Archive for January, 2016
Tuesday, January 19th, 2016
Via Bloomberg:
U.S. regulators are taking a step toward increasing their oversight of Treasuries in response to complaints from both traders and government officials that the market is too opaque.
The Treasury Department on Tuesday plans to ask for input on how the market has changed and what should be done so ...
Posted in Uncategorized | Comments Off on Regulators Seek Greater Regulation of Treasury Market
Monday, January 18th, 2016
Via Bloomberg:
Saudi Arabia, the world’s largest crude exporter, shipped the most oil in seven months in November in a sign that overseas refineries were getting prepared to put plants back on line after seasonal maintenance.
Saudi shipments rose to 7.72 million barrels a day, the highest since April, from 7.364 million ...
Posted in Uncategorized | Comments Off on Persistently Pumping Petro Prodigiously
Monday, January 18th, 2016
Via the WSJ:
By Christopher Whittall
Jan. 18, 2016 5:10 p.m. ET
0 COMMENTS
A wave of selling has taken Europe’s corporate-bond market to levels typically seen during recessions, another indication that the turmoil in global markets could spread into the wider economy.
The gap in yields, or spread, between Eurozone high-grade corporate debt and ...
Posted in Uncategorized | Comments Off on Credit Market Alert
Monday, January 18th, 2016
Via the FT:
2 hours ago
by: Katie Martin
The chorus of concern among Portuguese bond investors is growing louder.
To recap, over the Christmas period, the Portuguese central bank surprised markets by imposing losses on bank bonds held by international investors, including Pimco and Blackrock, writes Thomas Hale.
The bonds were originally part of ...
Posted in Uncategorized | Comments Off on Portuguese Bond Angst
Monday, January 18th, 2016
Via Bloomberg:
Italian banks dropped in Milan, leading declines in the European Stoxx 600 Banks Index, reflecting investor concerns about lenders’ levels of bad debt as the European Central Bank seeks to toughen scrutiny of the region’s non-performing loans.
Banca Monte dei Paschi di Siena SpA, bailed out twice since 2009, slumped as ...
Posted in Uncategorized | Comments Off on Bad Loan in Italy
Monday, January 18th, 2016
An excellent (and long ) piece via Marc Chandler at Brown Brothers Harriman.
Drivers for the Week Ahead - What Will It Take to Stabilize the Capital Markets?
- Two weeks into the year and most investors are nursing sizable drawdowns
- The Federal Reserve did hike rates a month ago, ...
Posted in Uncategorized | Comments Off on FX View for the Week
Friday, January 15th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: Property Price data for December is likely to show more cities showing YOY price gains compared to the 21 showing higher prices in November. On Monday evening December data for Retail Sales and Industrial Production will be released, with the Bberg consensus expecting ...
Posted in Uncategorized | Comments Off on Weekend Data Preview
Friday, January 15th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The December PPI figure came in as expected. The headline index declined by 0.2%, reflecting substantial price drops for food and especially for energy. Wholesale gasoline prices sank by over 8% on a seasonally adjusted basis. Meanwhile, the core PPI posted a 0.1% rise, ...
Posted in Uncategorized | Comments Off on Inflation Data
Friday, January 15th, 2016
Via Millan Mulraine at TDSecurities:
TD SECURITIES DATAFLASH
US: Core Consumer Spending Momentum Falters
Headline retail sales declined for the first time since September, falling 0.1% m/m, owing to weaker gasoline sales.
Core spending activity was also quite weak, falling 0.3% m/m, reflecting a sharp slowdown in underlying spending momentum.
The weak spending performance ...
Posted in Uncategorized | Comments Off on Retail Sales
Friday, January 15th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Industrial production slid by 0.4% in December, worse than expected. I had actually figured that a slight increase was possible, but the surprise was entirely a function of a bad estimate on my part for utility usage. Utility usage plunged by 7% in October ...
Posted in Uncategorized | Comments Off on Industrial Production