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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 13, 2014
15:00 EDTTreasury Closing Summary:
Treasury Closing Summary: A grim July retail sales report put Treasuries back on the boil Wednesday, even boosting stocks with the "bad is good" school of investing back in session. That was because the weaker than expected consumer snapshot, along with damp global data and cool BoE inflation report fed back into the notion that the Fed now has more room for patience in kick-starting the tightening cycle. Despite very low yields and nary a concession, the 10-year auction found ready buyers.
13:25 EDTTreasury Option Action: mixed bag positioning
Treasury Option Action: mixed bag positioning was the rule in the 10-year, leaving volatility to drift a hair lower on the day. Among them were bearish purchases of 2k in October 123 puts and 1k in September 124+/125/125+ put trees. On the bullish side were purchases of 3k in September 126 calls and 1k in December 127/128/128+ call trees. In addition, there were bullish sales of 1k in October 123/124 put spreads, 5k in October 122 puts, 2k in December 125 puts and 2k in Sep/Oct 122 put calendars. September 10-year futures are 7.5-ticks firmer near 126-02 compared with a 126-05 to 125-18 range today.
13:15 EDTTreasury's $24 B 10-year auction was well subscribed
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13:15 EDTTreasury Action: yields ticked up from lows
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12:55 EDTFX Action: USD-CAD has been mired
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12:50 EDTU.S. dollar swap spreads leveled off
U.S. dollar swap spreads leveled off and tapered back in somewhat this week, in line with some moderation in risk aversion, though other risk proxies like gold is still elevated near $1,310. Treasury yields remain low too, which is keeping spreads from tightening much, though there could be a small flicker around the roll to the new 10-year notes after today's auction. The 2-year swap spread topped out at +24 bp (mid) Friday and has since drifted back to lows of +22 bp today before backing up to +23 bp again. The 10-year spread peaked at +16.75 bp (mid) Friday and since rolled back to +14.75 bp narrows.
12:40 EDTTreasury $24 B 10-year auction preview: outlooks are mixed
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11:25 EDTU.S. equities are in ramp mode again
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11:20 EDTU.S. corporate bond update: a few issuers are competing with Treasury
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11:15 EDTTreasury 10-year auction outlook: the auction could see moderate demand
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11:10 EDTNY Fed bought $0.423 B in TIPS in today's buyback
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10:50 EDTToday's U.S. major reports both undershot assumptions
Today's U.S. major reports both undershot assumptions, with component data that were weaker than the restrained headline figures. Analysts saw a flat retail sales figure in July with a tiny 0.1% rise for the ex-auto and "control" measures, while Q2 sales were lowered for the important components that enter GDP calculations. Similarly, analysts saw a restrained 0.4% June business inventory rise, with a skewing in the June gain to the auto component that also doesn't enter GDP calculations. Analysts now assume a downward Q2 GDP growth bump to 3.8% from 4.0%, and our Q3 GDP estimate has been lowered to 3.2% from 3.5%. Note also that today's MBA weekly mortgage market purchase index fell again, leaving potential for this measure to set a new month-average cycle-low in August.
10:40 EDTOil Action: Front month NYMEX crude fell to $97.04
Oil Action: Front month NYMEX crude fell to $97.04 from $96.98 following the EIA inventory data which showed a 1.4 M bbl rise in crude stocks. The street had been expecting a 2.0 M bbl decrease. Meanwhile, gasoline supplies, down 1.5 M bbls actually fell 1.2 M bbls, while distillate stocks were down 2.4 M bbls, versus expectations for a 0.5 M bbl increase. Refinery usage fell to 91.6% from 92.4%.
10:31 EDTCrude Inventories for the week of August 8
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10:30 EDToutright purchase: the Fed is buying $0.35 B to $0.45 B in TIPS
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10:20 EDTTreasury Action: yields have steadied above lows
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10:20 EDTThe expected 0.4% June U.S. business inventory rise
The expected 0.4% June U.S. business inventory rise followed a downwardly-revised 0.5% (was 0.6%) May gain to leave a weaker inventory path than the BEA assume in constructing the 4.0% Q2 GDP growth estimate, and analysts now assume a downward bump in Q2 growth to 3.8%. The downwardly-revised 3.8% (was 4.0%) Q2 GDP growth figure should include a big $24 B downward inventory revision, with downward bumps of $12 B for wholesalers, $6 B for both factories and retailers. This should accompany a $1 B downward consumption revision, but boosts of $15 B in net exports, $3 B in construction, and $2 B in equipment. Our 3.2% Q3 GDP growth forecast incorporates a flat inventory figure, following the expected $34 (was $58) B inventory boost to Q2 GDP growth that translates to a $69.4 (was $93.4) B accumulation rate. For today's inventory specifics, analysts saw a largely expected 0.5% retail inventory rise, alongside already-reported gains of 0.3% for both factories and wholesalers, though the retail gain was skewed toward the auto-component that isn't used for GDP calculations.
10:15 EDTU.S. business inventories rose 0.4% in June
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10:00 EDTBusiness Inventories data reported
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09:55 EDTFX Action: USD-JPY is recovering
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | all recent NOSYMBOL news | >>

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