I will be travelling up and down the west coast this week so commentaries will be slightly sporadic. First things first, the new Global Fixed Income Monthly is attached. We have added a few new things to the mix – specifically peripheral European bond forecasts and...
I will start today’s commentary the way I ended yesterday’s – “I see no value in buying these US 30yrs....” I wish I could point to a catalyst for yesterday’s selloff, but I doubt there is any single driver. Certainly I do not see anything fundamental - rather, I see...
I have neglected the US mortgage market recently with all of the insanity coming from Europe. I am going to rectify that today. Granted, there has not been too much too discuss with current coupon mortgage rate spreads to 10yr USTs between 90 and 70 for the last...
The last few days have felt somewhat apathetic in markets. With almost no new information of relevance to chew on, analysts have reached deep into uneventful Bernanke speeches, regurgitated Hoenig comments, fringe data in China and Swiss intervention mechanics to look...
Are things that bad that we needed to take 10s to 3.16 and spoos to 1051 in Asia last night? No!!!! But the news in Europe continues to drive panicky and illiquid trading. The market remains on edge with regards to European bank exposures in Central Europe and PIIGS....
Are things that bad that we needed to take 10s to 3.16 and spoos to 1051 in Asia last night? No!!!! But the news in Europe continues to drive panicky and illiquid trading. The market remains on edge with regards to European bank exposures in Central Europe and PIIGS. Hungary is the latest driver that […]
