Archive for June, 2016
Tuesday, June 14th, 2016
Fear has once again gripped markets with peripheral spreads melting down. As I noted at this hour yesterday I follow Italy and Spain in the 10 year sector versus US to gauge sentiment. By that metric markets are less than festive this morning. Last Thursday morning I had clocked 10 ...
Posted in Uncategorized | 5 Comments »
Monday, June 13th, 2016
Via Bloomberg:
BN 06/13 12:37 *MSFT SEES DEAL ADDING ADJ. EPS IN FY19/LESS THAN 2 YR POST DEAL
BN 06/13 12:37 *MSFT SEES BUY HAVING MINIMAL DILUTION ~1% FOR REST OF FY2017
BFW 06/13 12:36 *MICROSOFT TO FINANCE DEAL WITH ISSUE OF NEW DEBT
BN 06/13 12:36 *MICROSOFT SEES BUY HAVING MINIMAL DILUTION ABOUT ...
Posted in Uncategorized | Comments Off on MSFT to Finance Deal With Debt
Monday, June 13th, 2016
Via Bloomberg:
BN 06/13 12:31 *MICROSOFT TO BUY LINKEDIN FOR $196/SHR IN AN ALL-CASH DEAL
BN 06/13 12:31 *MICROSOFT TO BUY LINKEDIN IN TRANSACTION VALUED AT $26.2B
BN 06/13 12:31 *MICROSOFT TO BUY LINKEDIN IN DEAL VALUED AT $26.2B
BFW 06/13 12:31 *MICROSOFT TO BUY LINKEDIN
BN 06/13 12:31 *MICROSOFT TO BUY LINKEDIN FOR $196/SHR
BN ...
Posted in Uncategorized | Comments Off on MSFT to Buy Linked In
Monday, June 13th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The risk that the UK votes to leave the EU next week is the dominant force in the capital markets
The May employment data pushed expectations away from this week's meeting
To what extent does the Fed ...
Posted in Uncategorized | Comments Off on FX
Monday, June 13th, 2016
Via Bloomberg:
IG CREDIT: Trading Volume Lower as Spreads Leak Wider
2016-06-13 09:42:42.567 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $10.7b Friday vs $15.8b Thursday, $12.1b the previous
Friday. 10-DMA $14.5b; 10-Friday moving avg $12.1b.
* 144a trading added $1.7b of IG volume Friday vs $3.2b
Thursday, $2.3b last Friday
* ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, June 13th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: KOREAT Added to List, TAQA May Be Soon
2016-06-13 09:23:03.283 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* KT Corp (KOREAT) Baa1/A-, schedules investor meetings June
16-24, via BNP/BAML/C/Nom, for possible USD 144a/Reg-S
* Abu Dhabi National Energy (TAQAUH) A3/A, investor meetings
via BNP/C/FGB/HSBC/NBAD/SG end today; $bench 144a/Reg-S 5Y
and/or 10Y issues may follow ...
Posted in Uncategorized | Comments Off on Credit Market Pipeline
Monday, June 13th, 2016
Via the NYTimes:
Which Labor Market Data Should You Believe?
Binyamin Appelbaum @BCAppelbaum JUNE 13, 2016
When the unemployment rate falls below 5 percent, it usually means things are going pretty well. It was 4.7 percent in May, a level last seen in November 2007.
A different measure of the ...
Posted in Uncategorized | Comments Off on Which labor Market Indicator is Correct?
Monday, June 13th, 2016
Via Bloomberg:
June 12, 2016 — 8:09 PM EDT
Updated on June 13, 2016 — 1:47 AM EDT
Morgan Stanley says 2016’s bond market rally has further to run. Goldman Sachs Group Inc. says benchmark Treasury yields may be poised to jump.
The biggest stories of the day, every day.
The two fixed-income powerhouses are ...
Posted in Uncategorized | Comments Off on Morgan Stanley and Goldman Sachs Clash on Rates
Monday, June 13th, 2016
I have just marked prices as the new day dawns and European peripherals remain under pressure. I specifically follow 10 year Spain and 10 year Italy versus US. ten year Spain is opening 15 rich to the US. At this hour on Friday the spread was 24 and on Thursday ...
Posted in Uncategorized | Comments Off on Peripheral Pressure
Monday, June 13th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10b3f115,17496f3b,17496f3c&p1=136122&p2=b1ee35b127bb3b47b68b31093b511a00>
The release of an opinion poll on Friday showing the widest margin so far in favour of the UK leaving the EU resulted in the pound getting a drubbing ahead of the weekend, and while the most recent poll I've seen shows that gap in favour ...
Posted in Uncategorized | Comments Off on Early FX