Archive for May, 2016
Wednesday, May 11th, 2016
Via Kit Juckes at SocGen;
<http://www.sgmarkets.com/r/?id=h107c8133,16f142ce,16f142cf&p1=136122&p2=fe39f6c94650e7e8bbb7ba78c19e77c8>
Let us sit upon the ground and tell sad tales of the death of vigilantes. West Ham are moving on to bigger premises. Presumbaly, in search of more space to blow more bubbles. And you can be sure there will be no room for vigilantes - ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, May 10th, 2016
Via WSJ:
By Sam Goldfarb
Updated May 10, 2016 5:14 p.m. ET
0 COMMENTS
A red-hot market for higher-quality corporate debt is enticing Dell Inc. to begin marketing the investment-grade-bond portion of its debt package backing its acquisition of EMC Corp. , a person familiar with the matter said.
The Round Rock, Texas, personal-computer maker ...
Posted in Uncategorized | Comments Off on Big Corporate Deal Planned by Dell
Monday, May 9th, 2016
Via the WSJ:
By
Jason Douglas
Updated May 9, 2016 7:01 a.m. ET
A top Federal Reserve official said Monday that the U.S. central bank should consider allowing inflation to temporarily rise above its 2% annual target.
Federal Reserve Bank of Chicago President Charles Evans said in remarks in London that aiming for ...
Posted in Uncategorized | Comments Off on A Whiff of Inflation
Monday, May 9th, 2016
Via Bloomberg:
Concern bubbles up in answers to survey on market evolution
Respondents call for centralized clearing in some letters
For traders of U.S. Treasuries, the easy part was agreeing some corners of the market need to be more centralized. Now comes the real challenge: figuring out how.
The basic structure of ...
Posted in Uncategorized | Comments Off on “The primacy of the dealers has been eroded.”
Monday, May 9th, 2016
Via Marc Chandler at brown Brothers Harriman:
Drivers for the Week Ahead
The resilience of the US dollar and the firmness of US yields after the monthly report showed the weakest job growth in seven months may be significant
The Eurogroup of finance minister are to meet Monday to discuss Greece
...
Posted in Uncategorized | Comments Off on More FX
Monday, May 9th, 2016
Via Bloomberg:
IG CREDIT:Lowest Volume Friday Since Dec.; Expect Heavy Issuance
2016-05-09 09:56:13.151 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $11.7b Friday vs $15.2b Thursday, $15.5b the previous
Friday. It was the lowest volume Friday session since $8.6b
December 18.
* 10-DMA $15.9b; 10-Friday moving avg $14.4b.
* 144a trading added ...
Posted in Uncategorized | Comments Off on Corporate Bond Stuff
Monday, May 9th, 2016
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 10:00am: Labor Market Conditions Index, Apr (prior -2.1)
* TBA: Mortgage Delinquencies, 1Q (prior 4.77%)
* TBA: MBA Mortgage Foreclosures, 1Q (prior 1.77%)
* Supply
* 11:30am: U.S. to sell $31b 3M, $26b 6M bills
* Central Banks
* 1:00pm: Fed’s Kashkari speaks in Minneapolis
Posted in Uncategorized | Comments Off on What to Watch Today
Monday, May 9th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 4 Set to Price; Week May See $50b Issuance
2016-05-09 09:26:33.249 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Deutsche Bank (DB) Baa1/BBB+, to price $bench 3-part deal,
via DB-solo
* 3Y FRN, IPT equiv
* 3Y, IPT 212.5 area
* 5Y< IPT +237.5 area
* Mubadala Devlopment Corp (MUBAUH) Aa2/AA, to ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, May 9th, 2016
Via Kit Juckes at Socgen:
<http://www.sgmarkets.com/r/?id=h1076355b,16e7674a,16e7674b&p1=136122&p2=60ad90b4bcef7abc71672ddbdbd6c99a>
Friday's US payroll data were a little soft but well within any reasonable person's confidence interval. The long-term average monthly increase dipped from 206k to 205k. The unemployment rate stayed at 5%, but wage growth edged up to 2.5% y/y. The data confirm the steady growth ...
Posted in Uncategorized | 1 Comment »
Monday, May 9th, 2016
Via the FT:
55 minutes ago
by: Hudson Lockett
Deteriorating conditions in China drove up the headline gauge for liquidity stress in Asia produced by Moody’s Investors Services despite stress levels in South and Southeast Asia retreating from record highs in April.
The ratings agency’s Asian Liquidity Stress Index, a measurement of the proportion ...
Posted in Uncategorized | Comments Off on Stress In Asia