Fleursdumal
फूल की बुराई
well il T-Bond ha rotto i massimi di ieri, il 10y t-note di nuovo su r2 alle prese col gap
fiorentina-roma 1-0 primo tempo e l'incubo continua
8)
fiorentina-roma 1-0 primo tempo e l'incubo continua
8)
BUND, T-BRONX, T-NOTE ... e compagnia bella (V.M. 78 Anni)
- Creatore Discussione ditropan
- Data di Inizio
Fleursdumal
फूल की बुराई
US Treasuries rally as investors re-think risk
(Adds oil jump, updates prices)
By Wayne Cole
NEW YORK, March 16 (Reuters) - U.S. Treasury debt prices rallied on Wednesday, winning a reprieve from recent selling pressure after a profit warning by General Motors <GM.N> hit equities and the corporate bond market.
Traders said investors worried they were not being paid enough for the risks they were taking given spreads on corporate debt had been around historic lows for months now. As spreads widened sharply after the GM news, some were shifting funds to relatively safer Treasuries.
"We're seeing a re-pricing of risk across the whole credit sector," said Sadakichi Robbins, head of global fixed-income trading at Bank Julius Baer.
He noted the GM news came at a time when the market was deeply short of Treasuries and the resulting pop in prices triggered technical and momentum buying.
As a result, the benchmark 10-year Treasury note <US10YT=RR> climbed 17/32 in price. Its yield dipped to 4.48 percent from 4.55 percent late Tuesday and away from a seven-month peak of 4.58 percent hit early in the week.
GM said said it now expects a first-quarter loss reflecting lower North American sales and production volumes and a tougher pricing environment. Previously it had expected to break even.
The news hurt corporate bonds, with S&P changing its outlook on GM to negative and warning it could downgrade GM to junk status at any time if it looked like the world's largest car maker was not on track to improve its financial performance in 2006 and beyond.
It also sent equities <.DJI> slipping, a fall later exacerbated by a spike in crude oil prices <0#CL:> above $56 billion a barrel.
Higher energy prices are considered a mixed bag for bonds since they act as a tax on the consumer but could also add to inflationary pressures. In this case, bond investors seemed to focus on the blow to equities and the potential drag on consumers and bid Treasuries higher.
There was even speculation among traders that GM's woes could convince the Federal Reserve to hike interest rates at a slower pace or to stop at a lower level than previously planned.
But analysts seriously doubted the Fed's plans would be affected by a single company, even one as big as GM.
"The Fed would only pause on the GM news if there were some indication that the news threatens the health of the economy as a whole or the health of the financial markets as a whole," said Chris Low, chief economist at FTN Financial.
If there were signs of major dislocations, such a sharp widening in risk spreads, then the Fed could chose not to hike at its policy meeting next week, he said.
"But as long as trading remains relatively orderly, the FOMC will stick to its game plan and raise rates by another quarter point," said Low.
Still, just the chance of a less aggressive Fed helped two-year Treasury notes <US2YT=RR> jump 5/32 in price, lowering yields to 3.67 percent from 3.75 percent late Tuesday. The five-year note <US5YT=RR> rose 14/32, taking its yield to 4.13 percent from 4.23 percent.
The 30-year bond <US30YT=RR> leaped 25/32, taking yields to 4.78 percent from 4.83 percent.
The GM news overshadowed data showing the U.S. current account deficit widened to a record $187.9 billion last quarter. That equates to an annualized 6.2 percent of gross domestic product, stirring worries about how long such massive borrowing could be sustained.
A separate release also showed spare U.S. factories, utilities and mines were running at 79.4 percent of total capacity, its highest level since late 2000. That remains below levels historically associated with inflation but the rising trend will only add to worries about future price pressures.
(Adds oil jump, updates prices)
By Wayne Cole
NEW YORK, March 16 (Reuters) - U.S. Treasury debt prices rallied on Wednesday, winning a reprieve from recent selling pressure after a profit warning by General Motors <GM.N> hit equities and the corporate bond market.
Traders said investors worried they were not being paid enough for the risks they were taking given spreads on corporate debt had been around historic lows for months now. As spreads widened sharply after the GM news, some were shifting funds to relatively safer Treasuries.
"We're seeing a re-pricing of risk across the whole credit sector," said Sadakichi Robbins, head of global fixed-income trading at Bank Julius Baer.
He noted the GM news came at a time when the market was deeply short of Treasuries and the resulting pop in prices triggered technical and momentum buying.
As a result, the benchmark 10-year Treasury note <US10YT=RR> climbed 17/32 in price. Its yield dipped to 4.48 percent from 4.55 percent late Tuesday and away from a seven-month peak of 4.58 percent hit early in the week.
GM said said it now expects a first-quarter loss reflecting lower North American sales and production volumes and a tougher pricing environment. Previously it had expected to break even.
The news hurt corporate bonds, with S&P changing its outlook on GM to negative and warning it could downgrade GM to junk status at any time if it looked like the world's largest car maker was not on track to improve its financial performance in 2006 and beyond.
It also sent equities <.DJI> slipping, a fall later exacerbated by a spike in crude oil prices <0#CL:> above $56 billion a barrel.
Higher energy prices are considered a mixed bag for bonds since they act as a tax on the consumer but could also add to inflationary pressures. In this case, bond investors seemed to focus on the blow to equities and the potential drag on consumers and bid Treasuries higher.
There was even speculation among traders that GM's woes could convince the Federal Reserve to hike interest rates at a slower pace or to stop at a lower level than previously planned.
