Archive for August, 2016
Tuesday, August 2nd, 2016
Excellent article by Tracy Alloway at Bloomberg on the Brexit induced pension hole in UK.
Via Bloomberg:
Tracy Alloway
tracyalloway
August 2, 2016 — 5:18 AM EDT
The pension plans of companies in the FTSE 350 have been hit by a Brexit-induced double whammy of lower corporate bond yields and weaker growth that threatens to ...
Posted in Uncategorized | Comments Off on UK Pension Agonies
Tuesday, August 2nd, 2016
Via Bloomberg:
Currency gains after Prime Minister Abe announces fiscal plan
Measures show ‘policy makers aren’t beating expectations’: RBS
The Japanese yen appreciated to the strongest level in three weeks against the dollar as extra spending announced by the government amounted to only a small part of a headline number flagged ...
Posted in Uncategorized | Comments Off on Underwhelmed
Tuesday, August 2nd, 2016
Via Bloomberg:
IG CREDIT: Volume Falls; Short Maturities Led Trading
2016-08-02 09:51:14.903 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13b vs $13.9b Friday, $14.7b the previous Monday. 10-
DMA $15.7b; 10-Monday moving avg $13.1b.
* 144a trading added $1.4b of IG volume vs $2.1b on Friday,
$1.7b last Monday
* 3 ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, August 1st, 2016
I am a little long some Treasuries and short some S and P so lets hope they default sooner rather than later!
Via Bloomberg:
Wuhan Guoyu sees uncertainty in repaying bonds due this week
The industry’s sluggishness weakens its financial strength
A Chinese shipbuilder said it may not be able to repay ...
Posted in Uncategorized | Comments Off on Defaults in China
Monday, August 1st, 2016
Bloomberg reports that analysts at Nomura expect that a search for yield by japanese investors will drive US Long Bond yields to zero in two years. So this is your last chance to climb on board that train before it rumbles out of the station.
Via Bloomberg:
Highest Treasury Yield to Evaporate ...
Posted in Uncategorized | Comments Off on Long Bond at Zero Yield?
Monday, August 1st, 2016
Via Bloomberg:
Liz McCormick
mccormickliz
July 31, 2016 — 7:00 PM EDT
The U.S. government’s attempt to alleviate the short supply of T-bills is about to get a little harder.
After years in the making, a post-crisis rule to prevent a run on the money-market industry will finally take effect this October. It will force ...
Posted in Uncategorized | Comments Off on T Bill Dearth
Monday, August 1st, 2016
Via the WSJ:
By James Mackintosh
Updated Aug. 1, 2016 5:08 p.m. ET
9 COMMENTS
The money markets are screaming about a global shortage of dollars. Financial stress indicators are flashing yellow. The Bank of Japan on Friday took special measures to help its banks access greenbacks, and interbank borrowing rates for dollars are ...
Posted in Uncategorized | Comments Off on Financial Repression
Monday, August 1st, 2016
Via Bloomberg:
Sid Verma
@_sidverma
August 1, 2016 — 6:05 AM EDT
You can now add the rates strategy team at Deutsche Bank AG to the growing list of Wall Street analysts who reckon the U.S. economy is probably ensnared in secular stagnation.
In a research note published on Friday, Deutsche Bank strategists, led by ...
Posted in Uncategorized | Comments Off on Secular Stagnation Lives
Monday, August 1st, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The Reserve of Bank of Australia meets
Investors are more confident of the outcome of the Bank of England's meeting than the RBA meeting
Japan's Prime Minister Abe seemingly hurriedly confirmed some details of his fiscal plan.
The US ...
Posted in Uncategorized | Comments Off on FX
Monday, August 1st, 2016
Via WSJ:
By Katy Burne
Updated July 31, 2016 4:41 p.m. ET
7 COMMENTS
J.P. Morgan Chase & Co.’s retreat from a mundane but crucial settlement role in the $13 trillion U.S. Treasury market poses a fresh challenge for regulators seeking to bolster the market’s capacity to withstand shocks.
The New York bank’s decision, announced ...
Posted in Uncategorized | Comments Off on Repo Market Jitters