Saturday, September 14, 2013

What's driving VIX futures spread higher?

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The focus is on the FOMC meeting this coming week. Market participants, economists, the public  - all want to know if the "taper...

Canadian household leverage still growing

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As discussed a few months back ( see post ), Canadian households continue amass higher levels of debt. At this point in the cycle, consume...
Friday, September 13, 2013

Is mitigation of rate risk worth buying HY loans at sub-5% yield?

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Demand for leveraged (sub-investment grade) corporate loans remains strong. Investors are paying a premium for floating rate (LIBOR+spread...
Wednesday, September 11, 2013

Gold demand from Asia offsets ETF selling

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Gold ETFs have seen significant outflows since March,  as investors concerned about tighter monetary conditions and rising real rates, hav...

Refinancing collapse resulting in bank job losses

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The Mortgage Bankers Association's refinance index fell by 28% over the past week, as the refi gravy train came to a screeching halt. ...
Tuesday, September 10, 2013

The US Northeast region struggling with job growth

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The US Northeast had weathered the Great Recession a bit better than the rest of the nation. In particular the region's labor market w...

French growth still lagging; is economic improvement on the way?

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France is having a difficult time generating economic growth. While PMI indicators show signs of stabilization, economic data in general h...
Monday, September 9, 2013

What caused the belly of the treasury curve to become more volatile?

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While yields on treasury notes and bonds have risen across the board in 2013, the jump in rates has been uneven. The 5-10-year rates - the...