Archive for January, 2016
Friday, January 15th, 2016
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 8:30am: Retail Sales Advance, Dec., est. -0.1% (prior
0.2%)
* Retail Sales Ex Auto, Dec., est. 0.2% (prior 0.4%)
* Retail Sales Ex Auto and Gas, Dec., est. 0.4% (prior
0.5%)
* Retail Sales Control Group, Dec., est. 0.3% (prior
0.6%)
* 8:30am: PPI Final Demand m/m, ...
Posted in Uncategorized | Comments Off on What to Watch Today
Friday, January 15th, 2016
Via Marc Chandler at Brown Brothers Harriman:
A Bloody Friday
- The recovery of US shares and oil yesterday proved short-lived
- The risk is that US economic data disappoints
- Three Fed officials speak today: Dudley, Williams, and Kaplan
- The Hong Kong dollar posted its biggest two-day decline since ...
Posted in Uncategorized | Comments Off on FX
Friday, January 15th, 2016
The bond market is at some rather lofty levels and I was just looking at some charts and my copious notes for some context. October 2 2015 was a labor report Friday and the headline print that day fell short of expectations. Moments prior to that report I had marked ...
Posted in Uncategorized | Comments Off on Levels
Friday, January 15th, 2016
Via Bloomberg:
Oil fell to a new 12-year low below $30 a barrel in New York, while the discount on global benchmark Brent reached a five-year high as Iran moved closer to restoring exports.
West Texas Intermediate futures dropped as much as 5.1 percent in New York and are down more than ...
Posted in Uncategorized | Comments Off on Oil back Below $30
Friday, January 15th, 2016
Via Bloomberg:
Chinese shares fell into a bear market for the second time in seven months, wiping out gains from an unprecedented state rescue amid waning confidence in the government’s ability to manage the country’s markets and economy.
The Shanghai Composite Index sank 3.5 percent to 2,900.97, falling 21 percent from its ...
Posted in Uncategorized | Comments Off on China bear Emerges
Friday, January 15th, 2016
Via Kit Juckes at SocGen:
Neither one thing nor the other
Falling foreign exchange reserves, the uncomfortable co-existence of fixed and floating FX regimes and the failure of the US current account deficit to regrow with the recovery were major topics at Albert Edwards and Andrew Lapthorne’s annual Bear Party this week, ...
Posted in Uncategorized | Comments Off on Early FX
Thursday, January 14th, 2016
Via Ian Lyngen at CRT Capital:
We are constructive in our outlook for this afternoon's long-bond reopening auction and if anything we see the risks skewed toward a strong takedown and a stop-through. 30-year auctions have recently gone well and non-dealer awards continue to increase for this benchmark - led by ...
Posted in Uncategorized | Comments Off on Thirty Year Auction Preview
Thursday, January 14th, 2016
I think there will be more comments such as these in the days ahead. I have not yet seen a date for Ms Yellen's Humphrey Hawkins testimony but it will be quite interesting if equities and commodities are still under pressure. She will have to lengthen her definition of "transitory".
Via ...
Posted in Uncategorized | Comments Off on Bullard Comments on Inflation
Thursday, January 14th, 2016
This is from a market maker in swaps who requests anonymity. He makes reference to a chart which I could not reproduce on this retired guy blog. For that I apologize and it is not the fault of the author of the piece.
" Swap spreads are tighter again this ...
Posted in Uncategorized | Comments Off on Swap Commentary
Thursday, January 14th, 2016
Via WSJ:
By Justin Scheck
Jan. 14, 2016 7:46 a.m. ET
0 COMMENTS
LONDON—Oil companies delayed making decisions on 68 major projects world-wide last year, accounting for some 27 billion barrels of oil and equivalent natural-gas volumes and bringing total 2015 deferred spending to $380 billion industry wide, energy consultancy Wood Mackenzie said in ...
Posted in Uncategorized | Comments Off on Oil Price Decline and Capital Spending Moratorium