Archive for June, 2016
Wednesday, June 22nd, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Large List Remains as Issuance Dissolves
2016-06-22 09:25:53.889 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* Korea Gas (KORGAS) Aa2/A+, has mandated C/CS/HSBC/JPM/SG/UBS
to arrange investor meetings June 27-30; 144a/Reg-S
transaction may follow
* Molson Coors Brewing (TAP) Baa2/BBB-, asked BofAML/C/UBS to
arrange investor calls June 21-22 in preparation for USD,
Euro and/or Canadian dollar ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, June 22nd, 2016
Via Bloomberg:
June 21, 2016 — 7:00 PM EDT
Updated on June 22, 2016 — 4:31 AM EDT
The sigh of relief breathed by investors across Europe as polls showed a drop in the odds of a U.K. secession is not being shared in Germany’s options market.
While a surge in optimism that Britons ...
Posted in Uncategorized | Comments Off on German Options markets Not So Sanguine About Brexit Outcome
Wednesday, June 22nd, 2016
Via Bloomberg:
Potential pound drop may aid exporters and overseas issuers
Utilities seen as havens along with U.K. mortgage lenders
Corporate-bond investors are ready to go bargain hunting as the looming Brexit referendum stokes market volatility.
Investors are preparing for Britain’s June 23 referendum on European Union membership. The outcome remained too ...
Posted in Uncategorized | Comments Off on Brexit and Corporate Bonds in UK
Wednesday, June 22nd, 2016
This interesting WSJ article argues that to view the income inequality debate through the prism of the top one percent versus the rest is to miss the great divide that has opened between the upper middle class and the rest. The author suggests that the upper middle class is that ...
Posted in Uncategorized | Comments Off on Not Such Hard Times for the Upper Middle Class
Wednesday, June 22nd, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10c600ba,1765bbdf,1765bbe0&p1=136122&p2=1654196b7efccb8f7198920095a7a2ff>
Opinion polls remain too close to call, but the probability of the UK remaining in the EU that is implied by betting odds, is still well above 70%. The view that the uncertainty caused by a ‘Leave' decision is likely to be avoided, is reflected in ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, June 21st, 2016
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: Data on skilled vacancies has been mixed over recent months (+0.6% MOM in April) which is an improvement versus the environment in the 2011-13 period when skilled vacancies fell consistently. The shortage of skilled workers that shows up in many surveys in the ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, June 21st, 2016
Via Ian Lyngen at CRT Capital:
We are apprehensive about the takedown of this afternoon’s 5-year auction given the sector has consistently seen weak receptions and the bearishness this morning in the wake of Yellen’s initial comments. In addition, the WI is suggesting the lowest yielding 5-year auction since February (second ...
Posted in Uncategorized | 2 Comments »
Tuesday, June 21st, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Chair Yellen’s testimony was broadly similar in tone (as you would expect) to her June 6 speech as well as her press conference 6 days ago. Here are the key themes:
Optimistic on the Growth Outlook: At the time of the April FOMC meeting, the ...
Posted in Uncategorized | 1 Comment »
Tuesday, June 21st, 2016
Via Bloomberg:
Treasury Client Survey Shows Modest Drop in Net Longs: JPMorgan
2016-06-21 11:37:13.170 GMT
By Stephen Spratt
(Bloomberg) -- In week ended June 20, all clients survey
shows a small decrease in net longs, now stands close to 4-week
average.
* Active client survey is 5 percentage points longer than its
4-week average
* All clients (June 20 ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Tuesday, June 21st, 2016
Via Marc Chandler at Brown Brothers Harriman:
Greenback Remains Soft
UK referendums are narrowly mixed, sterling makes new high since early-January
Germany Constitutional Court upholds OMT
The dollar is poised to seven-day slide against the yen
Yellen testifies before Senate Banking Committee
Sterling has extended its recovery off the $1.4000 area ...
Posted in Uncategorized | Comments Off on FX