Archive for September, 2016
Thursday, September 22nd, 2016
Via Kit Juckes at SocGen:
That thing where I realise an hour later that blackberry doesn't always send things anymore....
<http://www.sgmarkets.com/r/?id=h11627cf4,1863fd1a,1863fd1b&p1=136122&p2=a05212a102fa59d0acb353411ed084c8>
A grey, flat, Dutch morning after an FOMC/BOJ day that delivered a market response I didn't expect. These are treacherous markets but the overwhelming magnetic force of yield and carry continues to ...
Posted in Uncategorized | Comments Off on Early FX
Thursday, September 22nd, 2016
Via Bloomberg:
Gundlach, Fidelity Differ on Treasuries as Citi Says Buy on Dips
Narayanan Somasundaram
sonarayanan
September 21, 2016 — 10:26 PM EDT
Updated on September 22, 2016 — 2:14 AM EDT
U.S. 10-year note yield will rise above 2% this year: Gundlach
Fidelity sees yields staying at historically low levels
Jeffrey Gundlach and Fidelity Investments differed in ...
Posted in Uncategorized | Comments Off on Dueling PMs
Wednesday, September 21st, 2016
Via TDSecurities:
TD SECURITIES DATAFLASH
US: Second Hike is Just Around the Corner
· Federal Reserve leaves its fed funds rate unchanged but delivers a statement that virtually cements a 2016 hike. The accompanying dot plot helped to offset a lot of this dovishness by paring back the pace of 2017 hikes.
· The ...
Posted in Uncategorized | Comments Off on FOMC Analysis
Wednesday, September 21st, 2016
Via WSJ:
By TAKASHI NAKAMICHI and MEGUMI FUJIKAWA
Updated Sept. 21, 2016 3:33 a.m. ET
18 COMMENTS
TOKYO—Japan’s central bank took an unexpected step Wednesday, introducing a zero interest-rate target for 10-year government bonds to step up its fight against deflation, after an internal review of previous measures that fell short of expectations.
The adoption ...
Posted in Uncategorized | Comments Off on BOJ
Wednesday, September 21st, 2016
Via Bloomberg:
=============================================================================
Robert Elson
(212) 617-2981
[email protected]
Bloomberg L.P.
731 Lexington Avenue / 4th Floor
New York, NY 10022
IG CREDIT PIPELINE: Issuance Lull Expected Waiting for Fed
2016-09-21 09:31:29.121 GMT
By Robert Elson
(Bloomberg) -- LATEST UPDATES
* ICBC Financial Leasing (ICBCIL) A1/A, mandates
C/BNP/BoC/GS/ICBC/JPM/ShangPudong for possible $bench
144a/Reg-S deal; investor calls/meetings from Sept. 20
* Starbucks (SBUX) A2/A-, filed a debt shelf ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, September 21st, 2016
Via Marc Chandler at Brown Brothers Harriman:
BOJ Eases Self-Imposed Restrictions, but Can't Weaken the Yen
Much of what the Bank of Japan announced today had been largely leaked
Attention turns to the Federal Reserve
In lieu of a rate hike, the dot plots and Yellen's press conference will be the ...
Posted in Uncategorized | Comments Off on FX
Thursday, September 15th, 2016
I wont be a regular blogger the next several days but here is a retail sales recap via TDSecurities:
US: Retail Sales Falls Short of Expectations
· August retail sales slipped by 0.3% m/m, which was worse than the consensus had expected. Much of the weakness was concentrated in autos and ...
Posted in Uncategorized | Comments Off on Retail Sales Analysis
Tuesday, September 13th, 2016
Via Ian Lyngen:
We are cautiously optimistic about this afternoon’s long-bond Reopening auction and are anticipating a fair takedown (on-the-screws) or a modest stop-through – assuming that the recent concession is enough of an incentive to attract dip-buyers. We’re also cognizant that the sector has recently performed well at auction and ...
Posted in Uncategorized | Comments Off on Thirty Year Bond Auction Preview
Tuesday, September 13th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Firms Amidst Much Noise, Weak Signal
The dollar was firm before its Brainard-induced gyrations, and it has regained its footing
China reported firm August IP and retail sales
The UK and Sweden both reported lower than expected August CPI
South Africa’s ...
Posted in Uncategorized | Comments Off on FX
Tuesday, September 13th, 2016
Via Bloomberg:
Yuan Liquidity Squeeze a Bad Sign for China’s Equity Market
Justina Lee
justinaknope
September 12, 2016 — 12:00 PM EDT
Updated on September 13, 2016 — 5:51 AM EDT
China focusing on currency at expense of stocks: Hao Hong
Yuan loan rates in Hong Kong surge to seven-month high
The outlook for one of the world’s ...
Posted in Uncategorized | Comments Off on liquidity Squeeze in China