Archive for June, 2016
Monday, June 20th, 2016
Via Marc Chandler at Brown Brothers Harriman:
The Week Ahead is All about Europe
German Constitutional Court decision on OMT
EMU flash PMI
UK Referendum
TLTRO II
Market participants reacted enthusiastically to confirmation of that what suspected at the end of last week. The murder of UK MP Cox served ...
Posted in Uncategorized | Comments Off on FX
Monday, June 20th, 2016
Via Bloomberg:
IG CREDIT: Trading Lowest in Weeks, Issuance Lowest Since Feb.
2016-06-20 09:36:37.710 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $9.7b Friday, the lowest since Memorial Day, vs $14.9b
Thursday, $10.7b the previous Friday. 10-DMA $13.9b; 10-Friday
moving avg $11.7b.
* 144a trading added $1.4b of IG volume Friday ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, June 20th, 2016
Via Tracy Alloway at Bloomberg:
Jun 20, 2016
Negative Rates Are the Tools of Our Elderly Oppressors
A "pattern of intergenerational conflict" sparked by ultra-low returns, according to Citigroup.
Tracy Alloway
June 20, 2016 — 5:17 AM EDT
Here is a diagram of things disliked by the young and the old, that may or may not ...
Posted in Uncategorized | Comments Off on Regarding Negative Interest Rate Carnage
Monday, June 20th, 2016
Via Bloomberg:
Previous polls showing ‘Leave’ ahead sparked market turmoil
Odds tracker shows chances for Brexit dropping to about 30%
The pound climbed the most since 2008, spurring a global rally in higher-yielding currencies, as polls signaled the campaign for the U.K to stay in the European Union was gaining momentum.
Sterling’s ...
Posted in Uncategorized | Comments Off on Brexit Compendium
Monday, June 20th, 2016
This WSJ article that demand for gasoline will slump in coming decades as electric cars win the hearts and minds and wallets of consumers. This article answers one question which has always troubled me. If everyone plugs in then how do utilities handle that surge in demand. According to the ...
Posted in Uncategorized | Comments Off on Electric Car Surge
Monday, June 20th, 2016
Via Blooomberg:
IG CREDIT PIPELINE: More Issuers Hold Investor Calls This Week
2016-06-20 09:24:31.685 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* 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 transactions to perhaps follow;
expects to issue up to $6.8b in new debt to help ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, June 20th, 2016
Via Kit Juckes at SocGen;
<http://www.sgmarkets.com/r/?id=h10c1e845,175f18e3,175f18e4&p1=136122&p2=821130c2a68a3dc296a8948f74eff81d>
Asian markets are ‘risk-on' as the market bets that UK will remain in the EU. 10yr Bond yield are a handful of basis points higher, equities are up across Asia and oil and commodity prices are also a bit firmer. The pound leads the FX charge, ...
Posted in Uncategorized | Comments Off on Early FX
Monday, June 20th, 2016
I was not an active market participant on Friday but instead proudly wore my grandfather hat. If you are anywhere near Long Island I highly recommend the Aviation Museum which chronicles the history of man's attempt to fly.Much of that history took place here. Lindbergh took off from here on ...
Posted in Uncategorized | Comments Off on Markets Euphoric
Sunday, June 19th, 2016
Via the WSJ:
Economy The Outlook
Economic Gauges Raise Specter of Recession
Closely watched indicators sour, as economists scramble to assess risk
Slipping auto sales are considered a sign of an economic downturn. Here, a car dealer in
By Ben Leubsdorf
Updated June 19, 2016 5:28 p.m. ET
15 COMMENTS
Gut-wrenching gyrations in financial markets early in the ...
Posted in Uncategorized | Comments Off on Uttering the “R” Word
Sunday, June 19th, 2016
Via WSJ:
Rising Wages Will Pressure Corporate Profits
Companies like Netflix, Nike, and Deere could outperform more labor-intensive companies like FedEx and VF Corp. as wages start to climb.
By
Ben Levisohn
June 18, 2016
Good things come to those who wait—and U.S. workers have waited a long time to get a raise. Their increased pay ...
Posted in Uncategorized | Comments Off on Squeezing Margins