Archive for April, 2016
Tuesday, April 12th, 2016
Via Ian Lyngen at CRT Capital:
We are optimistic about this afternoon's $24 bn 3-year auction and see the risk of a stop-through in light of the historically strong takedowns of new 3s and the net paydown of $17 bn for this week's trio of auctions - providing ample investable cash ...
Posted in Uncategorized | Comments Off on Three Year Note Auction Today
Tuesday, April 12th, 2016
I just published this and subsequently stumbled on this Bloomberg story.
Via Bloomberg:
April 12, 2016 — 12:01 AM EDT
At its annual investor conference in San Francisco in May 2014, with oil trading at $102 a barrel, Wells Fargo & Co. boasted that in just two years it had almost doubled its ...
Posted in Uncategorized | Comments Off on More on Bank Lending to Energy Companies
Tuesday, April 12th, 2016
Via the FT on April 08:
Think of banks’ bond departments as a huge used-car lot. Forecourts used to be stuffed with every make of every vintage. If you wanted a 1992 Mustang, or a 2007 Passat, no problem: it’d be right there, with an attractive price on the bonnet.
Now, stocks ...
Posted in Uncategorized | Comments Off on Balance Sheets and Inventory and Liquidity
Tuesday, April 12th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Higher Inflation Lifts Sterling, Yen Stabilizes
There are three highlights to the foreign exchange market today: first, the yen is marginally softer
The second highlight in the foreign exchange market today is the extension of sterling's recovery
The third development in the foreign exchange market is the ...
Posted in Uncategorized | Comments Off on FX
Tuesday, April 12th, 2016
Via WSJ:
By Rachel Louise Ensign
April 12, 2016 5:30 a.m. ET
0 COMMENTS
The $147 billion question for banks: Will energy companies max out their credit lines?
When big banks announce earnings starting on Wednesday, the spotlight will be on massive energy loans that most investors didn’t know much about until recently.
These unfunded loans ...
Posted in Uncategorized | Comments Off on Banks and Energy Loans
Tuesday, April 12th, 2016
Via the WSJ:
By Sarah Krouse and
Emily Glazer
April 12, 2016 6:00 a.m. ET
0 COMMENTS
After decades of transmitting trades by phone line, J.P. Morgan Chase & Co. is close to cutting the cord.
The largest U.S. bank by assets said it is in discussions to move its world-wide trading systems to an Internet-based ...
Posted in Uncategorized | Comments Off on Trading in the Clouds
Tuesday, April 12th, 2016
Via Bloomberg:
Bank of Japan started policy in February to spur credit
Analyst `skeptical' whether sub-zero rates will fuel loans
Japanese loan growth slowed to the weakest pace in three years in March, signaling the central bank’s introduction of negative interest rates has yet to spur credit in the world’s third-largest economy.
Loans excluding ...
Posted in Uncategorized | Comments Off on Negative Rates Fail to Stimulate Lending in Japan
Tuesday, April 12th, 2016
Via Bloomberg:
Prices pushed up by surge in air fares, higher clothing costs
Core inflation accelerates to 1.5%, most since October 2014
U.K. inflation accelerated to a 15-month high in March as an early Easter boosted air fares and clothing prices increased.
Consumer prices rose 0.5 percent from a year earlier, the fastest pace ...
Posted in Uncategorized | Comments Off on Whiff of Inflation in UK
Tuesday, April 12th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 4 Set to Price; SYDAU Added to List
2016-04-12 09:27:45.105 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Japan Bank for International Cooperation (JBIC) A1/A+, to
price 2-part Global deal Tuesday, via managers
Barc/C/HSBC/JPM/Miz
* 5Y, guidance MS +78
* 10Y, guidance MS +83 area
* Bank Nederlandse Gemeenten (BNG) Aaa/AAA, to ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Tuesday, April 12th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h103e04b3,168e5749,168e574a&p1=136122&p2=39528903ff116412572d960f8e871304>
Oil prices and bond yields are both marginally higher and risk sentiment is in good nick, which means that the dollar is languishing at the lower end of this week's FX rankings, just above the now-weakening yen. The real test comes from the equity market as ...
Posted in Uncategorized | Comments Off on Early FX