Archive for September, 2016
Thursday, September 1st, 2016
Via Millan Mulraine at TDSecurities:
US: Methodology Adjustment Pushes ULC Sharply Higher
· The Q2 labor productivity estimate was revised modestly lower to -0.6% from -0.5%, marking the third consecutive decline in the indicator.
· However, the big story was the sharp upward revision to the unit labor costs (ULC) measure, up from 2.0% ...
Posted in Uncategorized | Comments Off on Data Analysis
Thursday, September 1st, 2016
Via Marc Chandler at Brown Brothers Harriman:
A Couple of Surprises Start the New Month
UK manufacturing PMI posts record bounce, sending sterling a cent higher
French and Italian PMIs disappoint
China's official manufacturing PMI is at its highest level since October 2014
Japan's soft capex figures warn of risk of ...
Posted in Uncategorized | Comments Off on More FX
Thursday, September 1st, 2016
Via Bloomberg:
Matthew Boesler
boes_
August 31, 2016 — 5:30 PM EDT
Inflation takes backseat with mute projected price pressures
Evans says anchored rate expectations to limit financial risk
With U.S. inflation low and seen staying that way, Federal Reserve officials who favor raising interest rates point to preserving financial stability as another reason to move. ...
Posted in Uncategorized | Comments Off on Financial Stability and Rate Hikes
Thursday, September 1st, 2016
Via Bloomberg:
Yellen Speech Contained Clue to Reading the August Jobs Report
2016-09-01 09:00:00.8 GMT
By Michelle Jamrisko
(Bloomberg) -- An overlooked line in Federal Reserve Chair
Janet Yellen’s speech last week could hold the key to whether
Friday’s U.S. jobs report clinches an interest-rate increase
this month.
While the focus was on Yellen’s statement that the case ...
Posted in Uncategorized | Comments Off on Lower Bar for Fed to Hike
Thursday, September 1st, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h113cc38c,18274870,18274871&p1=136122&p2=50f4f6384a99a7bfa4d119b5bf3d35e6>
Welcome to September - season of conkers, blackberries and mushrooms (here, anyway). The pick of August's currencies were the oil-sensitive COP, RUB, and NOK. Not so much this morning though as yesterday's US oil inventory data took prices down. On a 12-month view, oil prices are ...
Posted in Uncategorized | Comments Off on Some FX Musings
Thursday, September 1st, 2016
Via Bloomberg:
IG CREDIT: Volume Higher Led by Client Selling of MSFT Issues
2016-09-01 10:00:29.365 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $16.8b vs $15.4b Tuesday, $16.1b last Wednesday. 10-DMA
$13.6b; 10-Wednesday moving avg $17.4b.
* 144a trading added $2.0b of IG volume vs $2.1b on Tuesday,
$2.4b last Wednesday
* ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, September 1st, 2016
Via Bloomberg:
CREDIT PIPELINE: September Expected to See Over $100b
2016-09-01 09:42:54.28 GMT
By Robert Elson
(Bloomberg) -- August ended with a startling IG issuance
total near $140b vs last year’s $64b; sans SAS deals $117b.
* September may be lower than some expectations if some of
those deals were pushed forward into August
* September still expected ...
Posted in Uncategorized | Comments Off on Credit Pipeline