Steven Major of HSBC talks about index linked securities, says the central banks are trying to reflate, reflate, reflate… cenbanks are undertaking a deflationary strategy …he is concerned about gross government bond issuance… Steven is known for making strong directional calls… I worked with him at ING Barings… (running time ~ 6 min)
Saturday, November 22, 2008
The fixed income underwriting league tables… through Q3 - 08 as compiled by Bloomberg… see especially pages 7 and 8 for US bonds and US agency underwriting…
Friday, November 21, 2008
Andrew Popper, Chief Investment Officer of SG Hambros, discusses the potential fate of Citigroup and conditions in the financial markets. He sees more value in bonds, specifically high quality corporate names… (running time = 4:44)
Tuesday, November 11, 2008
The U.S. government is auctioning $55 billion in debt refunding to help pay for programs initiated to boost the economy. Gary Schlossberg, economist at Wells Capital Management, discusses the potential effects with Stacey Delo. (running time ~ 2 minutes)
Saturday, October 11, 2008
“The wise man bridges the gap by laying out the path by means of which he can get from where he is to where he wants to go.”
+ + John Pierpont Morgan + +
I’m giving a talk in Washington this week entitled… “U.S. Bond Market Basics & Recent Events“… timely…
I’ve been developing some thoughts about [...]
Filed in Liquidity, Pricing, Regulatory, Restructuring, Trading
|
Also tagged ATS, Bear, clearing, Congress, exchange, Federal Reserve, fixed income, Goldman Sachs, Lehman, Morgan Stanley, municipal, OTC, ratings, SEC, securities, TRACE, Trading, Treasuries, Treasury
|
Message from Investment Committee of the Diocesan Trustees
~~~~ “In March 2003, the Investment Committee sent a letter to vestries as the Standard & Poor’s 500 Index was nearing a 50% decline that had started over two years before from record highs.
At that time the Committee’s communication said in part:
We are writing this statement to reassure [...]
Thursday, October 9, 2008
~
10/09/2008
16:03:48
T
15000
54.000
22.275
10/09/2008
16:03:37
T
15000
54.000
22.275
10/09/2008
13:11:30
T
25000
58.500
19.942
10/09/2008
13:11:04
T
100000
67.500
15.873
10/09/2008
13:09:14
T
1000000
67.500
15.873
10/09/2008
13:09:14
C
1000000
67.500
15.873
10/09/2008
12:59:07
T
5MM+
64.000
17.372
10/09/2008
12:34:05
T
10000
57.000
20.694
10/09/2008
12:34:05
T
10000
57.000
20.694
10/09/2008
12:29:00
T
5000
60.000
19.213
This is the trade data from TRACE on Morgan Stanley’s ‘13 coupon 5.30%… this is the last 10 trades for today… the red bolded data is the yield… this is truly ugly for a corporate issuer who is rated A1, A+, AA-… everyone talks about the CDS gapping out but here is trade data on [...]
No one wants to make markets… for munis…
The big dealers are balance sheet constrained and the regional dealers are having trouble financing their inventory by the banks…
Maybe this is the type of situation that helps push this market towards exchanges… more trading on an agency basis where the dealer just puts the buyer and seller together… and the [...]
~~~~ ” I want to speak about bodies changed into new forms. You, gods, since you are the ones who alter these, and all other things, inspire my attempt, and spin out a continuous thread of words, from the world’s first origins to my own time.
Before there was earth or sea or the sky that [...]