Archive for October, 2015
Monday, October 26th, 2015
Dealers have reported dip buyers in the overnight session. I have heard of central banks buying in the 7 year through 10 year sector and other end users buying in the 3 year through 5 year sector.
The curve has flattened from Friday closing levels. The 5s 10s spread has narrowed ...
Posted in Uncategorized | Comments Off on Overnight Flow
Monday, October 26th, 2015
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=heee7b66,148374ed,148374ee&p1=136122&p2=f2256e40c89c9a870f852fb6a647279f>
Back from the other side of the world to a Eurosceptic win in Poland, an Antipodean RWC final, and a risk-happy market. The ECB hinted; the PBoC eased. Markets are hoping for the Fed to do nothing on Wednesday (as usual) and for the BOJ to ...
Posted in Uncategorized | Comments Off on Early FX
Sunday, October 25th, 2015
Via the WSJ:
By Theo Francis and
Kate Linebaugh
Oct. 25, 2015 8:11 p.m. ET
7 COMMENTS
Quarterly profits and revenue at big American companies are poised to decline for the first time since the recession, as some industrial firms warn of a pullback in spending.
From railroads to manufacturers to energy producers, businesses say they ...
Posted in Uncategorized | Comments Off on Declining Profits and Declining Sales
Sunday, October 25th, 2015
Via Bloomberg:
China’s yuan is forecast to face increased pressure to weaken after the central bank lowered interest rates for the sixth time in a year and cut reserve requirements for lenders.
The moves “will keep the yuan under downward pressure, drive Chinese money-market rates lower, but have a largely a muted ...
Posted in Uncategorized | Comments Off on Weakening the Yuan
Saturday, October 24th, 2015
Via Bloomberg:
Bond investors looking to the Federal Reserve next week for hints about when it will be ready to lift interest rates for the first time since 2006 may be missing a bigger question.
With policy makers seemingly making little progress on their path to raising rates, they’re also delaying resolving ...
Posted in Uncategorized | Comments Off on Decision Time for Fed
Thursday, October 22nd, 2015
Via the FT:
High-yield bond funds see biggest inflows since '11
2 minutes ago
Investors raced back into higher-yielding junk bond funds at the fastest pace in four years, following a broad rally in both equity and fixed income markets as concern the Federal Reserve will tighten policy this year faded.
US mutual and ...
Posted in Uncategorized | 2 Comments »
Thursday, October 22nd, 2015
The chairman and acting CEO of UK's Barclay's Bank has attacked the bonus culture which dominates at trading firms and investment banks. I guess he is not planning on making any new hires in the near term.
Via the FT:
The chairman of Barclays has attacked the bonus system for investment bankers, ...
Posted in Uncategorized | 1 Comment »
Thursday, October 22nd, 2015
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: There are signs that the widespread weakening of property prices is moderating. In August, 61 cities reported YOY price declines while as recently as March all 70 cities in the survey were reporting declines.
S. KOREA: The BBerg consensus expects that Real GDP growth ...
Posted in Uncategorized | Comments Off on overnight Data Preview
Thursday, October 22nd, 2015
Via CRT Capital:
*** The 30-year TIPS auction was strong with non-dealer bidding at 78.3% vs. 65.9% norm (highest non-dealer allocation on record) and a stop-through of 1 bp ***
* 30-year TIPS auction stops at 1.200% vs. a 1.210% 1-pm bid WI.
* Dealers were awarded 21.7% vs. 33% average of last ...
Posted in Uncategorized | Comments Off on TIPS Result
Thursday, October 22nd, 2015
Via Stephen Stanley at Amherst Pierpont Securities:
The Treasury this morning announced that it is postponing the 2-year note auction that was scheduled for October 27 pending a resolution to the debt ceiling impasse. 5-year and 7-year note auctions will proceed next week as scheduled. Treasury intends to announce next week’s ...
Posted in Uncategorized | 1 Comment »