Archive for September, 2016
Friday, September 30th, 2016
Via TDSecurities:
TD Securities Dataflash
TD: Spending momentum likely to ease in Q3, but core inflation perking up
· Personal income suggests a smaller consumer contribution to Q3 GDP growth than during Q2, with real personal spending slipping 0.1% m/m.
· Inflation did show signs of perking up, with core PCE accelerating to ...
Posted in Uncategorized | Comments Off on Consumer Spending Analysis
Friday, September 30th, 2016
Via Bloomberg:
European Banks Are Asking the ECB for a Lot More Dollar Funding
Rise in dollar demand may point to increasing tensions for region's lenders
Lorcan Roche Kelly
lorcanRK
September 30, 2016 — 5:21 AM EDT
The European Central Bank has been been holding U.S. dollar-providing operations since the weeks after the collapse of Lehman ...
Posted in Uncategorized | Comments Off on Dollar Demand in Europe
Friday, September 30th, 2016
The Washington Post reports that the Obama Administration is planning to use an obscure law to bail out insurance companies and defy the will of the Congress.
Via the Washington Post:
Obama administration may use obscure fund to pay billions to ACA insurers
By Amy Goldstein September 29 at 12:25 PM
The Obama administration ...
Posted in Uncategorized | Comments Off on Lawless Chutzpah
Friday, September 30th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Finishing Week on Firm Note
True to its recent habit, the US dollar is finishing the week on a firm note
Japan released a mixed bag of data; Eurozone data was largely in line with expectations
Better than expected UK data failed to ...
Posted in Uncategorized | Comments Off on More FX
Friday, September 30th, 2016
Via Kit Juckes at SocGen:
A mixed bag of data overnight (Japan deflation poor PMI in Korea, marginally better one in China, solid UK consumer confidence) but gloom is returning to markets. Our rates strategists have thrown in the towel on short duration trades, and that's leaving FX is a mostly ...
Posted in Uncategorized | Comments Off on Early FX
Friday, September 30th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: $25b Priced So Far, More Today Is Possible
2016-09-30 09:28:56.36 GMT
By Robert Elson
(Bloomberg) -- There has been issuance in a Friday session
at least 15x YTD. A self-led Financial may be possible.
LATEST UPDATES
* Comision Federal De Electricidad (CFELEC) Baa1/BBB+,
mandates BBVA/BAML/C for investor meetings from Oct. 4
* Global Bank ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Friday, September 30th, 2016
Via Bloomberg:
IG CREDIT: DOW, KMI Led Trading on 100% Client Flows
2016-09-30 09:51:24.127 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $15.8b vs $18.6b Wednesday, $18.5b last Thursday. 10-
DMA $15.9b; 10-Thursday moving avg $15.3b.
* 144a trading added $3.2b of IG volume vs $2.6b on Wednesday,
$2.7b last Thursday; ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, September 29th, 2016
Via WSJ:
The Ghost of Lehman Brothers Haunts Deutsche Bank
But parallels to failed investment bank are misleading
By JAMES MACKINTOSH
Sept. 29, 2016 8:04 p.m. ET
0 COMMENTS
Eight years ago this month, Lehman Brothers failed in large part due to panicked hedge funds pulling their money. With some big hedge funds worried enough to ...
Posted in Uncategorized | Comments Off on Ghost of Lehman Brothers
Thursday, September 29th, 2016
Via Bloomberg:
Yellen: May Be Benefits, Costs to Fed Buying Stocks/Corp Bonds
2016-09-29 20:27:08.873 GMT
By Vivien Lou Chen
(Bloomberg) -- Fed Chair Janet Yellen says there could be
benefits to Fed buying equities or corporate bonds, yet would
also likely be costs that have to be considered.
* Idea of expanding into areas like equities might ...
Posted in Uncategorized | Comments Off on Yellen on Asset Purcchases
Monday, September 26th, 2016
Via Bloomberg:
Carney's Corporate-Bond Purchases May Worsen Liquidity Squeeze
Joe Mayes
Joe_Mayes
September 26, 2016 — 6:05 AM EDT
Central bank aims to acquire 10 billion pounds of company debt
Buying may tighten shortage of notes in small sterling market
The start of the Bank of England’s corporate-bond buying program on Tuesday may exacerbate already tight liquidity ...
Posted in Uncategorized | Comments Off on Impaired Liquidity