After the breakout in the TED with the european downgrades, we traded sideways how we like it before another breakout to the upside as the Shatz has reached a ceiling Yield wise. The majority of the bond moves are now on the long end as you would expect and as a result the curve has been flattening rapidly. Euribor spreads are flattening at an alarming rate too with dec12dec13 spread falling 10 fat ticks since yesterday morning. Although this was expected, it didn't do it straight away which gave us the false illusion that there wasn't much downside to go until the US markets opened and down hard it went.
For more TED spread commentary watch below:
Subscribe to:
Post Comments (Atom)
Front month WTI Futures plunges to negative $37 as storage costs rocket
It was a move of epic proportions in the front month WTI Crude futures, the significance of which is not really known of yet, but was incre...
-
Much has been said about the new phone and the response on the surface seems exactly how you would expect it to be. Regardless of what Appl...
-
Equities are continuing the weakness this week, and we breached 140 in the Bund, nearing record low yields in the German 10 year, as well as... -
In the previous ECB meeting we had a split decision on whether to cut rates further or not but today Mario Draghi said the council decided ...
No comments:
Post a Comment