Barclays Share Discussion Threads

[capricious] 15/10/2010 12:45

Another good day Ken, have your naysayers started losing their voices?

Bored... haha, a true trader is born. ;)

Theta, how come you have different trades if using Kens system... do you use different data to set the open price?

[jon827] 15/10/2010 12:01

tanks MIATA but don't want no half way house :-)

[kenbachelor] 15/10/2010 11:36

Juggler - I've updated the figures in the header and things are looking good. I wouldn't give up work though and expect to keep myself occupied watching one trade a day going up and down. I'd be bored to tears.

[the juggler] 15/10/2010 11:28

Well done Ken! A nice little earner there for you! If I could make that everyday I could quit work. Still I know you have your loss days too but this is so interesting to see your progress and I hope it is an overall success so that I can emulate you!

[kenbachelor] 15/10/2010 11:25

Trade closed for £372.90 and long deleted.

[b1gman2] 15/10/2010 11:10

Miata, if the above is to be believed, then you have an (approx) 1 in 5 rights issue to raise that sort of cash.

[joe_public] 15/10/2010 11:03

they don't mince their words do they.......

[unruley] 15/10/2010 10:26

If ye want easy money switch to EMG for now.

[b1gman2] 15/10/2010 08:58

Yep - it takes a while to digest 220m shares = £0.6bn for someone to dig outta their back pocket.

[hillbrown] 15/10/2010 08:53

I'd understand a burst after the announcements but it seems a bit consistent............

[nadamson] 15/10/2010 08:33

Arabs selling hillbrown

[hillbrown] 15/10/2010 08:19

Any particular reason why Barc is underperforming over six, three and one month against lloy, rbs, stan and the UKX.

Thoughts?

[kenbachelor] 15/10/2010 07:09

Open at 5,744, now short at 5,737

[bobp] 15/10/2010 07:07

Morning all.

Only bank to continue the trend after a us recovery late last night.

Runes aren't good. no news means we'll see more unless a broker or two come out pdq and put a stop to this by saying how fantastic they are

[pal44] 15/10/2010 06:44

Wil that is a bit optimistic we have have QE in between .. 350 by Jan ..

[wilba] 15/10/2010 06:42

Barclays looking £2.60 and back to £2.90 by Jan. Any debate on this?

[kenbachelor] 15/10/2010 06:21

Jon - Yes - Read the first post on the FTSE thread.

Knight - If the open is 5,737 there won't be any trades today.

[knight174] 15/10/2010 06:00

ken are you thinking of going long at 5761 and short at 5737 because the futures are at 5737 ish at the mo, so does this mean that you will still open both trsde?

[christh] 15/10/2010 05:14

NJ Agency Sells $1.5 Billion in Muni Bonds At Juicy Yields

By Kelly Nolan
Of DOW JONES NEWSWIRES
October 14, 2010 18:31 GMT


New Jersey Transportation Trust Fund Authority--the state's funding mechanism for transportation system improvements--sold $1.5 billion in debt in the municipal bond market this week, offering juicy yields to attract investors.

The bulk of the deal, about $1 billion, was sold Thursday as Build America Bonds, or BABs, taxable securities created through the federal stimulus program last year that pay higher interest rates than tax-exempt municipal bonds.

On Wednesday, the authority priced about $485 million in tax-exempt bonds for individual investors, with $181 million of them due in 2023 yielding 3.89%. Another small taxable piece, about $15 million maturing in 2017, was priced at 1.8 percentage points over comparable Treasurys, to yield 3.6%.

Taxable munis are priced relative to Treasury bonds of comparable maturities.

Thursday's BABs portion of the deal was split between two 2028 maturities, one with a make-whole call, priced at 1.95 percentage points over comparable Treasurys, while the other, with a 10-year par call, sold at 2.3 percentage points over Treasurys.

Barclays Capital was the senior manager on the debt issue. The funds for the deal will be used for new transportation projects as well as to refund outstanding debt with higher interest costs.

Andrew Pratt, spokesman for the state Treasury, said the sale "drew strong interest from a lot of investors, and we were able to complete it at a time when interest rates are at or near historic lows." He added that the state was pleased that the state was able to raise about $1 billion in new money, more than the $900 million expected.

That investor enthusiasm came at a price. In the secondary market Thursday, taxable Connecticut debt maturing in 2029 traded at 1.38 percentage points over comparable Treasurys, or 0.57 percentage points less than the narrowest spread on the BABs part of the New Jersey deal.

Since prices move inversely to yield, the New Jersey bonds were relatively cheap.

Similarly, the tax-exempt part of the issue offered around 0.60 percentage points more in yield on some intermediate maturities, versus a similarly rated City of Los Angeles wastewater offering that sold this week, said Dan Solender, head of municipal bond management at investment firm Lord Abbett in Jersey City.

Richard Saperstein, managing director and principal of Treasury Partners, a division of financial advisory firm HighTower in New York, said New Jersey had to pay more for its debt because in recent years its has faced its share of budget woes, and it has a recent history of underfunding its pension obligations.

New Jersey helped to close a $10.7 billion gap for fiscal 2011 by skipping a $3 billion pension contribution and by making significant cuts to budgets for schools, municipalities and even hospitals.

"Anything that has to do with New Jersey, there is bad press," because of some of Gov. Chris Christie's initiatives to address the state's finances, Saperstein said.

It also doesn't help that earlier this month, Christie canceled--then said he'd reconsider--the construction of a new tunnel under the Hudson River to connect the state with New York, because of its lofty price tag.


-By Kelly Nolan, Dow Jones Newswires; 615-679-9299; [e-mail]

[christh] 15/10/2010 05:11

heavily oversold.
time to buy now for November results and the dividend.