Archive for January, 2017
Friday, January 27th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
Given the extreme optimism illustrated by the University of Michigan sentiment figures (as well as other measures of consumer confidence), I thought it might be a good time to look under the hood at what may be driving consumer attitudes. Clearly, the election was ...
Posted in Uncategorized | Comments Off on Consumer Sentiment Dissected
Wednesday, January 18th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
Industrial production surged in December by 0.8%, mainly driven by a weather-induced 6.6% rebound in utility usage. In fact, the utility category has been driving the headline figures for several months. In contrast, manufacturing output has been on a steadier but glacial uptrend. Factory ...
Posted in Uncategorized | Comments Off on IP Dissected
Wednesday, January 18th, 2017
Via TDSecurities:
US: Inflation Breaks 2% On Energy and Core Services
· December CPI accelerated to 2.1% y/y in line with expectations, boosted by gasoline prices and a solid 0.2% m/m print in the core (ex food & energy) index. The latter pushed up the core inflation rate back to 2.2% ...
Posted in Uncategorized | Comments Off on CPI Dissected
Tuesday, January 17th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Trump's Comments Send the Dollar Reeling
In a WSJ interview, Trump pushes against GOP border adjustment plan and warns the dollar is already too strong.
Details of UK's May Brexit speech has already been provided via advanced extracts. Sterling recovers from yesterday's slide
...
Posted in Uncategorized | Comments Off on FX
Monday, January 16th, 2017
Via Marc Chandler at Brown Brothers Harriman;
Drivers for the Week Ahead
May's Brexit speech on January 17
ECB meeting on January 19
Trump's inauguration as 45th US President on January 20
Bank of Canada meets
China's President Xi to address Davos
Sterling's drop through $1.20 in Asia in response to additional ...
Posted in Uncategorized | Comments Off on FX
Monday, January 9th, 2017
This is an excerpt from a longer Bloomberg story:
“If the 10-year breaks 2.6 percent on a weekly or on a monthly basis, because it’s so strong and so important in terms of technical analysis, that if and when it’s broken on the upside, it’s a bear market,” Gross, who manages the ...
Posted in Uncategorized | 2 Comments »
Monday, January 9th, 2017
Via Bloomberg:
Don’t Worry Bond Investors, Baby Boomers Have Got Your Back
by
Natasha Doff
January 9, 2017, 5:30 AM EST
HSBC report sees aging population supporting demand for bonds
Debt already accounts for more than half of pension holdings
Investors mourning the end of a 30-year bull market in U.S. Treasuries can take ...
Posted in Uncategorized | 1 Comment »
Monday, January 9th, 2017
Via Bob Elson at Bloomberg:
IG CREDIT PIPELINE: TD to Price, IADB, KOMINS Mandates Added
2017-01-09 10:39:10.53 GMT
By Robert Elson
(Bloomberg) -- Set to price today:
* Toronto-Dominion Bank (TD) Aaa/AAA, to price $benchmark
144a/Reg-S 5Y Covered Bond, via managers BMO/BNP/GS/HSBC/TD;
IPT MS +Low-60s
* Added today:
* Kommuninvest (KOMINS) Aaa/AAA, mandates BNP/BAML/Nom/TD
to manage a forthcoming $benchmark 144a/Reg-S ...
Posted in Uncategorized | Comments Off on Corporate Bond Pipeline
Monday, January 9th, 2017
Via WSJ:
Sterling Falls on Theresa May’s Brexit Comments
The prime minister said the U.K. would aim for a clean break from the EU
By
Mike Bird
Jan. 9, 2017 6:13 a.m. ET
The pound fell sharply against the dollar and euro Monday after U.K. Prime Minister Theresa May said Britain would make a definitive break from ...
Posted in Uncategorized | Comments Off on Sterling Falls on Prospect of Hard Brexit
Monday, January 9th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Drivers in the Week Ahead
US retail sales late in the week is the main data feature this week
The short squeeze in the Chinese yuan appears to have ended
UK Prime Minister May comments suggest hard Brexit, which weighs on sterling
Brazil is ...
Posted in Uncategorized | Comments Off on Early FX