Archive for September, 2016
Friday, September 23rd, 2016
Via Bloomberg:
Eric Roston
eroston
September 23, 2016 — 6:00 AM EDT
Carbon dioxide doesn't kill climates; people do. And the world would be better off with fewer of them.
That's a glib summary of a serious and seriously provocative book by Travis Rieder, a moral philosophy professor and bioethicist at Johns Hopkins University.
When economists ...
Posted in Uncategorized | Comments Off on Modern Malthusian
Friday, September 23rd, 2016
Via WSJ:
Ahmed Al Omran in Riyadh, Saudi Arabia, and
Nikhil Lohade in Dubai
Sept. 23, 2016 5:30 a.m. ET
Mohammed Idrees used to travel to London once or twice a year, but these days the Saudi civil servant is asking his wife and children to cut back on using the family car to ...
Posted in Uncategorized | Comments Off on Saudi Squeeze
Friday, September 23rd, 2016
Via Marc Chandler at Brown Brothers Harriman:
It's Friday and the Dollar is Firmer Again
Today has the making of the sixth consecutive Friday that the dollar gains against the euro and yen
The main news from Europe is the flash PMI
The North American session features four Fed speakers, ...
Posted in Uncategorized | Comments Off on FX
Friday, September 23rd, 2016
Via Bloomberg:
IG CREDIT: Above Average Volume; ORCL 30Y Most Active
2016-09-23 09:52:12.233 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $18.5b vs $16.3b Wednesday, $15.9b the previous
Thursday. 10-DMA $15.7b; 10-Thursday moving avg $15.4b.
* 144a trading added $2.7b of IG volume vs $2.1b Wednesday,
$2.2b last Thursday
* Trace most ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Friday, September 23rd, 2016
Via Bob Elson at Bloomberg:
IG CREDIT PIPELINE: Friday Issuance Always Possible
2016-09-23 09:22:13.342 GMT
By Robert Elson
(Bloomberg) -- At least 15 Friday sessions have seen IG
issuance this year. A self-led Financial deal is possible.
LATEST UPDATES
* El Puerto de Liverpool (LIVEPL) na/BBB+/BBB+, mandates
C/CS/JPM for investor meetings Sept. 26-28; 144a/Reg-S 10Y
expected to follow
* Korea ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Friday, September 23rd, 2016
Via Kit Juckes at SocGen:
The week appears to be simply running out of steam (or maybe that's just me), but the net result of the BOJ and Fed is lower yields, which wasn't the idea. I still think the long global bond rally's in its final stage but I'm not ...
Posted in Uncategorized | Comments Off on Early FX
Thursday, September 22nd, 2016
Via Bloomberg:
Tiger Cub Citrone Sees Market in Biggest Correction Since 2008
Simone Foxman
SimoneFoxman
September 21, 2016 — 10:31 AM EDT
Discovery’s Citrone says downturn may last 3 to 4 months
It’s a ‘healthy adjustment’ in overvalued market, Citrone says
Robert Citrone, the Tiger cub who now runs one of the best-known macro hedge funds, is ...
Posted in Uncategorized | Comments Off on “Healthy Adjustment”
Thursday, September 22nd, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 4 Set to Price, More Domestics Expected
2016-09-22 09:53:23.329 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Sinopec Group Overseas Development (SINOPE) Aa3/A+, to price
$bench 144a/Reg-S 3-part deal, via managers C/BoC/GS
* 3Y, IPT +115 area
* 5Y, IPT +120 area
* 10Y, IPT +150 area
* Mexico City Airport Baa1/BBB+, ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, September 22nd, 2016
Via Bloomberg:
IG CREDIT: Volume Lower as Market Awaited Fed; Issuance Returns
2016-09-22 10:20:50.215 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $16.3b vs $19.1b Tuesday, $17b the previous Wednesday.
* 10-DMA $15.4b; 10-Wednesday moving avg $17b
* 144a trading added $2.1b of IG volume vs $2.4b, $2.9b last
Wednesday
* The ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, September 22nd, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Remains Under Pressure Post-Fed, Yen Stabilizes
The Federal Reserve's decision to stand pat was the most complicated in years
The FOMC statement reintroduced a risk assessment that it had removed in January
Indonesia cuts rates 25 bp while Philippines stood pat, both ...
Posted in Uncategorized | Comments Off on FX