Archive for May, 2016
Thursday, May 26th, 2016
Via Bloomberg:
IG CREDIT: Best Volume in a Month Led by Client Flows
2016-05-26 10:00:15.583 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $18.8b vs $16.8b Tuesday, $16.5b the previous
Wednesday. It was the highest volume trading session since
$18.9b April 21.
* 10-DMA $15b; 10-Wednesday moving avg $18.5b
* 144a trading ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, May 26th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Possible WBA Deal May Push Month Near $200b
2016-05-26 09:39:38.251 GMT
By Robert Elson
(Bloomberg) -- Many thought yesterday was set-up very well
for the anticipated WBA deal and were surprised that it did not
come to center stage. Today it is again possible although with a
long Memorial Day weekend looming, ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, May 26th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10997059,171e6ebf,171e6ec0&p1=136122&p2=3e131b82a3563f1923e746b746786a0f>
A bit of risk aversion overnight and US real yields' advance has stopped, stopping the DXY rally at the same time. TIIPS still do a good job of helping me understand where the dollar's going and it's clear that a rapid rally can't happen while the ...
Posted in Uncategorized | Comments Off on Early FX
Wednesday, May 25th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The advance trade report for April yielded a much smaller than expected goods deficit of $57.5 billion. The trade gap had narrowed sharply in March, as both imports and exports of goods fell sharply. The presumption was that this reflected the timing of Chinese ...
Posted in Uncategorized | 1 Comment »
Wednesday, May 25th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Marks Time
The EU-IMF/Greece deal is more of the same
There are three highlights of the North American session today: US trade data, the BOC decision, and DOE oil inventory data
Brazil’s Congress passed a bill that allows the government to ...
Posted in Uncategorized | Comments Off on FX
Wednesday, May 25th, 2016
Via Bloomberg:
IG CREDIT: Volume Higher as CVX, HSBC 10Y Issues Led Trading
2016-05-25 10:16:52.176 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $16.8b vs $13.2b Monday, $15b the previous Tuesday. 10-
DMA $14.8b; 10-Tuesday moving avg $18b.
* 144a trading added $3.3b of IG volume vs $2.8b Monday, $2b
last ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Wednesday, May 25th, 2016
Via the WSJ:
By Josh Zumbrun
Updated May 24, 2016 5:19 p.m. ET
The year-and-a-half-long spell of low oil prices is making it hard for households to pay the bills in energy-producing regions, an ominous localized trend that comes as the rest of the country returns to pre-recession levels of health.
Delinquencies on auto ...
Posted in Uncategorized | Comments Off on Auto and Mortgage Delinquencies Climb in Troubled Oil Patch
Wednesday, May 25th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 4 Set to Price, WBA Expected As Well
2016-05-25 09:50:20.341 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Province of British Columbia (BRCOL) Aaa/AAA, to price at
least $500m 10Y, via managers BMO/HSBC/NBC/RBC; IPT MS
+Low-60s
* Inter-American Development Bank (IADB) Aaa/AAA, to price
$bench Global 10Y, via BNP/C/TD; guidance MS ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, May 25th, 2016
Via Bloomberg:
May 24, 2016 — 7:00 PM EDT
Updated on May 25, 2016 — 2:15 AM EDT
After topping Euromoney ranking for 9 years, lender slips to 4
Bank’s market share shrinks to 7.9%, from 14.5% a year earlier
A tough week for Deutsche Bank AG just got worse.
The German lender’s share of the ...
Posted in Uncategorized | Comments Off on Tough Times Continue for DeutschBank
Wednesday, May 25th, 2016
Via Reuters and hat tip to Steve Feiss at Government perspectives for pointing this one out:
Jeffrey Gundlach, the chief executive officer of DoubleLine Capital, said on Tuesday that the rally in U.S. stocks, which began on Monday, feels like a short squeeze and characterized U.S. stocks as "dead money."
"The market ...
Posted in Uncategorized | Comments Off on Gundlach Thinks Stock Market is Dead Money