Archive for July, 2015
Friday, July 24th, 2015
Via Bloomberg:
IG CREDIT: Dealer Positions in Corporates Rose, Led by 5-10Yrs
2015-07-24 10:30:54.804 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in corporate bonds rose
$872m to $27.7b as of July 15. $21.1b, seen Feb. 11, is the low
for the series Fed began in April 2013. $45.9b, seen March 5,
2014, is the high.
* Investment ...
Posted in Uncategorized | Comments Off on Dealer Positions in Corporate Bonds
Friday, July 24th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=he40011f,136fd642,136fd643&p1=136122&p2=e95d3997b415f8844ff7d210b0fa02ee>
Good Morning. The FX weekly we wrote last night didn't point out that a weak Caixin Chinese flash PMI (48.2 vs 49.4 last month and 49.7 expected) would tag-team with new lows in copper prices, lower oil prices, weakness in BRL, concerns about Russia (see Ambrose ...
Posted in Uncategorized | Comments Off on Early FX Thoughts
Friday, July 24th, 2015
Via Bloomberg:
IG CREDIT: QCOM, C 5Y Issues Led Trading on Client Flows
2015-07-24 09:54:39.449 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $14.9b vs $13.6b Wednesday, $15.4b the previous
Thursday. 10-DMA $13b; 10-Thursday moving avg $14b.
* 144a trading added $1.9b of IG volume vs $2.1b on Wednesday,
$2.8b last ...
Posted in Uncategorized | Comments Off on Secondary Market Corporate Bond Trading Yesterday
Thursday, July 23rd, 2015
Via the WSJ:
By Anjani Trivedi and
Carolyn Cui
July 23, 2015 7:15 p.m. ET
0 COMMENTS
The bright side of a currency decline is supposed to be rising exports. But in key emerging markets around the world, that isn’t happening.
Currencies in some countries are hitting new lows, down as much as 30% in the ...
Posted in Uncategorized | Comments Off on No Export Bounce for EMs
Thursday, July 23rd, 2015
This is some excellent analysis of the recent move in the 5s 30s curve and the next key levels to observe is it continues to motor tighter. He sent this out earlier today around 400PM New York time (for some context).
Via my former colleague and friend Steve Liddy:
Mid morning yesterday, ...
Posted in Uncategorized | Comments Off on Curve Technicals
Monday, July 20th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* No major reports
* Central Banks
* 7:50pm: Bank of Japan issues minutes of June 18-19
policy meeting
* 9:30pm: Reserve Bank of Australia issues July meeting
minutes
* Supply
* 11:00am: U.S. to announce plans for auction of 4W bills
* 11:30am: U.S. to sell $24b 3M ...
Posted in Uncategorized | Comments Off on What to Watch Today
Monday, July 20th, 2015
Via Marc Chandler at Brown Brothers Harriman:
- The central banks in the US and the UK stand in strong contrast against those of other high income countries; the divergence has not yet peaked
- China has aggressively acted to stem the equity sell-off; it appears to be working though not all ...
Posted in Uncategorized | Comments Off on FX
Monday, July 20th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=he35c8b1,136006d6,136006d7&p1=136122&p2=2d7e4c26c7044105add10c3618ce71b4>
I don't suppose I'm allowed to come over all English and declare a day of mourning after the capitulation of my country's cricket team, so that I can spend the day watching golf instead of EUR/USD?
Monday morning opinions are often biased by the trends at the ...
Posted in Uncategorized | Comments Off on Morning FX Musings
Sunday, July 19th, 2015
Via the FT:
Beware the Fed on the ides of September
Gavyn Davies
| Jul 19 16:48
Now that the major downside risks from Greece, China and Iran seem to be under control, investors are redirecting their attention to a much more familiar question: will the Fed impart a nasty ...
Posted in Uncategorized | Comments Off on Watch Your Front End Longs
Sunday, July 19th, 2015
Via Bloomberg:
BN 07/19 14:47 *MERKEL PLAYS DOWN DIFFERENCES WITH FINANCE MINISTER SCHAUEBLE
BN 07/19 14:47 *MERKEL: HAS RECEIVED NO REQUEST FOR RESIGNATION FROM MINISTER
BFW 07/19 14:47 *MERKEL: WILL PUSH FOR GREEK IMPLEMENTATION ALONGSIDE SCHAEUBLE
BN 07/19 14:47 *MERKEL SAYS GREEK DEAL MUST BE NEGOTIATED SWIFTLY
BN 07/19 14:45 *MERKEL COMMENTS IN INTERVIEW WITH ...
Posted in Uncategorized | Comments Off on Merkel on Greek Haircuts