Archive for October, 2016
Monday, October 17th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: 3 Yankees to Price, Domestics Expected
2016-10-17 09:50:10.486 GMT
By Robert Elson
(Bloomberg) -- Expected to price today:
* Industrial & Commercial Bank of China (ICBCAS) A1/A, to
price 2-part deal, via managers BNP/BAML/C/WFS
* 5Y, IPT +150 area
* 10Y, IPT +170 area
* Korea National Oil (KOROIL) Aa2/AA, to price 2-part
144a/Reg-S deal, ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, October 17th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Four Key Events in the Week Ahead
ECB meeting
Bank of Canada meeting
UK High Court ruling on role of Parliament in Brexit
DBRS Reviews Portugal credit rating
The US dollar is narrowly mixed. The Australian dollar is competing with sterling for the heaviest ...
Posted in Uncategorized | Comments Off on More FX
Monday, October 17th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h1188ae10,18a21a46,18a21a47&p1=136122&p2=3ac2afd229b864222aa934befde45602>
Link to last night's piece again. Not a lot has changed. Sterling's no lower than it was when I went to bed, Brent unch'd at $51.90, 10yr Notes steady at 1.79. Japan IP was revised down to +1.3 m/m, UK Rightmove house prices +4.2% y/y. Asian ...
Posted in Uncategorized | Comments Off on Early FX
Monday, October 17th, 2016
WSJ scribe Hilsenrath interviews recent dissenter Rosengren who favors a steady course in November and a rate hike in December.
Via Jon Hilsenrath of the WSJ:
Rosengren Signals Willingness to Keep Rates Steady in November
By
Jon Hilsenrath
Updated Oct. 17, 2016 12:03 a.m. ET
0 COMMENTS
BOSTON— Eric Rosengren, president of the ...
Posted in Uncategorized | Comments Off on Hilsenrath Article
Sunday, October 16th, 2016
A new electronic platform will allow dealers to blacklist counterparties they deem predatory.
Via Bloomberg and quite interesting (at least to me):
One Man’s Crusade to Tame Most Dangerous Predators in Treasuries
Eliza Ronalds-Hannon
ElizaHannon
October 16, 2016 — 7:00 PM EDT
Ex-BrokerTec CEO starts new platform to combat abusive HFTs
Critics blame ‘phantom liquidity’ for drop ...
Posted in Uncategorized | Comments Off on Predatory Trading in Treasury Market
Sunday, October 16th, 2016
Via Bloomberg:
Big Central Bank Assets Jump Fastest in 5 Years to $21 Trillion
Phil Kuntz
October 16, 2016 — 7:00 PM EDT
Up 10% this year to almost a third the size of world economy
Trajectory coincides with the rise in global stocks and bonds
The world’s biggest central banks are bulking up their balance ...
Posted in Uncategorized | Comments Off on Easy Money on Steroids
Sunday, October 16th, 2016
Via Bloomberg:
More Than 1 Million to Lose Obamacare Plans as Insurers Quit
Zachary Tracer
ZTracer
Tatiana Darie
tatianadariee
Katherine Doherty
October 14, 2016 — 5:00 AM EDT
Updated on October 14, 2016 — 4:34 PM EDT
Insurers quitting is latest threat to health law’s markets
Health law has become major focus of Trump, Clinton election
A growing number of people ...
Posted in Uncategorized | Comments Off on ObamaCare (Res Ipsa Loquitur)
Sunday, October 16th, 2016
Via Bloomberg:
Once-in-4,800-Year Shock Is Bond Market’s Cold Case Two Years On
Rebecca Spalding
@rcurtisspalding
Eliza Ronalds-Hannon
ElizaHannon
October 13, 2016 — 7:45 PM EDT
Updated on October 14, 2016 — 11:00 AM EDT
Regulators say market safer now than before 2014 flash rally
Analysts say next sudden swing could be even more extreme
Two years since a burst of ...
Posted in Uncategorized | Comments Off on October 14 2014 Flash Crash and Treasury Market Liquidity (or lack Thereof) Revisited
Sunday, October 16th, 2016
Via Kit Juckes at SocGen:
Two Sunday evening links. One from Michala on the economics of bond yields and one from me on why the Euro looks vulnerable this week.
<http://www.sgmarkets.com/r/?id=h1188ae10,18a21a46,18a21a47&p1=136122&p2=3ac2afd229b864222aa934befde45602>
Euro and T-Note positions - room to break EUR/USD lower
For once, the most interesting data in this week's CFTC (FX) position report ...
Posted in Uncategorized | Comments Off on Sunday Evening FX Musings
Saturday, October 15th, 2016
Via Bloomberg:
Saleha Mohsin
SalehaMohsin
October 14, 2016 — 4:00 PM EDT
Updated on October 14, 2016 — 4:36 PM EDT
Receipts rise 1%, outlays increase 5% in year, Treasury says
Deficit as a share of GDP near 40-year average: Treasury
The U.S. budget deficit as a share of the economy widened for the first time in ...
Posted in Uncategorized | Comments Off on Rising Deficit and Rising Spending