Monday, October 30, 2006

Musings on income growth

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It sure feels like there are two camps about where the economy is going, and incoming data is only causing parties in both camps to harden t...

Credit where credit is due

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Goldman Sachs, Merrill Lynch, and Bear Stearns all saw their credit rating upgraded by S&P on Friday . I've made no secret that I li...
Friday, October 27, 2006

Some REAL bond trader shit...

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On Wednesday I made an off-handed comment that I'd probably be moving to a more neutral position on MBS from an overweight. Steve Feiss...
1 comment:
Thursday, October 26, 2006

Suck out

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I'm not a big poker player, but I really enjoy the theories behind how the game is played. I think there are a lot of corollaries betwee...
2 comments:
Wednesday, October 25, 2006

Lonely morning on trading floors

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Not much to talk about in front of the Fed today. The market is very quiet waiting to see what the Fed statement will say. Probably not much...
Monday, October 23, 2006

What does Greg Ip have against the Treasury market anyway?

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Greg Ip of the Wall Street Journal, who is a long rumored Fed mouth piece, has a piece out today saying the Fed could go on hold much longer...

What does Greg Ip have against the Treasury market anyway?

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Greg Ip of the Wall Street Journal, who is a long rumored Fed mouth piece, has a piece out today saying the Fed could go on hold much longer...
Thursday, October 19, 2006

Homes in Hock

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Moody's Economy.com and Equifax reported that the percentage of home loans now delinquent has increased to 2.33% in the third quarter,...
Wednesday, October 18, 2006

Its bad, but not THAT bad! Part II

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A rebound in housing starts today has the bond market trading mildly weaker. This carries through on a theme I posted about yesterday, wher...
Tuesday, October 17, 2006

Its bad, but not THAT bad!

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The National Association of Home Builders released their monthly survey today . Its a simple survey that asks home builders to describe thei...
1 comment:

Data, data, and more data!

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Bonds are rallying today, up about 10 ticks on the 10-year. It looks like the reason is the whopping $117 billion in net foreign securities ...
Monday, October 16, 2006

Groundhog Day in Corporate Spreads

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Despite the much ballyhooed fears of corporate bond spreads widening, spreads have been extremely stable in 2006? How stable you ask? Look a...
Friday, October 13, 2006

Looking beyond the headline...

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Although at first blush, the retail sales report looks ugly, but it turns out that the entire decline is due to lower gas prices . This supp...
1 comment:
Thursday, October 12, 2006

Sherman threatens to burn down Greenwich too

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With not much happening in the bond market, I though I'd comment on the swirling debate about whether private equity companies may be br...
Wednesday, October 11, 2006

Minutes and Lacker

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The minutes of the September 20 FOMC meeting were released today. In my opinion, there isn't much here that wasn't already said in ...

Conspiracy!

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I'm a bit of a conspiracy theorist when it comes to the Fed. No, I don't think they create inflation to help out the rich or anythi...
1 comment:
Tuesday, October 10, 2006

What now?

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I had been arguing that the Treasury market had rallied too far too fast for several weeks now . I can't say "I was right" qui...

Jobs, Jobs, and more Jobs!

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The market sold off hard on Friday and is following through today, in large part on news that the Department of Labor is revising their est...

If you're Yellen.... from San Francisco

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Be sure to wear a flower in your hair... Nothin'? Tough crowd. Anyway, Janet Yellen of the San Francisco Fed spoke on her economic outlo...
Friday, October 06, 2006

Market takes weak NFP in stride

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The bond market is actually slightly lower after non-farm payroll growth came out at a meager 51,000 . Bloomberg had expected 120,000. There...