But analysts seriously doubted the Fed's plans would be affected by a single company, even one as big as GM.
"The Fed would only pause on the GM news if there were some indication that the news threatens the health of the economy as a whole or the health of the financial markets as a whole," said Chris Low, chief economist at FTN Financial.
If there were signs of major dislocations, such a sharp widening in risk spreads, then the Fed could chose not to hike at its policy meeting next week, he said.
"But as long as trading remains relatively orderly, the FOMC will stick to its game plan and raise rates by another quarter point," said Low.
Still, just the chance of a less aggressive Fed helped two-year Treasury notes <US2YT=RR> jump 5/32 in price, lowering yields to 3.67 percent from 3.75 percent late Tuesday. The five-year note <US5YT=RR> rose 14/32, taking its yield to 4.13 percent from 4.23 percent.
The 30-year bond <US30YT=RR> leaped 25/32, taking yields to 4.78 percent from 4.83 percent.
The GM news overshadowed data showing the U.S. current account deficit widened to a record $187.9 billion last quarter. That equates to an annualized 6.2 percent of gross domestic product, stirring worries about how long such massive borrowing could be sustained.
A separate release also showed spare U.S. factories, utilities and mines were running at 79.4 percent of total capacity, its highest level since late 2000. That remains below levels historically associated with inflation but the rising trend will only add to worries about future price pressures.
Fleursdumal
फूल की बुराई
f4f ha scritto:
se mi va ... forse... forse.....
ciauzzgastronomo
Forumer storico
f4f ha scritto:
Ciao Avv., occhio che faccio l'arbitro come quelli che si sceglie la vecchia signora
...
Fleursdumal
फूल की बुराई
Camillot Ammazzadraghi era un cavaliere di Re Artù e aveva una particolare
ossessione per le bellissime tette di Ginevra, ben sapendo che se le avesse
toccate sarebbe stato messo a morte.
Un giorno Camillot rivelò il suo desiderio segreto a Mago Merlino che ebbe
una soluzione per soddisfare il suo lussurioso desiderio, ma gli disse che
gli sarebbe costato 1000 monete d'oro.
Cammillot accettò senza esitazione! Il giorno dopo, mago Merlino preparò un
sacchetto di polvere urticante e ne mise un po' nel reggiseno della regina
Ginevra mentre lei stava facendo il bagno.
Non appena la regina si rivestì iniziò a sentir prudere sempre di più!
Re Artù allora convocò il Mago Merlino per chiedergli un rimedio e questi
rispose che solo una speciale saliva applicata per 4 ore poteva curare
questo terribile prurito e i test svolti dal Mago rivelavano che solo la
saliva di Camillot Ammazzadraghi avrebbe funzionato.
Il Re chiamò subito Camillot, che si era appena messo in bocca l'antidoto
alla polvere urticante...
E così Camillot Ammazzadraghi leccò per ore le tette che aveva sempre
sognato e venne pure festeggiato dalla corte come un eroe!
Prima di tornare alle proprie stanze Camillot venne fermato da Merlino che
gli ricordò il debito di 1000 monete d'oro.
Camillot, ormai soddisfatto, si rifiutò di pagare, perché tanto il Mago non
avrebbe potuto confessare in quanto complice del suo inganno.
Il giorno dopo il mago Merlino mise un bel po' di polvere urticante nelle
mutande del Re...
ossessione per le bellissime tette di Ginevra, ben sapendo che se le avesse
toccate sarebbe stato messo a morte.
Un giorno Camillot rivelò il suo desiderio segreto a Mago Merlino che ebbe
una soluzione per soddisfare il suo lussurioso desiderio, ma gli disse che
gli sarebbe costato 1000 monete d'oro.
Cammillot accettò senza esitazione! Il giorno dopo, mago Merlino preparò un
sacchetto di polvere urticante e ne mise un po' nel reggiseno della regina
Ginevra mentre lei stava facendo il bagno.
Non appena la regina si rivestì iniziò a sentir prudere sempre di più!
Re Artù allora convocò il Mago Merlino per chiedergli un rimedio e questi
rispose che solo una speciale saliva applicata per 4 ore poteva curare
questo terribile prurito e i test svolti dal Mago rivelavano che solo la
saliva di Camillot Ammazzadraghi avrebbe funzionato.
Il Re chiamò subito Camillot, che si era appena messo in bocca l'antidoto
alla polvere urticante...
E così Camillot Ammazzadraghi leccò per ore le tette che aveva sempre
sognato e venne pure festeggiato dalla corte come un eroe!
Prima di tornare alle proprie stanze Camillot venne fermato da Merlino che
gli ricordò il debito di 1000 monete d'oro.
Camillot, ormai soddisfatto, si rifiutò di pagare, perché tanto il Mago non
avrebbe potuto confessare in quanto complice del suo inganno.
Il giorno dopo il mago Merlino mise un bel po' di polvere urticante nelle
mutande del Re...
gastronomo
Forumer storico
pacta servanda sunt 
gastronomo
Forumer storico
Buongiorno a tutti 
,
livelli sul bund per oggi
r3 119.59
r2 118.74
r1 118.45
pivot 117.89
s1 117.60
s2 117.04
s3 116.19
,livelli sul bund per oggi
r3 119.59
r2 118.74
r1 118.45
pivot 117.89
s1 117.60
s2 117.04
s3 116.19
gastronomo
Forumer storico
Chiuso i 2 lotti a .14 - aspettiamo i dati di oggi, molto sospetto il movimento "asiatico" del Treasury, la voglia ora sarebbe di girarmi corto ma aspetto 
Similar threads
