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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 26, 2015
16:43 EDTMoney Supply M2 Weekly Change data reported
Week of 3/16 Money Supply M2 Weekly Change at $9.3B
16:38 EDTFed Balance Sheet Level data reported
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16:00 EDTWeek of 4/3 EIA Natural Gas Report to be released at 10:30
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16:00 EDTWeek of 4/5 Bloomberg Consumer Comfort Index to be released at 09:45
16:00 EDTWeek of 4/4 Jobless Claims to be released at 08:30
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15:00 EDTTreasury Closing Summary:
Treasury Closing Summary: The bond market skipped a beat on Thursday after the big biotech sell-off and Yemen air strikes the day prior was followed by "deceased feline" bounce on beaten down stocks, which recovered some poise back to roughly unchanged from deep overnight losses. Moderates Bullard and Lockhart continued to lean towards rate hikes, which may have resonated as well, giving the dollar a lift from lows even as crude oil remained well bid. Initial jobless claims sank and Markit services flash PMI gained. Into this volatile mix, the 7-year auction results were relatively poor, which set up Treasuries for a fall and postponed quarter-end dip buying and a relief rally.
14:40 EDTAverages nearly unchanged for the session
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14:30 EDTNo immediate Saudi plans for a ground operation
No immediate Saudi plans for a ground operation launch in Yemen are imminent, though its forces are "ready if necessary", according to a Saudi military spokesman. This follow reports that ground forces were preparing to enter after the air strikes softened up their targets. Recall, earlier reports that the Houthi leader had been killed seemed to be at the nexus of the stock market rebound from lows. Saudis also said that the Houthis will be cut off from supplies (presumably from Iran) until the operation ends.
14:15 EDTU.S. equities have clawed back into the green
U.S. equities have clawed back into the green though oil prices remain elevated and the dollar is on the rise again, which appear to be creating some headwinds along with the post-auction jump in bond yields. Yet investors of the high frequency and other varieties seem to be taking the inertial signals of the rebound in USD-JPY toward highs of 119.57 at face value for now. News that Saudi boots may follow air strikes on the ground in Yemen and that an all-Arab strike force in the region to intervene in regional security threats may keep uncertainty high, though this appears to keep U.S. involvement at arm's length in Yemen. Though the S&P 500 has managed to leap back above its 100-day m.a. at 2,057.3, it did crack a major trendline on the downside, drawn by connecting lows on a daily chart back to the major low on October 15 at 1,820.66.
14:05 EDTFed Chair Yellen's comments on monetary policy are anxiously awaited
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13:35 EDTU.S. GDP Preview
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13:20 EDTTreasury Action: intermediate yields climbed
Treasury Action: intermediate yields climbed on the back of the poor showing on the 7-year auction, though as expected the foreign demand came in above par. Jittery markets didn't appear to help this paper in this case, which tailed out with a subpar cover. The current 7-year yield cleared 1.79% from the 1.775% area in advance, compared to the 1.792% award rate on the new notes - all well above session lows of 1.69% when stocks were at their nadir ahead of the open. Stocks are now nearly back to unchanged and this was a factor as well for the sale. Above 1.79-1.80% there's a bit of a gap in the charts back to FOMC highs of 1.873%, but if that area holds along with the 2.0% area on the T-note and 2.60% on the cash bond, look for some relief to creep back in ahead of quarter-end all else equal.
13:15 EDTTreasury's $29 B 7-year auction was another disappointment
Treasury's $29 B 7-year auction was another disappointment. The note tailed to 1.792%, the cheapest of the day, versus 1.780% at the bid deadline. And it compares to last month's 1.834%. There were $67.2 B in bids for a 2.32 cover, below February's 2.37 and the 2.51 average. It is the weakest since May 2009 (similar to the 5-year). Indirect bidders accepted 50.5% also a little less than the 52.3% in February, but a little better than the 48.8% average. Direct bidders took 12.3% against 10.5% previously, while primary dealers were awarded 37.2%, unchanged from the prior 37.1%.
12:40 EDTFX Action: USD-CAD traded to 1.2495 highs
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12:40 EDTTreasury 7-year auction outlook:
Treasury 7-year auction outlook: there's a cautious tone going into the offering, especially after yesterday's soft bid. Also, the note is expected to tail slightly, as has been a trend for this maturity, and given the recent price swings. The concession should help bring marginal buyers off the sidelines. The wi climbed over 4 bps to challenge 1.78% today and has been as low as 1.66%. Yet, a stop here would be the second richest since May 2013. On the positive side, the auction could benefit from concerns over geopolitical risks, as well as from month-, quarter-, and Japan's fiscal year-end flows. Sources also remind that the note has often rallied post auction into month-end. The February auction was on the soft side with a 1.834% stop, a 2.37 cover (2.51 average), but a solid 52.3% indirect bid (48.8% average). Direct bidders accepted 10.5%, while primary dealers were awarded 37.1%.
11:50 EDTSaudies to strengthen border security
Saudies to strengthen border security and security around oil and industrial facilities, according to their State News Agency SPA, following its air strikes in Yemen. That would seem prudent after escalation of its involvement in the near civil war of its neighbor. Meanwhile, WTI crude has stabilized over $50 bbl after pulling back from highs over $52.40. Yemeni President Hadi has left Aden for the Arab Summit, reportedly under Saudi protection, according to Al-Arabiya TV. Meanwhile, the White House was quick to preclude terrorism in the likely intentional downing of the Germanwings flight in the Alps, according to CNN reports.
11:50 EDTU.S. corporate debt update
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11:10 EDTTreasury announced a $48 B 3- and 6-month bill auction for Monday
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11:00 EDTU.S. VIX equity volatility gapped higher
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10:40 EDTEuro$ interest rate futures have suffered in kind
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