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Tag Archives: fixed income

Decade of debt…

From the FT … US GDP (purchasing power parity): $14.29 trillion (2008 est.) $14.11 trillion (2007) $13.83 trillion (2006) Well… inflation now?

Secondary markets for retail…

Explore Bonds wrote an excellent post titled: Where to Buy TIPS On the Secondary Market… this is very useful and practical advice about the mechanics of retail bond purchases… kudos to the blog author for aggregating the information. There is also much to reflect on in this post as it relates to market structure for fixed income securities […]

It’s all electronic…

Electronic Trading Takes Over, Block Trading Dries Up – From Sandler O’Neill Global Exchange & Electronic Trading Conference in New York, NY: Interview with ITG CEO Robert Gasser (Bloomberg News — running time 5:00 minutes) Mr. Gasser says the, “Buyside has been empowered to trade directly into the markets…”… this is a direct result of […]

in the long term savings will strengthen this country

Analysis and interview with Thomas Atteberry of First Pacific Advisors with take on the bond market saying this is one of the worst times to get in bond market. (Bloomberg News — running time ~~ 8:40 minutes)  Mr. Atteberry says… Stay liquid Preserve your capital Stay in shorter paper Stay in high quality paper “I’m […]

Le le le leverage

Analysis and discussion with Brad Hintz ,Analyst of Sanford C Bernstein talking about financials. He talks about leverage levels at Goldman Sachs and Morgan Stanley running around 13 times versus the 30-40 times levered pre commercial bank mutation…. Mr. Hintz previously served as the CFO of Lehman Brothers so I’m always very interested in his […]

Retail transparency

Online help for novice bond investors A Financial Q&A with Steve Dinnen. from the April 2, 2009 edition, Christian Science Monitor Q : I have had trouble finding a user-friendly bond site. I seem to keep getting sites where there are runs of transactions bought and sold in the past 12 hours. But I can’t […]

“move by industrials away from CP/money markets to the term markets”

An interview with Mark Bamford of Barclays Capital with his opinion after corporate bonds outperform stocks and treasuries. (Bloomberg News – running time 3:30 minutes) Money quote…. “there is a move by industrial (issuers) away from the short term funding… CP and money markets…. to the term markets…” There was very large issuance in the […]

the butterfly wings of market movement

Spreads have blown out in corporate bond markets… (thanks to EconompicData for the nice graph)… The big bank/broker dealers previously had used their giant balance sheets to dominate trading in these markets… think Citi, Morgan Stanley, Goldman, Merrill… Since the beginning of the Credit Crisis in August 2007 these dealers have had their position as […]

To TIP or not to TIP

Charles Diebel, at Nomura International in London, talks about TIPS and inflation, Treasury yields going forward, quantitative easing and the G20 meeting… (running time = 3 minutes)

Fixed income market baby steps

The fixed income markets have long been the domain of institutions… partly this is due to the cost of getting data and information related to fixed income… credit ratings… pricing data… security master data… it’s wonderful to see firms beginning to use the Internet to untangle, process and package information for this market… hopefully one […]