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Jason Aycock

Jason Aycock
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  • The Fed buys $6.939B in Treasurys of just $11.605B offered by dealers, but the bonds were already aloft after the jobs report: the 10-year yield -0.03 to 2.995%; five-year -0.05 to 1.6%; two-year -0.02 to 0.43%.  [View news story]
    Hot off the press ...
    Jun 3 11:37 AM | 1 Like Like |Link to Comment
  • The Treasury sells $35B in two-year notes at 0.56% (.pdf). Bid-to-cover ratio of 3.46; indirect bidders take 31.3%. Direct bidders take 19.2%.  [View news story]
    Yes, there is some paper juggling, a lot of which is detailed in an image here: si.wsj.net/public/reso...
    May 24 02:56 PM | 1 Like Like |Link to Comment
  • The Treasury sells $32B in three-year notes at 1% even (.pdf). Bid-to-cover ratio of 3.29, vs. a recent 3.12; indirect bidders take 32.7%, vs. a recent 33.8%. Direct bidders take 15.4%, vs. a recent 11.9%.  [View news story]
    In a nutshell: Bid-to-cover is an indication of bullish interest -- $3.29 was bid for each $1 of debt available for sale.

    High numbers from direct bidders and indirect bidders (which includes foreign central banks) are considered bullish for bonds, since the remainder is primary dealers who are required to bid no matter what -- and thus often turn around and sell those holdings in the secondary market.
    May 10 02:16 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    That is a key distinction; thanks, and I added the word in to clarify.
    Apr 25 08:34 AM | 1 Like Like |Link to Comment
  • Soros link is about his conference, set up this year at Bretton Woods; the "monstrous monkey house" refers to Keynes' quote about fears the original Bretton Woods would get nothing done.
    Apr 14 01:18 PM | Likes Like |Link to Comment
  • Just One Stock: Returns, Cash Flow, Emerging-Market Potential for Coke's World-Class Beverage Brand [View article]
    P/Es are relative, right? So there's an argument to be made that KO is still inexpensive even at 20. Thomson has a forward P/E of 15.63. So I leave it to Christian to say whether he thinks it's a bargain with or without the bottling special gain. I can see both sides of that, myself.
    Apr 12 08:05 PM | 1 Like Like |Link to Comment
  • Just One Stock: Returns, Cash Flow, Emerging-Market Potential for Coke's World-Class Beverage Brand [View article]
    Though we tried to touch on the CCE aspect a bit too, so that should be investigated by anyone looking at investing in KO, of course.
    Apr 12 07:56 PM | Likes Like |Link to Comment
  • Just One Stock: Returns, Cash Flow, Emerging-Market Potential for Coke's World-Class Beverage Brand [View article]
    Poortorich:

    Not to jump in before Christian, but using trailing twelve-months diluted EPS of $5.06 and depending on the price: today's close of $66.90/5.06 = 13.22x
    Apr 12 07:53 PM | 1 Like Like |Link to Comment
  • If you're keeping an eye on skyrocketing food and fiber prices (past 12 months: an 82% corn pop, a 142% gain in cotton, wheat prices soaring worldwide), then you'll want to join those scrutinizing tomorrow's annual crop-planting report - the best outlook on upcoming supplies until farmers actually put crops into the soil. Eyes are especially on corn (92M expected acres).  [View news story]
    True; though I wrote this to be more about price levels than inflation per se. Certainly, Prospective Plantings is short-term info, in the sense that we'll know later this spring what was actually put in the ground.
    Mar 30 01:07 PM | Likes Like |Link to Comment
  • Another session low for stock indexes (S&P 500 -1.2%), and Nasdaq hits 2% down with big names all suffering: AAPL -2%, CSCO -1.8%, INTC -2%, MSFT -1.1%. Semiconductors have been down more than 3%.  [View news story]
    You're right (and thanks) -- got a completely erroneous quote. Semiconductor weakness is widespread. (SOXX) and (SMH) now -3.7%.
    Mar 7 01:19 PM | Likes Like |Link to Comment
  • The Fed buys $6.688B in Treasurys maturing 2013-2015, of $37.36B submitted by dealers. Since the Fed announced in August it would reinvest proceeds from maturing debt, total purchases come to over $425B. Bonds continue to trade lower: 30-year yield +0.03 to 4.71%; 10-year +0.04 to 3.62%; 2-year +0.03 to 0.79%.  [View news story]
    Of course it's mostly electronic, but at least one answer to your question is "very, very busy" Fortress Paper (FTPLF.PK), which supplies paper for euros and Swiss francs ...

    seekingalpha.com/curre...
    Feb 18 02:05 PM | Likes Like |Link to Comment
  • Riding the auto rebound, formerly bankrupt parts maker Lear (LEA) is up 1.8% as it announces a 2-for-1 split, a $400M buyback program and a quarterly dividend - all of which still look "fairly conservative," considering a $1.7B cash balance, says an analyst.  [View news story]
    Volume!
    Feb 17 11:52 AM | Likes Like |Link to Comment
  • Just One ETF: Controlling Risk Through Hedge Fund Replication [View article]
    David:

    Not to quibble with any of your points except this one: You say the underperformance in the chart speaks for itself -- it's a one-year chart; is one year your default horizon, where an investment's success or failure is self-evident?
    Feb 12 01:43 PM | 2 Likes Like |Link to Comment
  • Market recap: Equity gains were tempered in the afternoon, but every sector but energy managed an advance, and commodities were mixed: Cotton spikes, natgas tumbles. AIG rose 6% as insurers led financials higher.  [View news story]
    True, but ERX is heavy on XOM and CVX and missed big decliners like Petrobras and Ensco.
    Feb 8 04:22 AM | Likes Like |Link to Comment
  • Boeing (BA -1.9%) trading lower after its downgrade by Fitch based on cash-flow issues related to delays in the 787 Dreamliner and the efficiency-improved 747-8. "Substantial cash flow" could be ahead for Boeing from the 787, the rater says, but the plane is now almost three years behind schedule.  [View news story]
    Indeed ... we're all just trying to catch up. Boeing I suppose is no exception ...
    Jan 28 12:39 PM | Likes Like |Link to Comment
COMMENTS STATS
102 Comments
65 Likes