Archive for November, 2016
Thursday, November 17th, 2016
Via Bloomberg:
IG CREDIT: Volume Remains High; Issuance Will Be Focus Today
2016-11-17 10:41:48.24 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $19.2b vs $20.3b Tuesday, $20.2b last Wednesday.
* 14th highest of any Wednesday since Nov. 2005 when TRACE
volume count began
* Tuesday’s $20.3b was 5th highest Tuesday on ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, November 17th, 2016
Via Bloomberg:
Benchmark yields had climbed at fastest pace since August
10-year touched 0.035%, the first time since mid-February
The Bank of Japan fired a warning shot at the government bond market Thursday, announcing its first offer to buy an unlimited amount of securities to maintain its yield-curve target.
The so-called fixed-rate operation ...
Posted in Uncategorized | Comments Off on BOJ Fires Warning Shot at Bond Bears
Wednesday, November 16th, 2016
Via Bloomberg:
Trump Allies Urge Fed to Cut Balance Sheet and Revive Credit (1)
2016-11-16 12:27:08.216 GMT
By Rich Miller
(Bloomberg) -- Bond investors may have another reason to
worry after Donald Trump’s election last week: Some of his
allies are not fans of the Federal Reserve’s big balance sheet
of bonds and want the central bank ...
Posted in Uncategorized | Comments Off on Trump Advisers Favor Shrinking Fed Balance Sheet
Wednesday, November 16th, 2016
Via Bloomberg:
China's U.S. Treasuries Holdings Decline
Biggest holder of American govt debt held $1.16 Tln in Sept.
Japanese holdings fell for second straight month to $1.14 Tln
China’s holdings of U.S. Treasuries declined to the lowest level in four years, as the world’s second-largest economy runs down its reserves to support ...
Posted in Uncategorized | Comments Off on China Holdings of Treasuries Slide
Wednesday, November 16th, 2016
Interesting article by Professor Tim Duy:
What a Trump-Branded Federal Reserve Might Look Like
An Austrian (economist) in the White House.
Timothy A Duy TimDuy
November 16, 2016 — 6:00 AM EST
President-elect Donald Trump has the opportunity to remake the Federal Reserve.
Or does he? And if he does, what would ...
Posted in Uncategorized | Comments Off on Can President Trump Remake the Fed
Wednesday, November 16th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
The PPI was much weaker than expected in October, as the headline figure was flat and the core component posted a 0.2% decline. However, when I delved into the nitty-gritty details, it was hard to put a finger on any meaningful trends in the ...
Posted in Uncategorized | Comments Off on PPI/CPI
Wednesday, November 16th, 2016
Via Stephen Stanley at Amherst Pierpont Securities::
Industrial production was flat in October, weaker than expected. Manufacturing output advanced by 0.2%, not far from expectations, but a 2.6% drop in utilities, presumably due to warmer-than-usual weather, dragged the aggregate down. There were big offsetting revisions (up in August and down in ...
Posted in Uncategorized | Comments Off on IP Review
Tuesday, November 15th, 2016
Via Bloomberg:
November 15, 2016 — 4:00 PM EST
Broad loan-to-deposit ratio at 80% for top 50 China banks: S&P
China’s credit reliance could worsen NPL problem, Fitch says
Add another credit indicator to the financial warning signs flashing in China.
The adjusted loan-to-deposit ratio, which includes a range of off-balance sheet items ...
Posted in Uncategorized | Comments Off on Credit Angst in China
Tuesday, November 15th, 2016
Via WSJ:
By
Peter Grant
Updated Nov. 15, 2016 2:44 p.m. ET
1
Defaults are rising in a key corner of the commercial real-estate debt market just as borrowing costs are set to jump, raising the likelihood of a slowdown of the $11 trillion U.S. commercial property sector in 2017.
A financial ...
Posted in Uncategorized | Comments Off on Commercial Real Estate Angst
Tuesday, November 15th, 2016
Latest forecast from FRB Atlanta:
Latest forecast: 3.3 percent — November 15, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 3.3 percent on November 15, up from 3.1 percent on November 9. The forecast of fourth-quarter real personal consumption expenditures ...
Posted in Uncategorized | Comments Off on GDP Now