The coming inflation addiction

Apr 11, 2011

The following note will appear in the Treasury Market Strategy section of our April Global Fixed Income Monthly that goes to publication today. I thought I would send it now as a preview. Good luck trading! The coming inflation addition – The past month felt like...

Same old story, same old song and dance…my friend

Apr 8, 2011

Here are the current distances from the February highs in equities and yields US 5s - 7bps below US 10s - 15bps below US30s – 10bps below Bunds – 15bps ABOVE Spoo - 0.5% below DAX – 3% below There was plenty of rumbling about a month ago about how we had seen the high...

ECB thoughts….

Apr 7, 2011

We have moved from "strong vigilance" to "monitor very closely". It’s certainly a softer statement than many (including myself) thought. Euro off and Bunds higher seem the obvious first response. But that said, the ECB is not shy about stating that interest rates...

The ECB and the IOER/FF spread

Apr 6, 2011

The single most important market event this week will be JCT’s press conference tomorrow morning. Will he say “strong vigilance” again? Will it be just “vigilance”? Or will we be treated to some new language concept just to obfuscate things further? Also, we will get...

Vote for Pedro

Apr 5, 2011

For those that never saw the movie Napoleon Dynamite, today’s title may be confusing. This movie is an American “cult classic” about some quirky teenagers (Napoleon and Pedro) that run a campaign for high school class president against the very popular Summer...