Archive for October, 2016

Some Corporate Bond Stuff

Monday, October 3rd, 2016

Via Bloomberg: IG CREDIT: Volume Falls as Issuance Fades at Month/Quarter End 2016-10-03 09:50:48.453 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $15.3b Friday vs $15.8b Thursday, $13.3b the previous Friday. 10-DMA $16.2b. * 144a trading added $2.2b of IG volume vs $3.2b Thursday, the highest 144a trading session since $3.5b ...

Credit Pipeline

Monday, October 3rd, 2016

Via Bloomberg: IG CREDIT PIPELINE: Long List Awaits Start of Final Quarter 2016-10-03 09:29:31.752 GMT By Robert Elson (Bloomberg) -- LATEST UPDATES: * Export-Import Bank of Korea (EIBKOR) Aa2/AA, hires ANZ/BAML/CA/Miz/Samsung/SG/UBS for investor meetings from Oct. 3; USD short to intermediate maturity deal may follow * UPL Corp (UPL) Baa3/BBB-, mandates ANZ/C/CS/DB/JPM for investor meetings Sept. 29-Oct. 4; 144a/Reg-S ...

Fixing ObamaCare

Monday, October 3rd, 2016

Via the NYTimes: Ailing Obama Health Care Act May Have to Change to Survive By ROBERT PEAROCT. 2, 2016   WASHINGTON — The fierce struggle to enact and carry out the Affordable Care Act was supposed to put an end to 75 years of fighting for a health care system to insure all Americans. ...

Metals in Bull Market

Monday, October 3rd, 2016

Via Bloomberg: Ranjeetha Pakiam David Stringer david_stringer October 2, 2016 — 10:43 PM EDT Updated on October 3, 2016 — 2:50 AM EDT China data ‘undeniably beneficial’ for metals: CME’s Norland LME Index has advanced to its highest in more than a year   Copper advanced as industrial metals held gains that have pushed them into a bull market ...

OPEC Output Cut is Too Little and Too Late

Monday, October 3rd, 2016

Via WSJ: An OPEC Output Cut Not Likely to Alter Oil Imbalance Many analysts say the proposed reduction isn’t big enough, nor will it happen quickly enough By Nicole Friedman Oct. 2, 2016 2:08 p.m. ET OPEC’s move to cut output might be too late. After pumping full tilt for the past two years, the Organization ...

Early FX

Monday, October 3rd, 2016

Via Kit Juckes at SocGen: <http://www.sgmarkets.com/r/?id=h1170311f,187ac0b5,187ac0b6&p1=136122&p2=f94495df1b24d80c637ae8da04b27a1e> The first working day of October means the darkest start in months and despite being a beatiful autumnal morning, cold. Markets are quiet with a bunch of places off, and the early focus is on PMIs, though we did get some sterling softness afteer Mrs May's ...

European Manufacturing Shows Some Strength

Monday, October 3rd, 2016

Via Bloomberg: Carolynn Look carolynnlook October 3, 2016 — 4:00 AM EDT Updated on October 3, 2016 — 4:20 AM EDT PMI increased to 52.6 in September from 51.7 in August Stronger demand seen from domestic, international customers   Manufacturing in the euro area accelerated in September as incoming new business grew at the fastest pace in three ...

Unintended Consequences

Sunday, October 2nd, 2016

Via WSJ: Deutsche Bank and the Unintended Consequence How Dodd-Frank and other steps to redress the 2008 crisis are helping to foment the next panic. By Holman W. Jenkins, Jr. Sept. 30, 2016 6:39 p.m. ET Hillary Clinton in Monday’s debate attributed the 2008 financial crisis to “trickle down” economics and Republican tax cuts. That’s ...

Bond Bull Case

Sunday, October 2nd, 2016

Via WSJ: Credit Markets Why the Bond Bulls Will Keep Running The fourth quarter will likely bring continued strength for bond prices, many portfolio managers say By Min Zeng Oct. 2, 2016 7:00 a.m. ET 0 COMMENTS The fourth quarter will likely bring continued strength for bond prices, many portfolio managers say. While the yield on the 10-year ...