Archive for December, 2016
Monday, December 12th, 2016
Via Bloomberg:
China’s Stocks, Bonds, Yuan Slump in Unison on Liquidity Concern
Bloomberg News
December 12, 2016 — 3:20 AM EST
Shanghai Composite Index retreats most in six months
One-year sovereign debt yield increases 15 basis points
Unease is once again permeating China’s financial markets.
The Shanghai Composite Index sank 2.5 percent at the close, ...
Posted in Uncategorized | Comments Off on Problems in China
Monday, December 12th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The FOMC meeting is the last big event of the year for investors
The Bank of England, the Swiss National Bank, and Norway's Norges Bank hold policy meetings; none are likely to alter policy
Given last week's ECB ...
Posted in Uncategorized | Comments Off on More FX
Monday, December 12th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h11f12644,194c4423,194c4424&p1=136122&p2=6126320e1f3ab288c34430954b4a8d32>
I do hope there aren't short-covering cannon to the left and the right of this market.... Bloomberg puts the (market-implied) odds of a 25bp Fed rate hike this week at 92% and the odds of a 50bp hike at 8%. It's fair to say that a ...
Posted in Uncategorized | Comments Off on Early FX
Sunday, December 11th, 2016
Via WSJ:
By
Takashi Nakamichi
Updated Dec. 11, 2016 7:43 p.m. ET
2 COMMENTS
One of central banking’s most aggressive easers—the Bank of Japan—may soon have to think about tightening for the first time since 2007.
The latest buzz in Japanese monetary-policy circles is that the BOJ may have to lift the ...
Posted in Uncategorized | Comments Off on Japanese Dilemna
Sunday, December 11th, 2016
Via Bloomberg:
U.S. Limits on Wall Street Bonuses Appear Doomed Ahead of Trump
by
Jesse Hamilton
and
Benjamin Bain
December 9, 2016 — 12:59 PM EST December 9, 2016 — 12:59 PM EST
Obscure regulator of credit unions said to be hurdle for rules
New restrictions clash with Trump pledge to rip up Dodd-Frank
For years the ...
Posted in Uncategorized | Comments Off on Good News for Mercedes Benz of Greenwich
Sunday, December 11th, 2016
Via the WSJ:
By
Jason Douglas and
Jon Sindreu
Dec. 11, 2016 12:17 p.m. ET
In steering their economies, central bankers are guided by a mysterious, hidden interest rate that critics say could be a figment of their imagination.
Major central banks across the globe have taken short-term policy rates to record lows ...
Posted in Uncategorized | Comments Off on Debating the Natural Rate
Monday, December 5th, 2016
Via Blomberg:
Treasury May Extend Maturity Before Ultra Bond Debut: Wrightson
2016-12-05 19:30:14.718 GMT
By Alexandra Harris
(Bloomberg) -- Treasury can increase 10Y, 30Y auctions
while it works out the specifics of 50Y or 70Y offerings to get
a head start on extending the average maturity of its debt,
Wrightson ICAP economist Lou Crandall says in note.
* ...
Posted in Uncategorized | Comments Off on Very Long Bonds
Monday, December 5th, 2016
An excerpt from the morning note of Chris Low at FTN Financial:
Venezuela, whose bold experiment with Bolivaran Socialism has resulted in terrible shortages and such rampant inflation that people have ditched wallets in favor of bags of cash and storekeepers—when they have anything to sell—have taken to weighing notes rather ...
Posted in Uncategorized | Comments Off on No Wheelbarrows Needed Here