Archive for August, 2016

Some Corporate Bond Stuff

Tuesday, August 16th, 2016

Via Bloomberg: IG CREDIT: Spreads Tighten Further, Hit New Lows for 2016 2016-08-16 10:02:53.520 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $11.5b vs $10.3b Friday, $12.4b the previous Monday. 10-DMA $14.5b; 10-Monday moving avg $13b. * 144a trading added $1.3b of IG volume vs $1.7b Friday, $1.5b last Monday * The ...

Credit Pipeline

Tuesday, August 16th, 2016

Via Bloomberg: IG CREDIT PIPELINE: 3 Set to Price; ETFC, CBT Added to List 2016-08-16 09:41:40.112 GMT By Robert Elson (Bloomberg) -- Expected to price today: * Nederlandse Waterschapsbank (NEDWBK) Aaa/AAA, to price at least $250m 144a/Reg-S re-opened 1.50% April 2018, via managers BNP/C/RBS; guidance MS +10 area * Societe Generale (SOCGEN) Baa3/BBB, to price $bench 144a/Reg-S subordinated Tier ...

Aging Baby Boomer Alert

Monday, August 15th, 2016

My wife and I were on our way to Charlottesville Virginia a few weeks ago to visit our daughter who resides there. (As an aside, she is a professional ballet dancer and founded the Charlottesville Ballet in 2007. If you find any value in my occasional musings and in the ...

Resetting the Policy Paradigm at the Fed

Monday, August 15th, 2016

Via Bloomberg: Williams Calls for Rethink of Fed Orthodoxy in New Economic Era Jeanna Smialek jeannasmialek August 15, 2016 — 1:00 PM EDT   Federal Reserve Bank of San Francisco President John Williams called for monetary and fiscal policy makers to rethink the way they operate, saying America is getting a taste of a new economic ...

“A Regulatory Artifact”

Monday, August 15th, 2016

Via Bloomberg: Libor Surge Is Part of Regulatory ‘Head-On Collision’: Wrightson 2016-08-15 15:06:21.216 GMT By Alexandra Harris (Bloomberg) -- Recent Libor spike isn’t about a “shortage of dollars per se,” but a lack of a “particular kind of dollar-denominated asset,” Wrightson ICAP economist Lou Crandall said in note. * 100bp spread between 12-mo. Libor and 12-mo. bills isn’t ...

Russia and Saudi Arabia Talking

Monday, August 15th, 2016

Via Reuters: Russia, the world's top oil producer, is consulting with Saudi Arabia and other producers to achieve oil market stability, Energy Minister Alexander Novak said, adding that the door is still open for more discussions on freezing output levels if needed. In an interview published on Monday Novak also told Saudi-owned ...

Bank of japan Dominates Equity Market

Monday, August 15th, 2016

Via Bloomberg: The Bank of Japan's Unstoppable Rise to Shareholder No. 1 Anna Kitanaka onlyanna100 Yuji Nakamura ynakamura56 Toshiro Hasegawa August 14, 2016 — 11:00 AM EDT Updated on August 15, 2016 — 4:08 AM EDT BOJ set to become top owner of 55 firms in the Nikkei 225 Japan’s central bank boosted its ETF buying program last month l The Bank ...

Less Flowing Through Credit Pipeline This Week

Monday, August 15th, 2016

Via Bloomberg: IG CREDIT PIPELINE: Issuance May Slow From Recent Torrid Pace 2016-08-15 09:30:37.65 GMT By Robert Elson (Bloomberg) -- Dealers expect IG issuance to slow this week from the pace that has brought August issuance to near $100b in just 2 weeks. Expect closer to $20b vs last week’s $45b. LATEST UPDATES * Israel Electric (ISRELE) Baa2/BBB-; ...

Some Corporate Bond Stuff

Monday, August 15th, 2016

Via Bloomberg: IG CREDIT: Volume Led by Client Flows in AT&T Long Bonds 2016-08-15 09:38:48.853 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $10.3b Friday vs $14.6b Thursday, $12.6b last Friday. 10-DMA $14.6b; 10-Friday moving avg $11b. * 144a trading added $1.7b of IG volume Friday vs $2.1b Thursday, $1.6b last ...

FX

Monday, August 15th, 2016

Via Marc Chandler at Brown Brothers Harriman: Drivers for the Week Ahead The week began with the first estimate of Japan's Q2 GDP Sterling is the weakest of the majors this year; CPI, retail sales, labor market data will be reported Soft employment data ahead and RBA minutes warn that the ...