 8%
29 minutes ago
More than 40 per cent of China's equity market is frozen. The rest is in free fall.
Where traders can trade, equities are in a sharp downturns: the Shanghai Composite fell 8.2 per cent within 3 minutes, which would be ...
Posted in Uncategorized | Comments Off on Debacle in China
Tuesday, July 7th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
Russian President Putin hosts a 3-day BRICS Summit in Ufa. Let’s see…Brazil in recession…Russia in recession…India economy stable but slowing…China equities collapsing…this should be interesting.
Japan PM Abe speaks at the Economist magazine Japan Summit, apparently to give details on the 3rd phase of Abenomics…the ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, July 7th, 2015
Via Blomberg:
Greek Govt Says Will Present ‘Common Ground’ for Deal Tomorrow
2015-07-07 17:24:24.882 GMT
By Jenny Paris
(Bloomberg) -- The Greek government plans to present
Wednesday the “common ground” for a viable agreement with the
country’s creditors, taking into account the result of the
referendum, Greek political leaders’ positions and the
creditors’ proposals, a Greek government official ...
Posted in Uncategorized | Comments Off on Greek Headline
Tuesday, July 7th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
The Bund market, again, appears to be setting the pace for global bond markets. Combination of Greece uncertainties, global equity weakness and lower oil prices seem to be coming together to push yields lower – it seems the key levels to watch are the ...
Posted in Uncategorized | 1 Comment »
Tuesday, July 7th, 2015
One trader notes that we are approaching 200 day moving average on 10s which is 2.156.
Same trader reports that while TIPS breakevens have held up well recently they are softening today. That market maker has observed real money sellers of 10 year TIPS. Ten year TIPS breaks have cheapened 4 ...
Posted in Uncategorized | Comments Off on Treasury Market Agonies
Tuesday, July 7th, 2015
Via AP:
The Latest: Greece has not presented new reform proposals to European creditors, say officials
2015-07-07 14:21:09.592 GMT
The Latest: Greece has not presented new reform proposals to
European creditors, say officials
(Associated Press) -- BRUSSELS -- The latest on the Greek
financial crisis (all times Brussels local):
------
2:50 p.m.
Three people familiar with discussions currently taking
place ...
Posted in Uncategorized | Comments Off on No Greek Proposal on Table
Tuesday, July 7th, 2015
The market has gapped and 5s have busted through the 1.50 level. One trader noted a story circulating to the effect that Greece showed up for the summit with no proposal and will not present one until tomorrow. In addition commodities are crashing and there is an abundance of angst ...
Posted in Uncategorized | Comments Off on Treasury market Update
Tuesday, July 7th, 2015
Via Ian Lyngen at CRT Capital:
We are optimistic about this afternoon's $24 bn 3-year auction and see the risk of a stop-through in light of the recent takedowns of new 3s, relatively good performance of the sector, and the Greek-related uncertainty. On the other hand, the recent rally has prevented ...
Posted in Uncategorized | Comments Off on Three Year Auction Outlook
Tuesday, July 7th, 2015
Via Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-07-07 14:01:00.0 GMT
By Allan Lopez
(Bloomberg) -- 6 new issues expected to price today:
* AIG $benchmark Baa1/A-
* 10Y, 20Y, 30Y
* IPT 10Y +165, 20Y +175, 30Y +190 (all area)
* Books: BofAML, BNP, USB
* CBS $500m Baa2/BBB
* Long 10Y
* IPT ...
Posted in Uncategorized | Comments Off on Today’s Corporate List