Fixed income

Ten-year Treasuries are making a new session low in front of the revised report on Q4 2015 GDP which is expected to show +0.4% growth v. an estimated of +0.7% in its initial update.

Technical indicators should take a back seat when fundamental data changes. Today’s data indicates that retail sales has not met growth expectations even when adjusting for lower oil and gasoline prices. The New York Empire report was very weak as well giving rise to additional concerns for the manufacturing base.
Revenue at the world's 10 largest investment banks rose 9 percent to $44.9 billion in the first quarter compared to a year ago, as financial market volatility and central bank stimulus measures boosted profits, a survey showed on Wednesday.
Friday was volatile and we should expect greater volatility in fixed income as well as other asset classes until such time as Federal Reserve policy intent is more easily read.
A New York Fed white paper from April of 2014 explores the idea of imposing withdrawal fees on money market funds. The publication concludes that there is a real possibility that suspending convertibility, including the imposition of gates and/or fees for redemptions, can create runs
It is worth noting that last month the strongest gain for payrolls in three years was met not with bond selling but bond buying as the post-mortem of the household survey revealed a more fragile situation
BlackRock, which oversees $4.3 trillion in assets, revamped its bond unit in 2012 after performance at funds trailed peers
Just now bond bears must be extremely depressed by the fact that even when the occasional data piece shows resilient demand, yields refuse to budge
Available on CME Globex, Euro DSF will be listed for quarterly expiration on IMM dates, for physical delivery of an OTC Euro interest rate swap at key terms to maturity of 2, 5, and 10 year and notional value of €100,000.
Bear market short squeezes can be brutal. They are not, however, life-threatening to the developing bearish trend.