Archive for August, 2015
Monday, August 31st, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: ISM Milwaukee, Aug. (prior 47.12)
* 9:45am: Chicago Purchasing Manager, Aug., est. 54.7
(prior 54.7)
* 10:30am: Dallas Fed Mfg Activity, Aug., est. -2.5 (prior
-4.6)
* 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, August 31st, 2015
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
- The most important driver this week will be whether the global capital markets will continue to move toward stability after the huge drama over the past week or two
- The second is the ECB meeting Thursday
- The third key ...
Posted in Uncategorized | Comments Off on FX
Monday, August 31st, 2015
Via the good folks at Bloomberg:
IG CREDIT: Highest Volume Since May; Issuance May Re-Start
2015-08-31 09:36:47.437 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $12.4b Friday vs $17.6b Thursday, $7.3b the previous
Friday. 10-DMA $12.8b. It was the highest volume Friday session
in the record $17b seen May 29.
* ...
Posted in Uncategorized | Comments Off on Secondary Market Corporate Bond Trading on Friday
Monday, August 31st, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=he82e1da,13daadb3,13daadb4&p1=136122&p2=086342e63b11436571232f9316850ed9>
Welcome to August Bank Holiday Monday in London. Yesterday, in blazing sun, La Vuelta sped by the cafe I've used as my base for breakfast and sending out comments over the last couple of weeks but the time has come to face the music, or rather ...
Posted in Uncategorized | Comments Off on FX
Monday, August 31st, 2015
This is a very interesting article from the Financial Times which makes a theoretical case that sales of US Treasuries would not cause rates to soar. The author posits that the original result of purchases by China was a stronger dollar which then led to lower inflation and lower real ...
Posted in Uncategorized | Comments Off on Will US Rates Soar if China Dumps Treasuries?
Monday, August 31st, 2015
Via Bloomberg:
Options traders have never been so pessimistic on China’s stock market, betting the government’s renewed effort to prop up share prices is doomed to fail.
The cost of bearish contracts on the China 50 exchange-traded fund has surged to the highest level versus bullish ones since they started trading in ...
Posted in Uncategorized | Comments Off on Options Market in China Not Believing Recent Equity Market Rebound
Monday, August 31st, 2015
Last evening I posted a Jon Hilsenrath story which commented that the main outcome of the Jackson Hole confab was a market perception that the FOMC was still on target to raise rates in September. FOMC members are largely nonplussed by China's woes and recent market market gyrations. The FT ...
Posted in Uncategorized | Comments Off on Hawks at Jackson Hole
Sunday, August 30th, 2015
Jon Hilsenrath and Ben Leubsdorf of the WSJ report that the aftermath of Jackson Hole conference last week the FOMC remains on track to raise rates some time this year. Policy makers are undeterred by recent volatility and the problems of China.
Via Jon Hilsenrath and ben Leubsdorf of the WSJ:
By
Jon ...
Posted in Uncategorized | Comments Off on Hilsenrath Article
Saturday, August 29th, 2015
Stephen Stanley of Amherst Pierpont Securities has an interesting note which discusses inflation and then separately the state of Fed policy:
1) Core inflation. I have discussed the fact that the core PCE deflator has run unusually low relative to the core CPI and other measures of underlying inflation. A few ...
Posted in Uncategorized | Comments Off on Weekend Miscellany
Saturday, August 29th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: The Private measure of CPI inflation for August, from TD Securities, will follow at 1.6% YOY rise in July that has been aided by the rising cost of imports as the AUD has fallen sharply, more than 20% versus last year at this ...
Posted in Uncategorized | Comments Off on Weekend Data Preview