Archive for October, 2016
Monday, October 24th, 2016
Via WSJ:
By Jon Sindreu
Oct. 23, 2016 3:23 p.m. ET
52 COMMENTS
A growing number of investors and policy makers, seeing central banks as powerless to revive an anemic global economy, are championing a resurgence of fiscal spending.
A move away from central-bank-led policy, and toward the use of the government’s taxing-and-spending power to ...
Posted in Uncategorized | Comments Off on Pulling Fiscal Policy Lever
Monday, October 24th, 2016
Via Bloomberg:
A debate about the future of the Bank of England governor may be the last thing U.K. markets need.
Amid uncertainty about Britain’s relationship with the European Union, Mark Carney has been hailed as a source of stability even as he faces renewed political criticism. But with a self-imposed year-end ...
Posted in Uncategorized | Comments Off on Carney’s Future and Bank of England
Monday, October 24th, 2016
Via Kit Juckes at SocGen;
<http://www.sgmarkets.com/r/?id=h1196a55b,18b89c9c,18b89c9d&p1=136122&p2=2880db56d55d5c0c85c7b4d1797cfde0>
DBRS left Portugal's investment-grade rating intact and Spanish politicians opened the door for Mariano Rajoy to form a government. The start to the week has seen a softish tone to bond yields in Asia, but a solid tone to equity markets, with oil prices going nowhere ...
Posted in Uncategorized | Comments Off on Early FX
Monday, October 24th, 2016
Via Bloomberg:
G CREDIT PIPELINE: T/TWX Deal to Be Funded With Debt in Part
2016-10-24 09:24:27.148 GMT
By Robert Elson
(Bloomberg) -- The rush to beat election day looks to begin
in earnest this week with 86% of respondents to a Bloomberg
survey expecting at least $20b of new IG issuance to price. 42%
look for over ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, October 24th, 2016
Via Bloomberg:
IG CREDIT: New ENRSIS, C 10Y Issues Led Trading Friday
2016-10-24 09:42:59.695 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $12b Friday vs $16.5b Thursday, $11.7b the previous
Friday. 10-DMA $13.9b; 10-Friday moving avg $11.5b.
* 144a trading added $1.6b of IG volume Friday vs $2.6b
Thursday, $1.9b last ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, October 24th, 2016
Via Bloomberg:
Brian Chappatta
BChappatta
October 23, 2016 — 6:00 PM EDT
Updated on October 23, 2016 — 11:20 PM EDT
Global government debt due in decade or more swells by record
Duration buildup creates vulnerability to interest-rate shock
The hottest craze in fixed income is at risk of overheating.
A headlong rush into higher-yielding, long-term bonds in ...
Posted in Uncategorized | Comments Off on Crowded Trade In Treasuries
Tuesday, October 18th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Slips Broadly but not Deeply
UK and New Zealand inflation was stronger than expected. Will the US CPI follow suit?
China's credit expansion continues, and faster than economists anticipated
Can EU trade ministers ensure that the trade agreement with Canada stays on ...
Posted in Uncategorized | Comments Off on FX
Tuesday, October 18th, 2016
Via Bloomberg:
IG CREDIT: Volume Higher; Rarely Seen Issues Are Most Active
2016-10-18 10:17:06.485 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.9b vs $11.7b Friday. 10-DMA $14.1b; 10-Monday
moving avg $12.8b.
* 144a trading added $2b of IG volume vs $1.9b Friday
* Trace most active issues:
* CF 4.95% 2043 ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Tuesday, October 18th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Yankees, SSAs and Bank of America to Price
2016-10-18 09:50:45.428 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Japan Finance Organization for Municipalities (JFM) A1/A+,
to price $1b 144a/Reg-S 7Y, via managers BAML/C/Daiwa/Miz;
guidance MS +87 area
* Turkiye Ihracat Kredi Bankasi AS (EXCRTU) Ba1/na/BBB-, to
price $500m 144a/Reg-S 7Y, via ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Tuesday, October 18th, 2016
Via Bloomberg:
China Money Rate Climbs Most in Two Years as PBOC Drains Funds
Bloomberg News
October 18, 2016 — 5:17 AM EDT
China’s two-week money-market rate climbed the most in almost two years as the central bank drained funds from the financial system and a weakening yuan reduced the possibility of monetary easing.
The ...
Posted in Uncategorized | Comments Off on Short Rate at Two Year High in China