Archive for August, 2016
Friday, August 19th, 2016
Via Bloomberg:
IG CREDIT: Dealer Positions in Long IG Corporates Rose $1b
2016-08-19 10:22:04.366 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in all corporate bonds rose
$1.5b to $19.2b in the week through August 10, according to Fed
NY release.
* $6.5b low Oct. 2015; high $45.9b March 2014
* Investment grade positions:
* Very short issues fell ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, August 19th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Long List Awaits September Issuance
2016-08-19 09:26:33.216 GMT
By Robert Elson
(Bloomberg) -- LATEST UPDATES
* Industrial Bank of Korea (INDKOR) Aa2/AA-, mandates HSBC/Nom
for roadshow from Aug. 22; 144a/Reg-S deal may follow
* Cabot Corp (CBT) Baa2/BBB, filed debt shelf; last priced a
new deal in 2012, has $300m maturing Oct. 1
* ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, August 18th, 2016
Via WSJ:
By Anjani Trivedi
Updated Aug. 18, 2016 5:03 p.m. ET
0 COMMENTS
The latest in the travails of Japanese banks: Impending money-market overhauls in the U.S. are sapping a key source of dollar funding. Their plans to escape Japan’s economic whirlpool just got harder.
Adding to the list of negative interest rates and ...
Posted in Uncategorized | Comments Off on Expensive Funding for Japanese Banks
Thursday, August 18th, 2016
Via Bloomberg:
Fed’s Williams: Makes Sense to Gradually Hike Sooner, Not Later
2016-08-18 20:00:00.14 GMT
By Vivien Lou Chen
(Bloomberg) -- SF Fed Pres. John Williams says return to
gradual pace of hikes makes sense given “strong” U.S. economy
with “good momentum,” warns of risks in waiting too long.
* “Makes sense to get back to a ...
Posted in Uncategorized | Comments Off on Hawkish Williams
Thursday, August 18th, 2016
Via Bloomberg:
Ex-Fed Chairman says low rates won’t last ’very much longer’
Greenspan also forecasts that euro zone ‘will break down’
Former Federal Reserve Chairman Alan Greenspan forecast that interest rates will begin rising soon, perhaps rapidly.
“I cannot perceive that we can maintain these levels of interest rates for very much ...
Posted in Uncategorized | Comments Off on Maestro Touts Higher Rates
Thursday, August 18th, 2016
Via Barron's:
By
Randall W. Forsyth
Updated Aug. 18, 2016 1:05 p.m. ET
The U.S. central bank officially has been independent of the executive branch since the 1930s but rarely has been exempt from the influence of politics. The Yellen Fed is in the midst of a contentious campaign. Photo: Andrew Harrer/Bloomberg
How much do ...
Posted in Uncategorized | Comments Off on Political Economy
Thursday, August 18th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Weakens Post-FOMC Minutes
FOMC minutes were balanced, disappointing those looking for a more hawkish stance
During the North American session, the US reports weekly jobless claims, August Philly Fed survey, and July leading index
The UK reported firm July retail sales
The ...
Posted in Uncategorized | Comments Off on FX
Thursday, August 18th, 2016
Via Bloomberg:
Ten-year bond yield rises to highest level this month
Fitch Ratings scheduled to issue latest update on Friday
Portugal’s government bonds are again diverging from their euro-region counterparts.
Portuguese 10-year bonds fell for a third day Thursday even as their European peers advanced. The yield rose to the highest this ...
Posted in Uncategorized | Comments Off on Angst in Portugal
Thursday, August 18th, 2016
Via Greg Ip at WSJ:
By Greg Ip
Aug. 17, 2016 12:55 p.m. ET
385 COMMENTS
Barack Obama’s signature health-care law is struggling for one overriding reason: Selling mispriced insurance is a precarious business model.
Aetna Inc. dealt the Affordable Care Act a severe setback by announcing Monday it would drastically reduce its participation in ...
Posted in Uncategorized | Comments Off on Mispriced Insurance
Wednesday, August 17th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Bounce Continues Ahead of FOMC Minutes
The dollar is building on yesterday’s Dudley-related bounce
The FOMC minutes from last month's meeting will be released
The UK reported firm labor market data
New Zealand reported Q2 employment data overnight
South Africa reports ...
Posted in Uncategorized | Comments Off on FX