On Wall Street Trading Desks, Here's What They're Chatting About Right Now

UBS trading floor stamford

Photo: Courtesy of UBS

Dave Lutz of Stifel, Nicolaus sends along the topics about which he is chatting with clients.We summarize in bullet points.

  • Markets a touch higher, but some stress still in EU bonds.
  • Solid Chinese PMI.
  • Copper breaking 4-day losing streak.
  • Eurozone PMI, German business sentiment: Bad.
  • Looks like Greece is getting 2-more views.
  • ‘ James Grant: ‘Interest Rates Have Fallen And They Can’t Get Up’
  • Big Dow drops.
  • Odds rise of an Obama defeat.

And from Michael Block at Phoenix Partners:

  • Implied Correlations spiked yesterday but in general the trend has reset lower.  The alpha is BACK, baby!
  • FOMC today at 2:15PM.  Consensus is that unlimited QE gets $45B in Treasuries, but not until the December meeting.  Today, hints of it may be enough.
  • AAPL tomorrow night – can it regain leadership for itself and tech despite Mini cannibalization fears?
  • DOW cutting jobs and closing sites.  The real growth story for industrials, chemicals, and materials is not working.
  • European PMIs awful and going the wrong way.  IFO also misses.  Europe still the loser here and Spanish bailout is on the side of a milk carton.

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