Archive for October, 2016
Tuesday, October 4th, 2016
Via Bloomberg:
IG CREDIT: Client Trades in 30Y, 5Y Topped the Most Active List
2016-10-04 10:16:58.682 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $12.4b vs $15.3b Friday, $12.8b last Monday. 10-DMA
$16b; 10-Monday moving avg $12.9b.
* 144a trading added $1.9b of IG volume vs $2.2b Friday, $2.1b
last Monday
* ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Tuesday, October 4th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Sterling's Slide Continues, Greenback is Broadly Bid
UK Prime Minister May's comments at the Tory Party Conference over the weekend played up the risk of what has been dubbed a hard Brexit
The UK construction PMI jumped to 52.3 from 49.2
Many observers are ...
Posted in Uncategorized | Comments Off on FX
Tuesday, October 4th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: KHFC to Price as List Keeps Growing
2016-10-04 09:46:31.553 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Korea Housing Finance Corp (KHFC) Aa1/na/AA-, set to price
$benchmark 144a/Reg-S 5Y Covered Bond, via managers
BNP/C/ING/SCB; IPT +100 area
LATEST UPDATES:
* Asciano (AIOAU) Baa3/BBB-, names ANZ/BNP/Miz for investor
meetings Oct. 10-28; it is ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Tuesday, October 4th, 2016
Via Bloomberg:
October 3, 2016 — 1:00 PM EDT
Updated on October 4, 2016 — 2:14 AM EDT
Important to take ‘currency-by-currency’ approach: Pimco says
Aussie moves in line with riskier assets, yen moves inversely
Pacific Investment Management Co. says one-size-fits-all hedging tactics are undermining pension returns.
Many institutional investors choose uniform currency protection for each ...
Posted in Uncategorized | Comments Off on Only Perfect Hedge is in a Japanese Garden
Tuesday, October 4th, 2016
Via Bloomberg:
Italy pays most to borrow compared with Spain for two years
Different treatment by investors mirrors divergent risks
It’s Italy’s turn to worry the bond market.
Two months before a referendum on reducing the power of the Senate, the country now pays the most to borrow compared with Spain since ...
Posted in Uncategorized | Comments Off on Italy v Spain
Tuesday, October 4th, 2016
Via WSJ:
By Kelsey Gee
Updated Oct. 3, 2016 4:10 p.m. ET
18 COMMENTS
Cattle and hog prices hover near the lowest levels in years as U.S. meatpackers produce the largest volume of meat in history.
Last week’s 9.2% slide in hog futures on the Chicago Mercantile Exchange was a dramatic turnaround for what was ...
Posted in Uncategorized | Comments Off on Meat Glut
Tuesday, October 4th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h1173f239,188080ce,188080cf&p1=136122&p2=0e960e0ce86361ed9633401ec6850936>
A bit sterling-heavy this morning, but as the UK Government gets out a scalpel and carefully cuts off the pound's nose to spite the face of liberal London, it's the main story in town...Confirmation that the UK Government plans to trigger article 50 by the end ...
Posted in Uncategorized | Comments Off on Early FX
Monday, October 3rd, 2016
The Atlanta Fed forecast for Q3 GDP growth is now at 2.2 percent. That is down from an estimate of about 3.7 percent at the start of the quarter.
Via FRB Atlanta:
Latest forecast: 2.2 percent — October 3, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in ...
Posted in Uncategorized | 1 Comment »
Monday, October 3rd, 2016
Via TDSecurities:
US: Manufacturing PMI Breathes Sigh of Relief to US Growth Concerns
· The ISM manufacturing PMI returned to expansionary territory in September, rebounding to 51.5 after plunging over 3 points to 49.4 in August. The index beat expectations for a more modest bounce back to 50.4.
· Details were ...
Posted in Uncategorized | Comments Off on PMI
Monday, October 3rd, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The start of this week will likely be driven by Deutsche Bank's travails and dollar funding pressures, which may or may not be related
At the end of the week, the US reports September employment data
The leading ...
Posted in Uncategorized | Comments Off on FX