Week of October 30, 2011 thru November 5, 2011

US Credit Default Swaps: Mkts At The Mercy Of Overseas Event


CHICAGO, Nov 4 (MNI) - The benchmark index on U.S. investment grade credit default swaps was wider Friday, remaining closely tied to the goings on in Europe.

US Credit Default Swaps: Mkts At The Mercy Of Overseas Event


CHICAGO, Nov 4 (MNI) - The benchmark index on U.S. investment grade credit default swaps was wider Friday, remaining closely tied to the goings on in Europe.

Headline news ahead of the weekend was grim. The credit markets head into the weekend with no concise agreement from the G20 on the EFSF and or IMF resources to tackle the crisis.

Furthermore, Italy was under pressure after Italian Prime Minister Berlusconi faced further calls from rebel deputies to resign and also after six lawmakers in the lower house of Parliament defected to the opposition. This now increases uncertainty ahead of the parliamentary vote scheduled Tuesday next week to sign off the 2010 budget, given Berlusconi's thin majority in the lower house.

US Swaptions: Typical Post NFP Slide, ATM Offered, Wings Bid


CHICAGO, Nov 4 (MNI) - Over-the-counter swaption volatility continued to notch lower across the surface Friday as the October jobs report became a know factor.

US CORP/AGENCY/$EURO NEW ISSUES - November 4, 2011


(#) Launched or (*) Priced (Investment Grade $250M+) =========DEALS TO ANNOUNCE OR PRICE WEEK OF October 31, 2011=========== >>>>>>> NOTE: FOR RUMORED/SCHEDULED DEALS IN PIPELINE SCROLL DOWN <<<<<<

--- Plus More Treasury, Muni & Agency Supply/Calendars -

$500M *Broadcom A2/A- 7Y sr unsec +130 JPM/MS - $1B *Republic of Brazil Baa2/BBB- reopn 5.625% 1/2041 +160 BAR/BAML Chatter that order book several times oversubscribed - $1.25B #Dow Chemical Baa3/BBB 10Y +215 BAML/C/MIZ/MS $750M #Dow Chemical Baa3/BBB 30Y +220 BAML/C/MIZ/MS

=================------>>THE LOOK AHEAD=============================>>> $1.075B Ruby Pipeline Baa3/BBB- 144a Reg S, maturity TBD BAR/RBC/RBS/SG $32B Treasury 3Y Auction Tue, 11/

US CORP/AGENCY/$EURO NEW ISSUES - November 4, 2011


(#) Launched or (*) Priced (Investment Grade $250M+) =========DEALS TO ANNOUNCE OR PRICE WEEK OF October 31, 2011=========== >>>>>>> NOTE: FOR RUMORED/SCHEDULED DEALS IN PIPELINE SCROLL DOWN <<<<<<

--- Plus More Treasury, Muni & Agency Supply/Calendars -

$500M *Broadcom A2/A- 7Y sr unsec +130 JPM/MS - $1B #Republic of Brazil Baa2/BBB- reopn 5.625% 1/2041 +160 BAR/BAML Chatter that order book several times oversubscribed - $1.25B #Dow Chemical Baa3/BBB 10Y +215 BAML/C/MIZ/MS $750M #Dow Chemical Baa3/BBB 30Y +220 BAML/C/MIZ/MS

=================------>>THE LOOK AHEAD=============================>>> $1.075B Ruby Pipeline Baa3/BBB- 144a Reg S, maturity TBD BAR/RBC/RBS/SG $32B Treasury 3Y Auction Tue, 11/

G20 SUMMIT: Leaders Offer Support, But No Cash to Eurozone


CANNES (MNI) - Eurozone firefighting once again took centre stage at this G20 summit, but leaders backed away from any decisions on the hard cash which might stand a chance of effectively insulating Italy against intensifying market speculation in the days ahead.

Political leaders left here, unable to agree to a specific increase in International Monetary Fund resources, with agreement on a deal put off until next year's Mexican summit in February.

IMF Director General Christine Lagarde sounded like she was making a virtue of necessity, when she said that this had been no bad thing in the circumstances.

BoC's Carney: Expects To Be In "A Policeman Role" at FSB


--Will be Strong Advocate Of Stricter Banking Reforms
--Polished, But Hard-Edged; Humorous, But Harshly Cutting

OTTAWA (MNI) - The reaction in Canada was effusive, that among leaders of the great world banks perhaps less so, as Governor Mark Carney of the Bank of Canada was appointed Friday as Chairman of the G20's Financial Stability Board.

In his pre-appointment days, when Carney was making the rounds doing several national television interviews, he modestly agreed to descriptions of the job as being a watchdog over the world's interlocked financial system. He agreed in one interview that, if appointed, he would be taking on "a policeman role" as part of the FSB's regulatory agency functions.

US Corporate Bond Chatter: Risk-off Amid Europe Jitters


NEW YORK, Nov 4 (MNI) - A small handful of fresh investment-grade debt offerings surfaced on the new bond issuance calendar Friday, amid lingering uncertainties over Europe's debt woes and fears about contagion risk, not to mention some positive domestic employment data.

US Corporate Bond Chatter: Risk-off Amid Europe Jitters


NEW YORK, Nov 4 (MNI) - A small handful of fresh investment-grade debt offerings surfaced on the new bond issuance calendar Friday, amid lingering uncertainties over Europe's debt woes and fears about contagion risk, not to mention some positive domestic employment data.

Among the deals listed, the Republic of Brazil launched $1 billion of reopened 5.625% bonds, which mature in January 2041, at a spread of 160 basis points more than U.S. Treasuries of similar maturities.

The offering, which was increased from $500 million, is rated 'Baa2' by Moody's Investors Service and 'BBB-' by Standard and Poor's.

Barclays and Bank of America Merrill Lynch are jointly managing the sale.

Sr US Tsy Offl: Looking 'Very Hard'At Add'l Ways To Aid Housg


WASHINGTON (MNI) - Given the bigger role the housing market normally plays in fueling past economic recoveries, the Obama administration is looking "very hard" at measures to provide further help to that struggling sector, a senior U.S. Treasury official said Friday.

"We are very concerned about the housing market," the Treasury official told reporters during a briefing mainly focused on Friday's release of the October jobs report. The official noted that while there has been some stabilization in housing prices, the market overall continues to be a drag on the economy.