Archive for March, 2016
Wednesday, March 9th, 2016
Via Kit Juckes at SocGen:
There's something odd about writing a morning comment after supper, but that's the West Coast for you....
“Fragile” is an understatement as a description of global markets. The IMF still wants co-ordinated fiscal easing to tackle the fragility of the global economy and avoid derailment (slim chance ...
Posted in Uncategorized | Comments Off on FX
Wednesday, March 9th, 2016
Via Bloomberg:
IG CREDIT: Volume Hits Record High 10-Tuesday Moving Average
2016-03-09 10:58:17.717 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $17.8b vs $16.5b Monday, $21.2b the previous Tuesday.
10-DMA $18.9b; 10-Tuesday moving avg $17.6b, highest on record
back to March 2005.
* 144a trading added $2.7b of IG volume vs ...
Posted in Uncategorized | Comments Off on Corporate Bond Trading Yesterday
Tuesday, March 8th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CANADA: The BoC is expected to leave its policy rate at 0.50%, where it has been since July 2015.
AUSTRALIA: Consumer Confidence for March will follow a solid rebound to 101.3 in February, with a general improvement in place since mid 2015.
INDIA: Over the next ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, March 8th, 2016
Via Ian Lyngen at CRT Capital:
We are once again constructive on this afternoon's $24 bn 3-year auction and see the risk of a stop-through in light of the recent takedowns of new 3s and the flight-to-quality influences that have been so influential in recent months. On the other hand, the ...
Posted in Uncategorized | Comments Off on Three Year Note Auction Today
Tuesday, March 8th, 2016
Via Bloomberg:
(BFW) NEW DEAL: Berkshire Hathaway $Bench Offer of Up to 8 Par
BFW 03/08 13:21 *NEW DEAL: BERKSHIRE HATHAWAY $BENCH UP TO 8-PART DEAL
NEW DEAL: Berkshire Hathaway $Bench Offer of Up to 8 Parts
2016-03-08 13:34:40.943 GMT
By Allan Lopez
(Bloomberg) -- May price today.
* IPT:
* 2Y fxd (+80a)
* 2Y FRN (3mL equiv)
* ...
Posted in Uncategorized | Comments Off on Multi Tranche Berkshire Hathaway
Tuesday, March 8th, 2016
Via Bloomberg:
=============================================================================
RATES: Active Clients Most Short Since Nov. 23, JPM Survey Shows
2016-03-08 12:13:05.666 GMTBy Alexandra Harris
(Bloomberg) -- The JPMorgan Treasury Client Survey for the
week ended March 7 vs week ended Feb. 29.
* Longs 14 vs 20
* Neutrals 64, unch
* Shorts 22 vs 16
* Net longs -8 vs 4
* “The all ...
Posted in Uncategorized | Comments Off on JPMorgan Duration
Tuesday, March 8th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Greenback Lacks Momentum, While Profit-Taking Weighs on Dollar-Bloc
Turnaround Tuesday sees recent market trends reverse
Japanese Q4 15 GDP was revised up. German February industrial production surged 3.3%
Chinese exports implosion likely exaggerate the slowdown in trade
Light North American new stream
The US dollar is mostly firmer, though ...
Posted in Uncategorized | Comments Off on FX
Tuesday, March 8th, 2016
Via Bloomberg:
Output gauge climbed 3.3 percent in January from December
Year-over-year increase was 2.2 percent on robust economy
German industrial production jumped by the most in more than six years in January, in a sign that strong domestic demand may be helping to underpin output even as external trade cools.
Production, adjusted for ...
Posted in Uncategorized | Comments Off on Big Spike in German IP
Tuesday, March 8th, 2016
Via Kit Juckes at SocGen:
Does a wet and windy day in California speak to weird global weather, or promise fruit disinflation next? Either way, we're a bit risk off overnight...
Shockingly bad Chinese trade data set the tone for the European market open, after recent strength in commodity currencies, oil prices ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, March 8th, 2016
The Treasury market has registered sharp gains in overnight trading as a risk off trade has emerged as the recent state of financial nirvana fades a bit. Yields on 5s 10s ans 30s have declined 5 to 6 basis points from levels which prevailed at the close of New York ...
Posted in Uncategorized | Comments Off on Treasury Market Recap