Bank name Quotes
Thursday, February 11th, 2016Via a fully paid up subscriber: WFC 2.55 20 128/123 +6 WFC 3.55 25 160/155 +7 WFC 4.10 26 245/240 ...
Archive for February, 2016
Via a fully paid up subscriber: WFC 2.55 20 128/123 +6 WFC 3.55 25 160/155 +7 WFC 4.10 26 245/240 ...
Corporate Bond Color
Thursday, February 11th, 2016I just spoke with a syndicate desk manager at a small non primary. He tells me that SocGen and DB paper in 10 year sector is 25 basis points to 30 basis points wider from yesterday's levels. JPM paper in same sector is 5 basis points to 10 basis points ...
Distended Belly
Thursday, February 11th, 2016As the market breaks to new low yields the belly of the curve continues to march to richer levels. The 5 year note is flirting with 1.00 percent. I had marked 2s 5s at 42 basis points at 500 AM and it now trades at 40.8 basis points. The 5s ...
Fear Now Ascendant
Thursday, February 11th, 2016At 500AM when I first marked levels 10 year Spain traded 15 cheap to US. That spread now out to + 23. At same time 10 year Italy has widened to + 18 from + 6.
FX
Thursday, February 11th, 2016Via marc Chandler at Brown Brothers Harriman: Stocks Crater, Yen Soars - The continued sell-off in global equities is the main driver of the capital markets - The combination of falling share prices and the sharp fall in US Treasury yields have continued to drive the yen higher; the bar to material FX ...
Wider Credit Spreads
Thursday, February 11th, 2016Via an excerpt from a piece by Bob Elson of Bloomberg: * Bloomberg US IG Corporate Bond Index OAS at 215.0 vs 215.3, a new wide since June 2012; 129.6 was 2015 low * 2014 high/low 144.7/102.3 * BofAML IG Master Index at +217, another new wide for 2015/16 and widest level since July 2012, ...
Resistance
Thursday, February 11th, 2016I am not a technician nor do I pretend to be but the level around 1.60 on 10 year note should be huge resistance. As I pointed out in last post 10s traded down to 1.64 last January 30th (and then fell out of bed). I think a breach of ...
Curvology History
Thursday, February 11th, 2016I was just checking my copious notes and it appears to me that on January 30 2015 we closed that month end with Long Bond at 2.226. The 10s 30s spread was 58.2 basis points and the 10 year yield was 1.644. The yield on the 2 year note was ...
Credit Angst in Banking Sector
Thursday, February 11th, 2016Via Bloomberg: February 11, 2016 — 5:10 AM EST European banks and insurers’ subordinated credit risk rose to the highest since March 2013 after disappointing earnings at Societe Generale SA and Zurich Insurance Group AG renewed concerns about financial companies’ profits. The cost of insuring junior debt rose for the 10th time in ...
Sweden Throws Gasoline on Raging Inferno
Thursday, February 11th, 2016Via the WSJ: By Charles Duxbury Updated Feb. 11, 2016 5:01 a.m. ET Sweden’s central bank cut its main interest rate even further below zero on Thursday as it sought to hold down the national currency to support a recovery in the inflation rate toward a 2% target. The bank, known as Sweden’s ...