Archive for August, 2015
Tuesday, August 25th, 2015
Via Bloomberg:
RATES: Longs Rise, Shorts Fall in Latest JPM Survey
2015-08-25 12:30:06.168 GMT
By Robert Elson
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended August 24 vs week ended Aug. 17.
* Longs 17 vs 15
* Neutrals 61 vs 59
* Shorts 22 vs 26
* Net longs -5 vs -11
* "The all clients ...
Posted in Uncategorized | Comments Off on JPM Duration Survey
Tuesday, August 25th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Turnaround Tuesday with Bonus Rate Cut
- China cut rates
- Despite a mixed session in Asia, markets woke up in reversal mode in Europe even before the rate cut
- Hamada, an advisor to Japan PM Abe, fuelled calls for authorities to take more action
- German ...
Posted in Uncategorized | Comments Off on FX
Tuesday, August 25th, 2015
This is an excerpt from the morning research note at TDSecurities which provides details of the moves by China:
"Global markets have for the most part rebounded this morning, happy to
let China's problems stay in China. This is likely to be reinforced as
China has just announced a number of easing measures. ...
Posted in Uncategorized | Comments Off on Regarding China Policy Moves
Tuesday, August 25th, 2015
Via a fully paid up subscriber:
EUROZONE VIEW: RBS says it expects QE2 from the ECB before the end of the year.
- "We previously thought the ECB would have to acknowledge the deterioration in inflation dynamics in its December forecasts, announcing in the occasion an extension or acceleration of its public ...
Posted in Uncategorized | Comments Off on RBS on ECB
Tuesday, August 25th, 2015
Via Bloomberg:
IG CREDIT: Secondary Trading Volume Remains Low, Spreads Wider
2015-08-25 09:58:16.14 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $7.9b vs $7.3b Friday, $9.7b the previous Monday. 10-
DMA $11.6b; 10-Monday moving avg $10.6b, lowest since Sept.
* 144a trading added $1.8b of IG volume vs $1.3b on ...
Posted in Uncategorized | Comments Off on Corporate Bonds
Tuesday, August 25th, 2015
For context this piece from Kit Juckes was sent at 342AM New York time:
<http://www.sgresearch.com/r/?id=he78ca39,13cab6ab,13cab6ac&p1=136122&p2=0295fedd887cb263d35f42ff55205367>
After vertiginous falls by many equity markets yesterday, and dramatic moves in many currency pairs, with the yen and euro ‘winning' while China and commodity-sensitive currencies were beaten up, the ‘traditional' Tuesday reaction would be for a ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, August 25th, 2015
Dealers report mostly better buying in the overnight session. Japanese end users bought the 10 year through 12 year sector. Asian central banks sold 10s. Bank portfolios and fast money bought 5s.
Volume was very heavy. One dealer in a note sent at 149AM New York time reported that about $3billion ...
Posted in Uncategorized | Comments Off on Overnight Treasury Flow
Monday, August 24th, 2015
One dealer reports Japanese end users selling in the 3 year to 5 year sector. Volume is once again quite heavy with $1.1 billion 5s and $1.5 billion 10s having traded already.
Posted in Uncategorized | Comments Off on Asian Treasury Flow
Monday, August 24th, 2015
Liberal activists have descended on Jackson Hole Wyoming, site of an annual Federal Reserve economic symposium, to argue against a potential rate hike. The assembled Progressive throng argues that the economy is not yet strong enough to absorb a 25 basis point rate hike.
Via TheHill.com:
Liberal activists are descending upon a ...
Posted in Uncategorized | Comments Off on Activists Lobby Against Rate Hike
Monday, August 24th, 2015
Via the FT:
It's early days, but the few Asian benchmarks that have begun trading aren't off to a brilliant start.
Japan's Nikkei 225 is down 3.7 per cent, which is more than double the decline predicted by futures. The broader Topix index is down 4.3 per cent.
Australia's S&P/ASX 200 is down ...
Posted in Uncategorized | Comments Off on Weak Opening in Asia