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John Jansen

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  • Bond Expert: Wednesday Wrap [View article]

    I type it on WordPress and that came from the spell check.
    Jun 18 06:26 AM | Likes Like |Link to Comment
  • The Coming Economic Collapse, Part 1 [View article]
    "Then, in 1978, the Supreme Court passed a law stating that banks could charge their cardholders any rate allowed in the bank's home state"

    The Supreme Court adjudicates(last time I checked) and the Congress legislates.
    Jun 9 01:12 PM | 3 Likes Like |Link to Comment
  • Bond Expert: Monday Wrap [View article]
    Macro man,

    In the curve steepener you are long the short end of the Treasury curve and short the back end.

    For example a popular trade with the 10 year about to be auctioned is to be long the 2 year note and short the 10 year.
    Now is the trade is unwound traders are selling their longs (2s) and buying back their shorts (10s).

    That trade has moved 30 basis points in favor of the 10 year since Friday morning (pre labor)
    Jun 8 10:16 PM | Likes Like |Link to Comment
  • Bond Expert: Monday Outlook [View article]

    I like "attenuated". Very nice.

    Jun 8 01:25 PM | Likes Like |Link to Comment
  • Unemployment Data Less Upbeat than It Appears - Deutsche Bank [View article]
    I think we crossed paths at the Open Market Desk in 1981. I think you were there or had just left. And I always remember that the piece which you co authored with Paul Meeks was the single best expositon on Desk operating procedure in the post October 1979 world.

    On Jun 05 04:08 PM Charles Lieberman wrote:

    > All data are not equal. Some are more important than other. The
    > hours worked data is very rough and rounded. So, the fall in hours
    > worked could have been from 33.051 to 33.049. And it can easily
    > reverse next month and I'd bet that reverses very soon. (The manufacturing
    > hours data is just more detail, since that is one of the components
    > in the total hours worked.) So Deutsch Bank's criticism is actually
    > quite superficial.
    > What is important is that the pace of job loss has slowed significantly.
    > If you recall, economists pointed out a month ago that the actual
    > job loss was even greater than reported because of the early hiring
    > by the government to conduct the census. So, a worse number was
    > expected this month, because another round of census worker hiring
    > is not scheduled for several months. So I take the actual report
    > of 345,000 job losses as indicating a material slowdown in the pace
    > of decline, particularly since prior data was also revised upwards.
    > Just as supertankers don't turn on a dime, neither does an economy
    > as large and complex as our's. But, this data is another bright
    > green shoot that suggests that turnaround process is now underway.
    > If you really disagree, you can play your judgment very easily by
    > buying December 2009 eurodollar futures, which got hammered over
    > the now increased risk the Fed might raise rates before the end of
    > the year. Two-year and 10-year Treasuries notes also got hammered.
    Jun 7 08:15 AM | Likes Like |Link to Comment
  • Bond Expert: Friday Wrap [View article]
    Butterfly trade explained
    Jun 6 11:05 AM | Likes Like |Link to Comment
  • Mortgage Market: 'Utter Chaos' [View article]

    We would have depression before rates hit 10 percent. The current rate levels will curtail economic activity and are sowing the seeds for a short circuiting of the recovery (putative as it may be).
    Jun 5 10:46 AM | 9 Likes Like |Link to Comment
  • Bond Expert Wednesday Outlook: Epiphany [View article]

    No auction today. The Fed bought the securities in a buyback.
    Jun 4 12:19 AM | 1 Like Like |Link to Comment
  • Bernanke on Recovery vs. Growth [View article]
    Rather than balls try "testicular appendages" next time. Everyone will think you are the late Bill Buckley reincarnated!!
    Jun 3 04:29 PM | 2 Likes Like |Link to Comment
  • Bond Expert: Tuesday Outlook [View article]
    Great line!!
    Jun 2 10:45 AM | Likes Like |Link to Comment
  • Bond Expert: Wednesday Wrap [View article]

    i am jargon heavy at times and apologize. Virtually all corporate bonds are quoted on a spread to a Treasury bond. On the Dow Chemical bond the 7.60 is the coupon interest which it pays . The 540 and the 515 are spreads to the benchmark 5 year Treasury. The wider the spread the cheaper the bond.

    Five year Treasury closed the day at 2.40 ish yield. At T+ 540 the Dow yields 240 (the Treasury yield) + 540 (spread above the Treasury = 7.80.

    At a spread of 515 it would yield just 7.55.

    Hope that helps

    May 27 10:33 PM | 2 Likes Like |Link to Comment
  • Bond Expert Tuesday Wrap: Something's Afoot [View article]
    What is mom's track record?
    May 27 11:37 AM | 2 Likes Like |Link to Comment
  • My Favorite Financial Blogs [View article]
    Thanks for including me in your list.

    John Jansen
    May 18 11:39 PM | 1 Like Like |Link to Comment
  • Bond Expert: Monday Outlook [View article]
    If you visit my website,I update all day long.
    May 18 04:11 PM | Likes Like |Link to Comment
  • Bond Expert: Monday Outlook [View article]
    i think they are quite a distance away myself but I was surprised at the number of players who wanted to have that conversation llast week.
    May 18 12:23 PM | Likes Like |Link to Comment