Archive for October, 2016
Wednesday, October 12th, 2016
Via Bloomberg:
Joseph Ciolli
JoeCiolli
October 12, 2016 — 5:00 AM EDT
Updated on October 12, 2016 — 9:58 AM EDT
Anxiety may have been hard to locate in the U.S. equity market before yesterday. But that didn’t mean it wasn’t there.
One measure of expected turbulence, the relative cost of options that pay when stocks ...
Posted in Uncategorized | Comments Off on Expensive Protection
Wednesday, October 12th, 2016
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: Over the next week, the Bberg consensus expects the monetary report will show continued strength in Aggregate Financing at CNY1,390bn versus a solid CNY1,469.7bn in August. The improvement would likely reflect solid loan growth as fiscal stimulus takes hold. Over the next two ...
Posted in Uncategorized | Comments Off on Overnight Preview
Wednesday, October 12th, 2016
Via Ian Lyngen:
We are apprehensive about this morning’s $24 bn 3-year auction and see the risk skewed toward a small tail. Our logic is straightforward; net new issuance is the highest for this trio since December, technicals are bearish, the sector sees little near-term technical support, and the holiday could ...
Posted in Uncategorized | Comments Off on Three Year Note Preview
Wednesday, October 12th, 2016
Via Associated Press:
OPEC Output Rises, Complicating Cartel's Price-boosting Plan
2016-10-11 17:35:49.747 GMT
By ANGELA CHARLTON
Paris (AP) -- Oil production from OPEC nations hit a record
last month, according to an international energy group,
highlighting the cartel's challenge in trimming output to drive
up prices.
The International Energy Agency said Tuesday that
production from the Organization of the ...
Posted in Uncategorized | Comments Off on Surfeit of Petroleum
Wednesday, October 12th, 2016
Via Marc Chandler at Brown Brothers Harriman:
May Concedes to Parliament, Sterling Rises after Pounding
News that UK Prime Minister May has accepted that Parliament should vote on her plan for exiting the EU stopped sterling's headlong slide
The euro is grinding lower, and the main driver seems to be the ...
Posted in Uncategorized | Comments Off on FX
Wednesday, October 12th, 2016
Via WSJ:
By
Patricia Kowsmann
Oct. 11, 2016 4:21 p.m. ET
LISBON—With his company’s pottery selling briskly, Joaquim Beato, president of Molde Faianças SA, said ideally he would plow some of the profit into research and new-product development. Instead the company won’t spend a single euro.
Mr. Beato said he worries the ...
Posted in Uncategorized | Comments Off on Is Portugal on Verge of Another Debt Crisis?
Wednesday, October 12th, 2016
Via WSJ:
By
Erin Ailworth and
Ben Leubsdorf
Oct. 12, 2016 5:30 a.m. ET
HOUSTON—Texas helped lead the U.S. out of recession, thanks in part to the shale drilling revolution. But after more than two years of slumping oil prices, the state is now a sore spot for the national economy.
Petroleum prosperity helped ...
Posted in Uncategorized | Comments Off on Oil Price Crash Turns Texas Into Economic Depressant
Wednesday, October 12th, 2016
Via WSJ:
By Todd Buell
Updated Oct. 12, 2016 5:42 a.m. ET
0 COMMENTS
FRANKFURT—Germany may be Europe’s economic and political powerhouse, but you wouldn’t know it from its banks.
Deutsche Bank AG , Germany’s largest lender, is struggling with a litany of problems. It faces a multibillion-dollar settlement with the U.S. Justice Department over ...
Posted in Uncategorized | Comments Off on German Banking Problems
Wednesday, October 12th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h1181d1a3,18974d39,18974d3a&p1=136122&p2=83bea6fc1ba926a276ec8308dc9d2273>
Huge short positions and a consensus that sterling is doomed finally delivered a short-covering rally overnight. Labour are staging a commons debate today asking for MPs to have the right to scrutinise the government's plans to leave the EU and newswire reports last night suggest PM ...
Posted in Uncategorized | Comments Off on FX
Wednesday, October 12th, 2016
Via Bloomberg:
Fed watchers looking to tally hike support among non-voters
Critical debate likely to center on labor market, inflation
Minutes of the Federal Reserve’s September policy meeting could illuminate the degree of pressure Chair Janet Yellen faced from officials eager to raise interest rates, insights that could help guide expectations on the ...
Posted in Uncategorized | Comments Off on Fed Minutes