Week of January 29, 2012 thru February 4, 2012

China Economic Data Calendar


All figures year-over-year percent changes unless otherwise specified.

Portfolios:Morgan Stanley SB:After Fed,Shld Move Out The Curve


WASHINGTON (MNI) - The latest message from the Federal Reserve is that cash is going to be at or close to zero for the next couple of years, "and in that environment, there is an opportunity cost for fixed income investors," so investors "should move out the yield curve," Morgan Stanley Smith Barney chief fixed income strategist said Thursday.

US News Events Calendar


--Meetings & Events of Interest to Subscribers

DATE GMT / EST EVENT

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27-Jan 1230/0730 U.S. Treasury Secretary Tim Geithner is interviewed by CNN's Fareed Zakaria in Davos-Klosters, Switzerland, in open plenary session of the World Economic Forum.

27-Jan 1500/1000 New York Federal Reserve Pres. William Dudley delivers regional economic press briefing on recession, federal stimulus and regional schools.

27-Jan -- At close of business ET, the U.S.

TheFXSpot: One Step Forward, Two Steps Back For Risk


NEW YORK, Jan 26 (MNI) - Thursday was yet another day of "one step forward and two steps back" in terms of risk appetite, with stock and commodity prices posting new 2012 highs and then retreating.

Credit Default Swaps:IG17 Record Tight, Green Light For Risk


CHICAGO, Jan 26 (MNI) - The benchmark index on U.S. investment grade Credit Default Swaps or IG17 moved to an all time tight Thursday as many acted on what was a "green light" for risk assets, market observers said.

In early afternoon trade, the IG17 was last flat at 101 basis points. However, the IG17 narrowed to an all time tight of 98.125 bps earlier in the session.

The "green light" that many referred to was the signal from the Federal Reserve late Wednesday that they are prepared to pull out all stops to aid the domestic economy.

The Federal Open Market Committee Wednesday said the Fed Funds rate should remain steady until late 2014, compared to its prior committment of mid-2013.

Credit Default Swaps:IG17 Record Tight, Green Light For Risk


CHICAGO, Jan 26 (MNI) - The benchmark index on U.S. investment grade Credit Default Swaps or IG17 moved to an all time tight Thursday as many acted on what was a "green light" for risk assets, market observers said.

US$ CREDIT SUPPLY PIPELINE - January 26, 2012


Investment-grade $250M+ Deals Announced/Launched(#)/Priced(*)/Pass(X) Date $MM Issuer/CR/Descr Mat Yield Lead(s) 1/26 1000 *Poland (A2/A-) 2022 T+295 C/DB/HSBC Reopen 5% Global 1/26 400 *Harley-Davidson Financial Ser 5 T+195 C/JPM/RBS (Baa1/BBB+) 144A Reg S w/o Reg Rights 1/26 600 *Volcan Compania Minera 10 T+344 JPM/MS (Baa3/BBB-) 144A Reg S 1/26 400 #National Rural Utilities 3 T+80 KEY/MUFJ/RBC/ (A1/A+) RBS 1/26 400 #National Rural Utilities 10 T+115 KEY/MUFJ/RBC/ (A1/A+) RBS 1/26 250 #Braskem Finance Ltd 2021 5.750% C/DB/SAN

US Debt Offering, Auction Calendar for Tsy and Agency Issues


January 26

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S.

Talk From The Trenches: Belly Leads In Ongoing React To FOMC


NEW YORK, Jan 26 (MNI) - While the Treasury market continued to improve Thursday, led by the belly, people still tried to reconcile the very dovish Federal Reserve statement a day earlier with the more hawkish federal funds rate projections.

US$ CREDIT SUPPLY PIPELINE - January 26, 2012


Investment-grade $250M+ Deals Announced/Launched(#)/Priced(*)/Pass(X) Date $MM Issuer/CR/Descr Mat Yield Lead(s) 1/26 1000 *Poland (A2/A-) 2022 T+295 C/DB/HSBC Reopen 5% Global 1/26 400 #Harley-Davidson Financial Ser 5 T+195 C/JPM/RBS (Baa1/BBB+) 144A Reg S w/o Reg Rights 1/26 400 #National Rural Utilities 3 T+80 KEY/MUFJ/RBC/ (A1/A+) RBS 1/26 400 #National Rural Utilities 10 T+115 KEY/MUFJ/RBC/ (A1/A+) RBS 1/26 250 #Braskem Finance Ltd 2021 5.750% C/DB/SAN (Baa3/BBB-) Reopen 5.75% 1/26 600 #Volcan Compania Minera 10 5.375% JPM/MS