Hopefully, everyone has copy of the new monthly. As discussed in that document, we see the next 3 months as calm for fixed income. Nonetheless, we will no doubt have some “in range fireworks” as we did last week. Over the last 5 trading days, we went from 2.78 to 2.83...
Brian Sack (aka mini-Ben) gave a speech last night reiterating the basic exit structure put forth by the Chairman in February. There was little new in the speech, but there are a few parts worth repeating here as we enter the battle zone on asset sales between the...
It’s a calm start to the week with 10s firmly in the middle of a very tight long term range - 3.60/3.80. “Roll adjusted”, 5s30s is starting the week at the all-time highs of 231 and 2s10s is about 5bps off its record highs at 281. I see very little on the immediate...
I have been visiting the ECB since Thursday hence the lack of commentary since Wednesday. Here are a few quick thoughts as I jump back in front of the screens. As discussed Wednesday, playing the range is the best game in town. 10s are now back towards 3.70 and vol...
I have been visiting the ECB since Thursday hence the lack of commentary since Wednesday. Here are a few quick thoughts as I jump back in front of the screens. As discussed Wednesday, playing the range is the best game in town. 10s are now back towards 3.70 and vol has been properly taken out […]
