Soaring U.S. Corporate Bond Issuance — The Good, The Bad And The Ugly

posted in: Commodities, Credit, Economy | 0

U.S. corporate bond issuance is on track for yet another record year this year. In the first half, issuance totaled $877.7 billion, comprised of $697.8 billion in investment-grade and $179.9 billion in high-yield.  Annualized, both categories, as well as the … Continued

Weekly Covered Call Post-GLD Breakdown

The yellow metal cannot catch a break. GLD, the SPDR Gold ETF, broke down last week, losing eight-month support at $110.  The corresponding support on spot gold lies around $1,140.  Friday, gold closed at $1,132.20 and GLD at $108.65. The … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of July 14, 2015.  Change is week-over-week. 10-year note: Fed Chair Janet Yellen during her mid-week Humphrey-Hawkins testimony reiterated her desire to hike interest rates later this year, if data cooperate.  On … Continued

Weekly Cash-Secured Put On TLT

posted in: Credit, Derivatives, Technicals | 0

As expected, Fed Chair Janet Yellen, in her Humphrey-Hawkins testimony yesterday, reiterated what she, and other Fed officials, have been saying for a while.  They are data dependent, and if data cooperate, a rate hike is coming later this year.  … Continued

COT: Peek Into Future Through Futures

The following are futures positions of non-commercials as of July 7, 2015.  Change is week-over-week. 10-year note: After the June FOMC minutes were released, investors pushed back expectations for the first interest rate hike to March next year.  The minutes … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of June 23, 2015.  Change is week-over-week. 10-year note: Yields pushed up nearly 21 basis points for the week.  Sales of both new and existing homes did well in May (even though … Continued

FXE Looks Fatigued Near-Term — Options For Income Generation

The Friday before January 25th Greek elections, the euro closed at $1.123.  Yesterday, one euro bought $1.133. Since anti-austerity Syriza party swept to victory late January in Greece, the euro – by default FXE, the Currency Shares Euro Trust ETF … Continued

Peek Into Future Through Futures

The following are futures positions of non-commercials as of June 16, 2015.  Change is week-over-week. 10-year note: Let us see if we can make some sense out of this week’s major developments.  The FOMC met, and it looked like members … Continued

Odds Of IWM Breakout Suspect As KBE Gives Out Signs Of Fatigue

posted in: Credit, Economy, Equities, Technicals | 0

Is the Fed about to make a mistake? Post-FOMC meeting yesterday, the Fed’s ‘dot plot’ suggested a majority of policymakers were leaving the door open for two rate hikes in 2015.  After the release of the statement, TLT, the iShares … Continued