Archive for June, 2016
Thursday, June 30th, 2016
Via Bloomberg:
IG CREDIT: Trading Volume Grows Higher Still, Spreads Tighter
2016-06-30 09:49:18.52 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $17.7b vs $16.7b Tuesday, $13.9b last Wednesday. 10-DMA
$13.2b; 10-Wednesday moving avg $17.2b.
* 144a trading added $2.6b of IG volume vs $2.7b on Tuesday,
$2.3b last Wednesday
* Most active ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, June 30th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: HALKBK to Price; TSELEC, POT Added to List
2016-06-30 09:27:22.384 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Turkiye Halk Bankasi AS (HALKBK) Baa3/na/BBB-, to price
$bench 144a-Reg-S 5Y, via managers Bank ABC/C/Emirates
NBD/GS/ HSBC/UniCredit; IPT 5.30% area
LATEST UPDATES
* Potash Corp Of Saskatchewan (POT) A3/BBB+, files automatic
debt shelf; last ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, June 30th, 2016
This WSJ article notes the outsized returns this quarter of the government bonds if many developed country. The article also points out the inverse relationship between price and yields if you happen to be reading about bonds for the first time.
Via WSJ:
By Mike Bird and
Christopher Whittall
June 29, 2016 7:33 p.m. ...
Posted in Uncategorized | Comments Off on If You Know How Many You Own, Then You Don’t own Enough
Thursday, June 30th, 2016
Via Bloomberg:
June 30, 2016 — 5:00 AM EDT
Prospects for another record year in U.S. auto sales are diminishing as car buyers already concerned about job and income growth get something new to worry about: Brexit-spooked financial markets.
“There certainly is a higher probability of having a slightly down year than there ...
Posted in Uncategorized | Comments Off on Headwinds for Auto Companies
Thursday, June 30th, 2016
Via Bloomberg:
Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Brussels on Thursday.
“This has been unfolding in slow motion, but Brexit will accelerate it. It is likely to ...
Posted in Uncategorized | Comments Off on Soros on Brexit
Thursday, June 30th, 2016
Via Reuters:
Markets | Thu Jun 30, 2016 4:45am EDT
Exclusive: China to tolerate weaker yuan, wary of trade partners' reaction - sources
BEIJING/SHANGHAI | By Kevin Yao, Nathaniel Taplin and Lu Jianxin
China's central bank is willing to let the yuan fall to 6.8 per dollar in 2016 to ...
Posted in Uncategorized | Comments Off on China to Tolerate Cheaper Yuan
Wednesday, June 29th, 2016
Via TDSecurities:
US: Consumer Spending Back on Track - For Now
· Personal spending rose at a very respectable 0.4% m/m pace in May, coming on the heels of the upwardly revised 1.1% m/m surge the month before.
· The inflation picture, however, remained relatively benign with core inflation unchanged at 1.6% y/y.
· The ...
Posted in Uncategorized | Comments Off on Consumer Spending
Wednesday, June 29th, 2016
Via Bloomberg:
Forget December. Forget Next Year. Fed Done Hiking Until 2018
Liz McCormick
mccormickliz
Matthew Boesler
boes_
June 28, 2016 — 7:00 PM EDT
Updated on June 29, 2016 — 12:42 AM EDT
Circle Jan. 31, 2018, on the calendar. That’s the soonest the Federal Reserve hikes next.
At least if money market derivatives are to be believed.
Traders, ...
Posted in Uncategorized | Comments Off on Near Term Course of FOMC Policy
Wednesday, June 29th, 2016
Via Barron's:
Why Bond Investors Don’t Have to Fear Higher Rates
Generally, the greater yield earned in a rising-rate environment offsets the fall in bond prices those rates cause.
By
Mark Hulbert
June 29, 2016 6:12 a.m. ET
Are you avoiding bonds because of the near certainty that interest rates will be higher in the future?
Welcome ...
Posted in Uncategorized | Comments Off on Don’t Sweat Higher Rates
Wednesday, June 29th, 2016
Via WSJ:
By Mike Bird
Updated June 28, 2016 8:09 p.m. ET
3 COMMENTS
Britain’s vote to leave the European Union knocked sterling to the lowest in decades and could now erase a distinction that is centuries-old: its status as a reserve currency.
In the two sessions after last Thursday’s Brexit vote, the pound fell ...
Posted in Uncategorized | Comments Off on Could Sterling Lose Reserve Currency Status?