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Stock Market & Financial Investment News

News Breaks
November 10, 2012
09:00 EDTIndustrial Production Capacity Utilization Rate to be reported at 09:15
October Industrial Production Capacity Utilization Rate will be reported at 09:15 . Current consensus is 78.4%
News For NOSYMBOL From The Last 14 Days
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December 8, 2014
15:20 EDTTreasury Closing Summary:
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13:25 EDTMore from Fed's Lockhart: low oil prices could hurt
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12:50 EDTFed dove Lockhart: low inflation is a sign
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12:35 EDTFed Policy Outlook: risk is the FOMC drops "considerable time"
Fed Policy Outlook: risk is the FOMC drops "considerable time" from its policy statement next week, especially after the broad-based strength registered in the November employment release, which was also supported by the LMCI. Recent Fedspeak, and especially comments from the usually more dovishly inclined policymakers, have suggested they could support rate lift-off around mid-2015. So working backwards, if Chair Yellen's "6-month" slip of the tongue at the March press conference was a harbinger, then the FOMC should be looking to remove that statement ASAP. The timing is right for this action since there will be a press conference where Yellen can more fully explain the action. However, it may be tough for the Fed to hike rates as soon as June if global economic weakness tempers U.S. growth and if there's further weakening in price pressures.
12:35 EDTEuro$ interest rate options: more trade liquidation
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11:50 EDTTreasury's $50 B 3- and 6-month bill sale was solid
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11:30 EDTFX Action: USD-CAD remains under Friday's 1.1476 highs
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11:25 EDTTreasury announced a $50 B 4-week bill auction for Tuesday
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11:21 EDTFederal Reserve Board of Governors to hold an open meeting
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11:10 EDTU.S. equities are above opening lows
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11:05 EDTOil Action: NYMEX crude has made new trend lows
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10:30 EDTFX Action: USD-JPY has given up the 121 handle
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10:20 EDTU.S. LMCI fell 1 point to 2.9 in November
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10:00 EDTEuro$ interest rate options: a large risk reversal
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09:45 EDTU.S. Retail Sales Face Price and Weather Headwinds:
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09:40 EDTFed's LMCI preview:
Fed's LMCI preview: the Labor Market Conditions Index should improve in November given the plethora of good news from most of the recent jobs reports, especially last Friday's from the BLS. This is a new release from the Fed and is constructed using 19 other, already released jobs data, so it doesn't offer any new insights. Additionally, the October FOMC minutes, which first reiterated the policy statement that underutilization of labor resources is diminishing, it also noted that a number of FOMC participants reported underutilization remained. The LMCI rose 4 points in October after an identical increase in September. This is not an important indicator for the markets.
09:10 EDTTreasury Action: Treasuries see a heavy supply calendar this week
Treasury Action: Treasuries see a heavy supply calendar this week which could keep yields biased higher. The debt managers are selling $59 B in coupons, with $25 B in 3-year notes auctioned on Tuesday, $21 B in 19-year notes Wednesday, and $13 B in 30-year bonds Thursday. The wi 3-year rate is at 1.115%, which would be the cheapest stop since April 2011. On the other hand, the wi 10-year is at 2.315%, which would be the richest rate since June 2013. And for the 30-year, the current 2.97% would be one of the lowest rate since May 2013. After the strong November jobs report and the risk the FOMC removes the "considerable time" language from its policy statement next week as it prepares for a rate hike in 2015 could leave many potential buyers sidelined. However, foreign accounts should continue to support the auctions given widening yield differentials. The longer dated notes could be underpinned by flattening trades and subdued inflation.
09:00 EDTSF Fed's Williams reportedly argued for ZIRP
SF Fed's Williams reportedly argued for ZIRP to be maintained to meet the Fed's policy goals, according to a MNI Beckner report circulating. He said that large balance sheets were "factored into the Fed forecast" and that "considerable time" best captures the liftoff (in rates). If so, this is in keeping with Williams dovish profile, though he had been more upbeat on the economy lately.
08:50 EDTFX Action: USD-CAD held under Friday's 1.1476
FX Action: USD-CAD held under Friday's 1.1476 trend high overnight, peaking at 1.1458 before easing back to 1.1428 lows into the North American open. Canadian housing starts data was close to expectations and had little impact on the markets, and going forward this morning, the commodity backdrop should remain the main driver of the CAD's direction. WTI crude touched $64.09 lows before rebounding over $64.50, weighing slightly on USD-CAD, though a break under $64 should see USD-CAD test Friday's high, with a break there bringing 1.1500 into focus, where barrier options are reported.
08:35 EDTU.S. equities are modestly lower to start the week
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