Archive for October, 2015
Wednesday, October 21st, 2015
This is via a fully paid up subscriber from across the pond. I have no idea regarding his source for this:
ECB VIEW: ***Below are bank views for Thurs Governing Council meeting in Malta:
- Barclays: Expect GC to reiterate its willingness, ability and readiness to
act. Do not think ECB will extend ...
Posted in Uncategorized | Comments Off on ECB Views
Tuesday, October 20th, 2015
The NYTimes had a very long article on the pension crisis in Brazil. For some reason I was unable to cut and paste the article into this blog. However reason magazine has a story about the giant problem . One commentator in the article describes it as "Greece on a ...
Posted in Uncategorized | 2 Comments »
Tuesday, October 20th, 2015
Via Bloomberg:
Treasuries Volatility Drops Toward '15 Low as Fed Seen Sidelined
Kevin Buckland
October 20, 2015 — 8:49 PM EDT
Treasuries investors are paring bets for price swings toward the lowest level this year as the odds recede for the Federal Reserve’s first interest-rate increase since 2006 to come by December.
A gauge of ...
Posted in Uncategorized | Comments Off on Declining Vol
Tuesday, October 20th, 2015
For the most part the Treasury market is an oasis unfettered by rules and regulations under which other fixed income and equity markets operate. There is an appalling lack of transparency as there is no Trace system and there is no "tape" as there is in the equity market. Notwithstanding ...
Posted in Uncategorized | Comments Off on Regulating the Treasury Market
Tuesday, October 20th, 2015
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: The level of vacancies for skilled workers rebounded in 2014 but has stabilized this year. Reflecting the sharp reductions of capital spending and skilled workers needed to produce new capital equipment and structures, the level of skilled vacancies remains about ½ of the ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, October 20th, 2015
Via the good folks at Bloomberg:
IG CREDIT: List of New Issues Expected to Price in U.S. Today
2015-10-20 14:01:00.0 GMT
By Allan Lopez
(Bloomberg) -- List of new issues expected to price today:
* FedEx $benchmark Baa1/BBB
* 30Y
* IPT: +210/215
* Books: MIZ, MS, WFS
* National Rural Utilities $benchmark A1/A
* 5Y, 10Y collateral trust bonds
* ...
Posted in Uncategorized | Comments Off on New Issue Calendar
Tuesday, October 20th, 2015
Via Stephen Stanley at Amherst Pierpont Securities:
Housing starts rebounded to a higher-than-expected level of 1.206 million units annualized in September, led by a jump in multi-family starts. In fact, both starts and permits were essentially flat for single-family homes last month (at 740K and 697K respectively). The traditionally less volatile ...
Posted in Uncategorized | 2 Comments »
Tuesday, October 20th, 2015
WSJ reports that Amazon plans to hire 100,000 workers to deliver packages during the Christmas season. That is up from 80,000 last year. Sounds great but brick and mortar guys expect no increase so this is mostly Amazon cannibalizing its brick and mortar competitors as it gains a larger share ...
Posted in Uncategorized | Comments Off on Seasonal Hiring
Tuesday, October 20th, 2015
TDSecurities does not believe that the election result will have lasting impact on the currency.
Via TDSecurities (an excerpt from a longer note):
The CAD is unchanged after the Liberal party unseated
the conservatives and will form a majority
government for their first time since 2004. In general, we note that it
is fairly uncommon ...
Posted in Uncategorized | Comments Off on Cad Dollar
Tuesday, October 20th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Softer in Another Turnaround Tuesday
- US Treasury’s report on foreign exchange and international economics highlighted Chinese outflows and Taiwan’s intervention
- Justin Trudeau’s Liberal Party won a surprise majority in Canada’s election
- San Francisco Fed President John Williams added to the timing debate yesterday, ...
Posted in Uncategorized | Comments Off on FX