Archive for September, 2015

Weak Exports

Wednesday, September 30th, 2015

Weak Exports are a drag on US economy via the WSJ: By Mark Peters and Ben Leubsdorf Sept. 29, 2015 9:24 p.m. ET 17 COMMENTS Hopes for an American export boom are wilting under the weight of a strong dollar and global economic strains. U.S. exports are on track to decline this year for the first ...

More FX

Wednesday, September 30th, 2015

Via Marc Chandler at Brown Brothers Harriman: - The end of a horrendous quarter of equities and emerging markets is generating a sigh of relief that is helping lift those battered markets - Investors in Japan are focused on the likely policy response to the downdraft in the data - The ADP employment ...

Emerging Market Currencies

Wednesday, September 30th, 2015

Via Ilan Solot at Brown Brothers Harriman : Three Thoughts From London - Brazil In Focus, Mexican Oil Auctions, EM Portfolio Flows 1/ There are two important events in Brazil today: the latest polls on government approval, and the potential vote on upholding the government’s vetoes on spending. A major polling company ...

European Price Declines

Wednesday, September 30th, 2015

Via the FT: Eurozone sinks back into deflation an hour ago Oops. Prices fell by 0.1 per cent in the euro area on an annual basis, according to the latest data from Eurostat. Drab German and Spanish readings had set the scene for a decline. The rate was +0.1 in August. Food, alcohol and tobacco ...

Treasury Flow Overnight

Wednesday, September 30th, 2015

Dealers report bank portfolio selling in the 3 year through 5 year sector and money managers buying the dip in 10s and 30s.

Corporate Bond Trading Yesterday

Wednesday, September 30th, 2015

Spreads touched new wides for the year yesterday in secondary market trading. The writer notes that with equity futures rebounding today the likelihood is that we should get a spate of issuance today. Via Bloomberg: IG CREDIT: Volume Higher, Spreads Wider; Issuance May Restart 2015-09-30 09:56:23.283 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ...

More Layoffs

Tuesday, September 29th, 2015

This time it is the energy patch as Chesapeake announces layoffs of 15 percent of its workforce. Via the FT: Chesapeake Energy, the US energy company, is cutting 15 per cent of its workforce in the latest sign of the toll lower oil and gas prices are having. About 15 per cent of ...

Distended Belly

Tuesday, September 29th, 2015

I have been absent a Bloomberg terminal for over a year. It is actually twenty months as they allowed me a terminal for four months after I departed TD. Tomorrow is actually the 2 year anniversary of my retirement from that firm. Anyway, I was just checking 500PM closes and ...

Eclectic Stuff with Some Excellent S and P Technicals

Tuesday, September 29th, 2015

This is a couple of paragraphs from the closing note of David Ader and Ian Lyngen at CRT Capital: Treasuries were remarkably active on Tuesday given the slow drift toward lower yields. Overall, cash traded at 123% of the 10-day moving-average with 5s the most active issue at 29% while 10s ...

Overnight Data

Tuesday, September 29th, 2015

Via Robert Sinche at Amherst Pierpont Securities: CHINA: Despite global concerns, Consumer Sentiment has been rising sharply over recent months, having reached a 15-month high of 116.5 in August, with the September reading to be released tonight. AUSTRALIA: Private Sector Credit has been growing in excess of 6% over the last 18 ...