Tag Archives: mischler financial

Bulge Bracket Veteran Enlists With Veteran-Owned Boutique’s International Equities Execution Platform

Mischler Financial Adds To International Equities Team;

Global Bank Trading Veteran Appointed to Senior Role for 24/6 Agency-Only Platform

Immediate News Release

Stamford, CT July 14, 2014—Mischler Financial Group (“MFG”), the securities industry’s oldest investment bank/institutional brokerage owned and operated by service-disabled veterans announced that Eric Michalisin, a close on 20-year sell-side industry veteran and a recognized specialist in international equities execution has joined the firm’s agency-only trading desk and has been appointed, Director, International Equities Sales/Trading. Mr. Michalisin will be based in the firm’s Stamford, CT office and work directly with Managing Director Rob Livio, who oversees the firm’s 24/6 international equities sales/trading platform.

michalisin
Eric Michalisin, Mischler Financial Group

During the 3 years immediately prior to joining Mischler, Mr. Michalisin was Director, International Equities for RBS Securities. During the 7 years prior, he was a senior member of the international equities desk for JP Morgan Chase. Mr. Michalisin began his sell-side career in 1996 as a Far East equities sales/trading specialist for Robert Fleming, Inc and remained with predecessor firm Jardine Fleming Securities throughout 2001.

Noted Joe Digiammo, Mischler’s global head of equities, “Eric’s major firm background, coupled with his unique insight to local market trading, as well as best execution for US-listed ADRs provides our institutional clients with yet another highly-experienced touch-point for those seeking to navigate global equities markets on a 24/6 basis.”

For additional information, please visit the entire news release published today via this link to the Mischler Financial Group website

Markdown in MuniBond ETFs: Discount Pricing

ETF Trends’ Tom Lydon makes a poignant observation when pointing out that MUB , iShares S&P National Municipal Bond Fund ETF is continuing to trade at a discount to its NAV, which for some, is a disturbing bearish signal.

While ETF “discount trading” is not necessarily unusual in and of itself, prolonged disparities (i.e. for more than a brief snapshot in time) often infers a bearish sentiment.  When counting the growing number of municipalities raising their hands for more help and the loom of local financial crisis episodes remains large, its no wonder that the bears are growling.

That said, Ron Quigley, head of fixed income syndicate for Mischler Financial Group was alone last week when he said:        “.. The Federal Reserve Bank said today they’d leave rates at “current low levels through 2014” which simply means that as the economy grows and inflationary fears increase, the long end of the curve will rise.  A steeper yield curve will expedite the process by which the banking system recapitalizes, thus encouraging banks to deploy their excess capital and profits into even more SMEs and consumer lending to fuel more growth

Whichever economic analyst camp you prefer to reside in, MUB’s technical chart is decidedly bearish at the moment. Click on the image to read Tom Lydon’s perspective.

Chart Courtesy of ETF Trends

Fixed Income ETF Fans Tune In Here

It’s a big bowl of alphabet soup when it comes to quenching your appetite for fixed income ETFs. On today’s menu you’ll find that a small smorgasborg of just these alone will get you through the first of several courses: EUO, UUP, ELD, XLU, IDU.

Ron Quigley

There’s not enough room right here to go into further discussing which of the above fixed-income-flavored ETF(s) will work best, it all depends on which US or geopolitical scenarios you’re trying to feed into. That said, what Ron Quigley says –he’s Mischler Financial Group MD & Head of Fixed Income Syndicate– pretty much sums up what every primary market players’ perspective is this week: “Its good to be selling bonds!!”

Multi-Currency, Sovereign..Utilities..You name it, and the new issuance market says “they’re buying it!”

Reprinted without permission, here’s a 2 paragraph excerpt from tonight’s missive from Quigley to his institutional fixed income patrons:

“..With Consumer Confidence reaching a four-year high coupled with the Greek PSI close to achieving a 85% to 90% participation rate, issuers rode market momentum into what was another prolific day for primary markets.  In total, 11 issuers tapped the dollar markets pricing 16 tranches totaling $8.17 billion.  Thus far the weekly total is $48.55 billion, already placing it as the 3rdbusiest week in history!  With two days left to go, the record of $52.5Bil record may fall.  Among today’s diversified group of issuers were two regulated utilities for Southern California Edison and Consolidated Edison….”

You’ll want to contact Ron directly to see his complete market updates..And, you’ll want to dig into the latest market data behind the above-noted tickers to get the fix you’re looking for.