Archive for November, 2016
Monday, November 28th, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Dealers Expect Over $20b of Issuance
2016-11-28 10:26:24.814 GMT
By Robert Elson
(Bloomberg) -- 69% of dealers and clients, in a Bloomberg
survey, expect IG issuance to exceed $20b this week; 33% expect
more than $25b, 10% over $30b.
* $65b priced in the 2 weeks following Thanksgiving last year;
in the week ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, November 28th, 2016
Via Bloomberg:
IG CREDIT: Lowest Trading Volume Since Christmas Eve
2016-11-28 10:43:15.144 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $1.6b Friday vs $8.4b Wednesday, $15.6b the previous
Friday. It was the lowest volume session since $990m on Dec. 24.
* 10-DMA $15.8b; 10-Friday moving avg $12b
* 144a trading added ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, November 28th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
There is growing confidence that the Federal Reserve will hike rates next month, and more next year
This week's US data is unlikely to alter views but may strengthen the appreciation of the solid economic performance since struggling ...
Posted in Uncategorized | Comments Off on More FX
Monday, November 28th, 2016
Via Kit Juckes at SocGen:
FX daily link below, mostly thoughts on EUR/USD after the French Republican Primary and ahead of the Italian referendum this weekend. The broader theme is month-end position-lightening, which is correcting some over-bought USD positions. A glance at a chart of USD/JPY and its 9-day RSI (relative ...
Posted in Uncategorized | Comments Off on FX
Monday, November 21st, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The news over the weekend is primarily political in nature
Investors see two trends which could very well portend a changing paradigm
The Federal Reserve was poised to hike rates next month regardless of the electoral outcome.
The ...
Posted in Uncategorized | Comments Off on FX
Monday, November 21st, 2016
Via Bloomberg:
IG CREDIT: Mix of 10Y Issues Topped Most Active List
2016-11-21 10:51:02.685 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $15.6b Friday vs $20.1b Thursday.
* 144a trading added $3b of IG volume Friday vs $3.6b on
Thursday
* Trace most active issues longer than 2 years:
* NWL 4.20% ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Monday, November 21st, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Holiday Week Means Less Volume Likely
2016-11-21 10:27:12.799 GMT
By Robert Elson
(Bloomberg) -- 84% of dealers and clients, in a Bloomberg
survey, expect IG issuance to be no greater than $15b this week.
Just 4% expect $25b or more. The difference in expectations may
be associated with one large M&A-related type ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, November 21st, 2016
Via Bloomberg:
Higher bond yields will boost funded ratios for pension funds
Low rates ‘just not right in today’s economy,’ BlackRock says
In the wake of Donald Trump’s victory, much has been made about the stunning selloff in the U.S. bond market.
Traders have described it as a bloodbath and a seismic ...
Posted in Uncategorized | 1 Comment »
Monday, November 21st, 2016
Via WSJ:
By
Nick Timiraos
Updated Nov. 20, 2016 7:17 p.m. ET
Donald Trump’s economic team splits neatly into two major groups over a fundamental question: Would the economy benefit most from more carrots or more sticks?
Mr. Trump captured the presidency with a small coterie of advisers whose public views diverge ...
Posted in Uncategorized | Comments Off on Trump’s Advisors Policy Divide
Monday, November 21st, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h11d058a1,1915471b,1915471c&p1=136122&p2=748b21c8d1a1d161f0a9a83b74e0f013>
The first round of the French Republican Party primaries saw Nicolas Sarkozy knocked out and Francois Fillon go into the second round with Alain Juppe after getting 44% of the vote. That will leave him firm favourite, not just for his party's nomination but also for ...
Posted in Uncategorized | Comments Off on Early FX