Archive for May, 2016
Wednesday, May 18th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
Bloomberg just posted a story on payments by the Saudi government at least partially with IOUs, something that also was done in the 1990s. While this has garnered headlines, it may reflect the weakness in oil prices – and revenues – earlier this year, ...
Posted in Uncategorized | Comments Off on Saudi Arabia Says “Check is in the Mail”
Wednesday, May 18th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Gains on More Supportive Rates Outlook
The US dollar is rising against all the major currencies today as rates markets are adjusting in its favor
During the North American session, the FOMC minutes will be the highlight
Japan reported stronger than expected ...
Posted in Uncategorized | Comments Off on FX
Wednesday, May 18th, 2016
Via Bloomberg:
IG CREDIT: Secondary Trading Remains in Back Seat vs Issuance
2016-05-18 10:04:41.124 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $15b vs $11.7b Tuesday. 144a trading added $2b of IG
volume vs $1.5b.
* The most active issues:
* SPGI 4.40% 2026; just 2 large client tickets accounted
for all ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Wednesday, May 18th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 4 Set to Price; Domestic Names Expected
2016-05-18 09:43:10.966 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* HSBC Holdings (HSBC) A1/A, to price $bench 4-part deal, via
manager HSBC
* 5Y FRN; IPT equiv
* 5Y, IPT +180 area
* 7Y, IPT +215 area
* 10Y, IPT +230 area
* KfW (KFW) Aaa/AAA, ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, May 18th, 2016
It is difficult for me to believe that I am publishing this and difficult to believe that Bloomberg had someone write the story. The strangest little information nugget in the story is that the University of Utah has a lawyer who specializes in restrooms and transgender issues.
Via Bloomberg:
Single-user unisex ...
Posted in Uncategorized | Comments Off on Gender Controversy and Bathroom Design
Wednesday, May 18th, 2016
Via WSJ:
By Richard Rubin
May 18, 2016 12:00 a.m. ET
1 COMMENTS
If Democrats retake the Senate this fall, tax policy will fall to Sen. Ron Wyden of Oregon, who is beginning to elaborate on his priorities and plans.
Mr. Wyden recently released a plan to overhaul the rules companies use to calculate their ...
Posted in Uncategorized | Comments Off on Derivative Tax
Wednesday, May 18th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h108b3c7e,1707b733,1707b734&p1=136122&p2=6f057f5c10c471af173348f4743dbe23>
May has, so far, been a good month for the dollar, which is up 10% this month against the South African rand, 4% against the Australian dollar and top of the major currency league. This despite the fact that oil prices too, are higher. The negative ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, May 17th, 2016
Via FT:
an hour ago
by: Peter Wells
Japan’s economy grew more than expected during the first three months of this year, a development that may dull the prospect of near-term monetary policy easing.
The Japanese economy grew by 0.4 per cent seasonally adjusted quarter-on-quarter from a revised 0.4 per cent contraction (previously -0.3 ...
Posted in Uncategorized | Comments Off on Japan GDP
Tuesday, May 17th, 2016
I also urge you to read this research note from Stephen Stanley of Amherst Pierpont Securities which I posted earlier today.
Via FT:
2 hours ago
by: Sam Fleming in Washington
Financial markets are being overly pessimistic about the US outlook and may underestimate the chances of an interest-rate increase as soon as June, ...
Posted in Uncategorized | Comments Off on Lockhart Says Market Underestimating Chances of June Rate Hike
Tuesday, May 17th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: The April Property Report is likely to show stability, with 40 of 70 cities already reporting price increases in March.
JAPAN: The Bberg consensus expects Japan 1Q Real GDP growth at +0.3% (SAAR) versus -1.1% annualized in 4Q, although monthly data suggest the risk ...
Posted in Uncategorized | 1 Comment »