Archive for June, 2016
Sunday, June 12th, 2016
Via the BBC:
Eric Clapton 'struggles to play guitar'
12 June 2016
Rock star Eric Clapton has said damage to his nervous system is making it difficult to play the guitar.
The acclaimed musician told Classic Rock magazine he "can still play" but added it was "hard work".
"I've had quite a lot of ...
Posted in Uncategorized | Comments Off on Aging Baby Boomer Alert
Sunday, June 12th, 2016
Via the WSJ:
By Harriet Torry
Updated June 12, 2016 1:10 p.m. ET
While Federal Reserve officials debate when to next raise short-term interest rates, they are also wrestling with the question of how high to lift them in coming years.
Signs point toward the new normal being much lower than in the past, ...
Posted in Uncategorized | 1 Comment »
Sunday, June 12th, 2016
This WSJ story lays out all the reasons why rates can move lower. Inflation is low and there is no credible case for it to surge. Global economies are less than festive. Central bank quantitative ease has taken bonds off the market and has forced investors into alternatives such as ...
Posted in Uncategorized | Comments Off on Conventional Wisdom Holds That Rates Can Grind Lower
Saturday, June 11th, 2016
Via Bloomberg:
Yield spreads to Spanish, Italian debt widen on haven demand
Gains to come from the periphery: Standard Life Investments
Investors are showing little appetite for repeating the rebellion against record-low government bond yields in Europe that peaked this time last year.
As faith in central bankers’ ability to boost economic ...
Posted in Uncategorized | Comments Off on Safe Haven Demand for Bunds
Saturday, June 11th, 2016
Via the WSJ:
By Mark Magnier
Sexta-Feira, 10 de Junho de 2016 22:45 EDT
BEIJING—Soaring corporate debt is a serious and worsening problem in China that needs to be tackled quickly if Beijing wants to avoid potential systemic risk to itself and the global economy, a senior International Monetary Fund official warned.
While China’s ...
Posted in Uncategorized | 1 Comment »
Friday, June 10th, 2016
Via the NYTimes:
LONDON — One of the oldest forms of punctuation may be dying
The period — the full-stop signal we all learn as children, whose use stretches back at least to the Middle Ages — is gradually being felled in the barrage of instant messaging that has become synonymous with ...
Posted in Uncategorized | 1 Comment »
Friday, June 10th, 2016
Via Bloomberg:
IG CREDIT: Corporate Dealer Positions Rose, Led by 5Y-10Y Area
2016-06-10 10:29:20.158 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in corporate bonds rose
$3.5b to $19.5b as of June 1, according to Fed NY release.
* $6.5b low Oct. 2015; high $45.9b March 2014.
* Investment grade positions:
* Very short issues rose $1.2b to ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, June 10th, 2016
Via Bloomberg:
IG CREDIT: Volume Lower, Spreads Steady
2016-06-10 09:57:42.473 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $15.8b vs $18.3b Wednesday, $18.6b the previous
Thursday. 10-DMA $15.1b; 10-Thursday moving avg $17.2b.
* 144a trading added $3.2b of IG volume vs $3.5b Wednesday,
$3.7b last Thursday
* The most active issues:
* ABIBB ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Friday, June 10th, 2016
Via Marc Chandler at brown Brothers Harriman:
Dollar Remains Firm, Yen May Be Drawing Support from Brexit Fears
In an otherwise light North American economic calendar, Canada reports May jobs data
In Europe, the main economic data were French and Italian industrial output figures for April
A combination of Brexit ...
Posted in Uncategorized | Comments Off on FX
Friday, June 10th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Expect More Heavy Issuance Next Week
2016-06-10 09:36:25.149 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* Ooredoo (QTELQD) A2/A-, has mandated
ANZ/BAML/Citi/DBS/HSBC/Miz/MUFG/QNB to arrange investor
meetings to begin June 10; USD 144a/Reg-S transaction may
follow
* 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 Pipeline