Archive for August, 2016
Tuesday, August 30th, 2016
Via Bloomberg:
IG CREDIT: Volume Higher on Client, Affiliate Trades
2016-08-30 09:50:17.758 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $14.5b Monday vs $9.4b Friday, $10.3b the previous
Monday. 10-DMA $13.6b.
* 144a trading added $1.4b of IG volume vs $1.1b Friday, $1.3b
last Monday
* The most active issues:
* MSFT 2.40% ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Tuesday, August 30th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Greenback Remains Firm, Awaiting Fresh Cues
The dollar has held on to most of its recent gains
Japanese labor market remains tight and consumption is improving
EC rules against Apple
The September Fed funds futures imply a 36% chance of a hike next month ...
Posted in Uncategorized | Comments Off on FX
Tuesday, August 30th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Sweden, Woodside Added to the List
2016-08-30 09:32:32.851 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* Kingdom of Sweden (SWED) Aaa/AAA, mandates Barc/C/HSBC for
$bench 144a/Reg-S 5Y
* Woodside Finance (WPLAU) Baa1/BBB+, to hold investor
meetings Aug. 31 - Sept. 7, via C/CS/JPM/UBS; USD deal may
follow
* Kingdom of Saudi Arabia (SAUDI), may raise ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Tuesday, August 30th, 2016
This story reminds me in a small way of the aftermath of the subprime crisis. Suddenly, when healthy gains turned to career threatening losses, some portfolio managers professed that they were rubes who had just fallen off a turnip truck and who lacked understanding and comprehension of complicated derivatives. They ...
Posted in Uncategorized | Comments Off on Heads I Win, Tails You Lose
Tuesday, August 30th, 2016
Via Kit Juckes at SocGen;
<http://www.sgmarkets.com/r/?id=h11388dbd,18207497,18207498&p1=136122&p2=75190d5a9772a588718864d3bb3b4ce6>
August seems set to end without 10year Treasury yields breaking from their suffocating 15bp range. They're a couple of basis point lower this morning, although that has stopped the post-Jackson Hole mood persisting with the yen a little softer, the dollar a little stronger pretty much ...
Posted in Uncategorized | Comments Off on Early FX
Tuesday, August 30th, 2016
Via Bloomberg:
August 29, 2016 — 3:00 PM EDT
Updated on August 29, 2016 — 11:12 PM EDT
Chinese companies’ borrowing costs have never been so low. That’s little consolation to firms cutting debt rather than investing amid a slowing economy.
The amount of local yuan bond sales minus maturities fell 39 percent in ...
Posted in Uncategorized | Comments Off on Deleveraging China
Tuesday, August 30th, 2016
Via WSJ:
Julie Jargon
Aug. 29, 2016 1:13 p.m. ET
82 COMMENTS
The U.S. is on track this year to post the longest stretch of falling food prices in more than 50 years, a streak that is cheering shoppers at the checkout line but putting a financial strain on farmers and grocery stores.
The trend ...
Posted in Uncategorized | Comments Off on Food Price Deflation Equals Pain in Farmbelt
Monday, August 29th, 2016
Via Bloomberg:
San Francisco Fed researcher finds 2026 rate around 1 percent
Result implies ‘very gradual rise’ in rates going forward
Some at the U.S. central bank may still be too optimistic about how high interest rates can rise in the longer run, based on new Federal Reserve Bank of San ...
Posted in Uncategorized | Comments Off on San Fran Fed on Path of Fed Tightening
Monday, August 29th, 2016
Via Bloomberg:
North Korea officials were purged over graft, project, it says
Follows defection of high-level diplomat to South Korea
Two senior North Korean officials were executed with an anti-aircraft gun in early August on the orders of Kim Jong Un, South Korea’s JoongAng Ilbo newspaper reported, citing people it did ...
Posted in Uncategorized | Comments Off on Scary if True
Monday, August 29th, 2016
Via Bloomberg:
Lower-Paying Industries Are Seeing the Fastest Wage-Growth in the U.S.
Lower-paying industries see high pay raises.
Luke Kawa
LJKawa
August 29, 2016 — 8:33 AM EDT
"Joe six-pack gets a raise," proclaim Bank of America Merrill Lynch economists Emanuella Enenajor and Lisa Berlin, commenting on the biggest source of upward pressure on U.S. wages ...
Posted in Uncategorized | 1 Comment »