Archive for October, 2016
Thursday, October 27th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Rising Yields Remain the Main Driver
The driving force in FX markets is the continued climb in interest rates
While the ECB is widely expected to announce its changes at the December meeting, the BOJ's Kuroda all but said not to expect any action ...
Posted in Uncategorized | Comments Off on FX
Thursday, October 27th, 2016
Via Bloomberg:
October 27, 2016 — 5:30 AM EDT
Money markets show diminishing chance of rate cut in 2017
Carney this week said there are limits to inflation tolerance
U.K. government bonds fell, sending yields to the highest since Britons voted to leave the European Union, as investors reassessed the future path ...
Posted in Uncategorized | Comments Off on Gilt Yields Climbing
Thursday, October 27th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 5 Expected to Price, Domestics to Be Added
2016-10-27 09:43:57.66 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Japan Bank for International Cooperation (JBIC) A1/A+, to
price $benchmark 2-part deal, via BAML/JPM/Miz/Nom
* 5Y, guidance MS +64 area
* 10Y, guidance MS +65 area
* EQUATE Petrochemical (EQUATE) Baa2/BBB+, to price ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, October 27th, 2016
That is the belief of analysts at Goldman Sachs.
Via Barrons:
Goldman Sachs: Election Won’t End Like Brexit
The polls suggest big differences between the U.S. presidential race and the surprise U.K. referendum.
By
Alec Phillips
Oct. 26, 2016 4:02 p.m. ET
Comparisons between the surprise outcome in the UK referendum vote earlier this year and the ...
Posted in Uncategorized | Comments Off on No Surprise Brexit Like Outcome in US Election
Thursday, October 27th, 2016
TIPS bonds which measure market based measures of inflation expectation are enjoying their day in the sun. One month ago (September 27) 5 year BEs stood at 145. As I compose this electronic missive that metric trades at 163. Similarly 10s have moved from 157 to 173 and 30s have ...
Posted in Uncategorized | Comments Off on Market Based Inflation Expectations
Thursday, October 27th, 2016
Via Bloomberg:
U.K. Growth Shows an Economy Resilient to Brexit
Jill Ward jillianfward
October 27, 2016 — 4:30 AM EDT Updated on October 27, 2016 — 4:53 AM EDT
The U.K. economy grew faster than economists forecast in the third quarter, with services single-handedly ensuring resilience against any ...
Posted in Uncategorized | Comments Off on Ignoring Brexit
Wednesday, October 26th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Euro and Yen Extend Recovery
The US dollar's upside momentum reversed in North America yesterday and it has been sold in Asia and Europe
The Australian dollar leads the majors higher, helped by a slightly firmer than expected Q3 CPI
Apple reported its first ...
Posted in Uncategorized | Comments Off on FX
Wednesday, October 26th, 2016
You cant take bank stock to the super market and buy bread and milk for the children nor can you take it to a Porsche dealer in Greenwich and buy a new car.
Via Bloomberg:
Options said to include giving shares in non-core unit or bank
CEO Cryan is seeking to ...
Posted in Uncategorized | Comments Off on Possible Severe Steps at DeutscheBank
Wednesday, October 26th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 3 Set to Price, More Names Expected
2016-10-26 09:37:19.816 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Lukoil International Finance (LUKOIL) Ba1/BBB-, to price
$benchmark 144a/Reg-S 10Y, via managers C/JPM; IPT 5.00%
area
* European Bank for Reconstruction & Development (EBRD)
Aaa/AAA, to price $1b Global 5Y, via BAML/C/HSBC/TD;
guidance MS +21 ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Wednesday, October 26th, 2016
Via Kit Juckes at SocGen:
1.75% - just a number but one that does a decent job of sucking the energy out of markets. 10-year Treasury yields are back in no-man's land at 1.75%, oil prices are back down with Brent below USD 50/bbl on concerns that output reductions will be ...
Posted in Uncategorized | Comments Off on Early FX