Archive for August, 2016
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 ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
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 ...
Posted in Uncategorized | Comments Off on Credit Pipeline
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 ...
Posted in Uncategorized | 2 Comments »
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 ...
Posted in Uncategorized | Comments Off on Resetting the Policy Paradigm at the Fed
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 ...
Posted in Uncategorized | Comments Off on “A Regulatory Artifact”
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 ...
Posted in Uncategorized | Comments Off on Russia and Saudi Arabia Talking
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 ...
Posted in Uncategorized | Comments Off on Bank of japan Dominates Equity Market
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-; ...
Posted in Uncategorized | Comments Off on Less Flowing Through Credit Pipeline This Week
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 ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
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 ...
Posted in Uncategorized | Comments Off on FX