Archive for July, 2016
Thursday, July 7th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: SUMIBK 3-Part Deal Starts the Issuance Day
2016-07-07 09:37:20.566 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Sumitomo Mitsui Financial Group (SUMIBK) A1/A-, to proce 3-
part deal, via managers C/GS/JPM/SMBC
* 5Y, IPT +130 area
* 5Y FRN, equiv
* 10Y, IPT +150 area
* Care Capital (CARCAP) Baa3/BBB-, to price ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, July 7th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10e2c712,1792b8f4,1792b8f5&p1=136122&p2=aa71c9ad2350a58dd1c76efe6a953ce7>
A really simple regression of the US ISM data suggests that June's growth rate was close to 3%, and Q2 overall was at around 2.3%. This is just another piece of evidence placed in front of a sceptical market but even so, it paints a picture ...
Posted in Uncategorized | Comments Off on More FX
Thursday, July 7th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Europe Quiet, Asia Steals the Spotlight
The news stream out of Europe has been fairly light
China’s foreign reserves rose slightly in June to $3.21 trln
Kiwi is leading the pack today on some RBNZ comments
The Aussie recovered from early losses after S&P ...
Posted in Uncategorized | Comments Off on FX
Wednesday, July 6th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The main takeaway from the June FOMC meeting minutes is that the heightened uncertainty introduced regarding the labor market situation and the economy generally by the May employment report along with the prospect of the Brexit vote in a weeks’ time justified taking a ...
Posted in Uncategorized | Comments Off on FOMC Minutes
Wednesday, July 6th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Well, well, well. Remember a month ago? Payrolls stunned everyone to the down side at 8:30 on the morning of June 3. People may have been inclined to let the shock eventually wear off, but when the ISM non-manufacturing gauge came in much weaker ...
Posted in Uncategorized | Comments Off on ISM Non Maufacturing
Wednesday, July 6th, 2016
Via Bloomberg:
U.S. corporate pensions capitulate to lower interest rates
Ten-year Treasury yields to fall to 1.25% this quarter: BofA
Bank of America Corp. sees the $3 trillion U.S. corporate pension industry throwing its interest-rate assumptions out the window.
And that means the retirement plans will probably throw more money into Treasuries.
Even ...
Posted in Uncategorized | 1 Comment »
Wednesday, July 6th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10e08ca4,178f0f18,178f0f19&p1=136122&p2=3d87517293f0451ad8f033f6588cc6e0>
There hasn't been very much in the way of economic news and data overnight, with markets dominated by the fall-out from the UK's economic lemmingism. We have a quartet of 'big fears' in the form of Brexit, Italian banks, Chjinese capital flight, and the danger that ...
Posted in Uncategorized | Comments Off on More FX
Wednesday, July 6th, 2016
Via Bloomberg:
=============================================================================
IG CREDIT PIPELINE: NWB Bank Among 3 to Price; Woori Added
2016-07-06 09:35:46.159 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Nederlandse Waterschapsbank (NEDWBK) Aaa/AAA, to price
$bench 144a/Reg-S 2Y, via managers HSBC/Nom/RBC/Sco;
guidance MS +17 area
* World Bank (IBRD) Aaa/AAA, to price $bench global 3Y, via
BNP/C/HSBC/TD; guidance MS +9 area
* International ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, July 6th, 2016
Via Bloomberg:
IG CREDIT: Volume Higher; Clients Sell Most Active Issues
2016-07-06 10:05:37.567 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $14.5b vs $6.7b Friday, $16.7b the previous Tuesday.
10-DMA $13.7b; 10-Tuesday moving avg $16.1b.
* 144a trading added $1.9b of IG volume vs $932m on Friday,
$2.7b last Tuesday
* Most ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Wednesday, July 6th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Yen and Dollar Firm, Risk Off Continues
The risk off sentiment continues
The UK political backdrop remains unclear
Sweden’s Riksbank left policy steady, as expected
EM is back under pressure
The dollar is firmer against the majors as risk off sentiment intensifies. The yen is ...
Posted in Uncategorized | Comments Off on FX