Archive for September, 2016
Friday, September 2nd, 2016
Via Bloomberg:
IG CREDIT: Dealer Positions in Long IG Corporates Rose
2016-09-02 10:42:39.818 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in all corporate bonds fell
$2.1b to $17.6b as of August 24, according to Fed NY release.
* $6.5b low Oct. 2015; high $45.9b March 2014
* Investment grade positions:
* Very short issues fell $319m to ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, September 2nd, 2016
Brace yourself for another battle on spending and government funding as Congress reconvenes following its recess.
Via TheHill.com
Senate braces for shutdown fight
By Alexander Bolton - 09/02/16 06:00 AM EDT
Lawmakers are returning to Washington next week to confront an impasse over funding bills that threatens to cause a government shutdown, something Republican ...
Posted in Uncategorized | 1 Comment »
Friday, September 2nd, 2016
Via Bloomberg:
IG CREDIT: Trading Volume Lower as No New Issuance Appeared
2016-09-02 10:12:08.672 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $12.8b vs $16.8b Wednesday, $14.6b last Thursday.
* 144a trading added $1.5b of IG volume vs $2b Wednesday,
$1.8b last Thursday
* The most active issues longer than a ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Friday, September 2nd, 2016
Via Marc Chandler at Brown Brothers Harriman:
US Jobs Data--Higher Anxiety, Thank You Mr. Fischer
US jobs data have extra significance following Fed Vice Chairman Fischer's comments at Jackson Hole
The median market expectation has been disappointed with the August jobs report for the last five year by an average of ...
Posted in Uncategorized | Comments Off on More FX
Friday, September 2nd, 2016
Via Bloomberg:
Craig Torres
ctorresreporter
September 2, 2016 — 12:00 AM EDT
Elon Musk and the Terrible, Horrible, No Good $779 Million Day
‘Nobody understands the inflation process,’ Slok Says
August jobs report Friday to sharpen Fed rate-hike debate
It took more than a decade for Paul Volcker and Alan Greenspan to wring persistently high inflation from ...
Posted in Uncategorized | Comments Off on Wages and the FOMC
Friday, September 2nd, 2016
Via Kit Juckes at SocGen:
The BIS' triennial FX survey, which reveals (in short) that FX volumes are down and London's share of trading has shrunk, have left this forex participant in defensive mood. It would help if everyone bought and sold a lot of EUR/USD (the cross that is most ...
Posted in Uncategorized | Comments Off on Early FX
Friday, September 2nd, 2016
Via Bloomberg:
IG CREDIT PIPELINE: List Continues to Grow for September Deals
2016-09-02 09:48:50.136 GMT
By Robert Elson
(Bloomberg) -- September expected to see an estimated
~$125b; recent history suggests that taking the over is the best
strategy.
* September may be lower than some expectations as names with
September maturities were pushed forward and issued in
July/August
LATEST UPDATES
* ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, September 1st, 2016
Via WSJ:
By Sarah Nassauer
Updated Sept. 1, 2016 1:50 p.m. ET
126 COMMENTS
Wal-Mart Stores Inc. plans to cut thousands of back-office positions around the country, a sign that the retailer’s effort to make its cavernous stores more efficient is also changing the face of its workforce.
The largest private employer in the U.S. ...
Posted in Uncategorized | Comments Off on Walmart to Layoff 7000
Thursday, September 1st, 2016
Via Bloomberg:
Another Sign Manhattan Real Estate Is Feeling the Pain
Oshrat Carmiel
OshratCarmiel
September 1, 2016 — 5:00 AM EDT
Price cuts, gift cards, penthouse parties among sales tactics
Time is the enemy in sputtering market, broker Teplitzky says
Prospective buyers at one Upper East Side condo project are quietly being offered a 5 percent discount. ...
Posted in Uncategorized | Comments Off on Glut of High Priced Apartments in Manhattan
Thursday, September 1st, 2016
Via Chris Low at FTN Financial:
ISM Manufacturing
The ISM manufacturing index unexpectedly fell from 52.6 in July to 49.4 in August, under 50 for the first time in six months. Weakness was extensive, including production, new orders, the orders backlog, employment and almost everything else.
· Production fell from 55.4 to 49.6
· ...
Posted in Uncategorized | Comments Off on More on This Morning’s Data