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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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August 27, 2014
05:51 EDTSeptember front month equity options last day to trade September 19, 2014
04:45 EDTFX Action: USD-JPY has ben struggling to hold gains
FX Action: USD-JPY has ben struggling to hold gains above the 104.00 mark, presently trading around 103.90 after capping out in Tokyo at 104.16, one pip shy of yesterday's peak and Monday's seven-month high at 104.27. Good offers are reported above 104.00, related to month-end and the approach of the end of the first half of Japan's fiscal year. Overall, directional bias is pretty limited presently. Friday's brings the usual slew of month-end data releases out of Japan, including CPI, industrial production, and labour market numbers, which analysts expect to be net negative for the yen. (see calendar for forecasts). With the JGB 10-year benchmark yield, presently at 0.50%, hovering near 16-month lows, analysts remain USD-JPY bullish on the yield differential basis, anticipating a move to 105.00. Support is now marked at 103.50, 102.90 and 102.53 (200-day moving average).
02:20 EDTFX Update: The euro has posted fresh lows
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August 26, 2014
14:55 EDTTreasury Closing Summary:
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13:20 EDTFX Action: USD-JPY ran out of juice at 104.17
FX Action: USD-JPY ran out of juice at 104.17, 10 points shy of Monday's trend peak. Japanese backed offers remain in place, into 104.30, while there has been some talk that the BoJ may upgrade economic forecasts at the next policy meeting, which may be keeping yen sellers at bay. Support is now seen at 103.75.
13:15 EDTTreasury Action: short yields stabilized following the 2-year
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13:10 EDTTreasury's $29 B 2-year sale was well sponsored
Treasury's $29 B 2-year sale was well sponsored and a little better than expected. The note stopped right on the screws at 0.530%. There were $100.9 B in bids for a 3.48 cover, better than July's 3.22 and the 3.37 average. Indirect bidders were awarded 39.8% compared to 27.0% previously and the 25.9% average. Direct bidders accepted 12.1% versus last month's 14.3%, while primary dealers were awarded 48.0% compared to July's 58.7%.
12:58 EDTWeek of 9/6 Redbook to be released at 08:55
12:58 EDTWeek of 9/6 ICSC-Goldman Store Sales to be released at 07:45
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12:50 EDTTreasury 2-year auction preview: the auction should be ok
Treasury 2-year auction preview: the auction should be ok, but not great. There has been no concession today with the wi trading at 0.535%, though that would still be the second cheapest stop since 2011. Domestic auction demand has been souring in general for much of this year, and quiet summer trading shouldn't help. Additionally, the FOMC is likely to start hiking rates around mid-2015. There should be good support, however, from overseas accounts, especially given the widening spread to European sovereigns and dovish commentary from ECB's Draghi. There's a 54 bp spread to the German Schatz, which trades in negative territory. That dynamic should bring in buyers. There's also a large redemption, and cash will be need to be put back to work. The July auction stopped at 0.544% and garnered a 3.22 cover (3.37 average) and a 27.0% indirect bid (25.9% average). Direct bidders took 14.3%, while primary dealers were awarded 58.7%.
11:55 EDTTreasury's $50 B 4-week bill sale was solid
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11:55 EDTNASDAQ options market resolved earlier system issues
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11:30 EDTU.S. equities extended gains with European shares
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11:25 EDTTreasury 2-year auction outlook: the $29 B auction should go ok
Treasury 2-year auction outlook: the $29 B auction should go ok despite the high probability of a rate hike around mid 2015. And the lack of a concession this morning could hurt at the margin too. Nevertheless, the wi trades at 0.535%, a little richer than July's stop, but would be the second highest award rate in several years. Additionally, the note is cheap on the curve at 187.5 bps versus the 10-year, and 197 bps a week ago. The auction could get some support from profit taking on those trades. Perhaps most importantly, it's at a 7-year wide at 54 bps compared to the German Schatz, where the yield is in negative territory. That should bring in a solid indirect bid. There is a large redemption too, which means some cash could be put back to work. The July auction stopped at 0.544% and garnered a 3.22 cover (3.37 average) and a 27.0% indirect bid (25.9% average). Direct bidders took 14.3%, while primary dealers were awarded 58.7%.
11:25 EDTEuro$ interest rate options: a large bearish position
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11:20 EDTNY Fed bought $2.275 B in notes
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10:55 EDTTreasury Action: eying up the 2-year yield
Treasury Action: eying up the 2-year yield over 0.50% ahead of the $29 B 2-year auction, sources believe that the wi-yield in the 0.53-0.54% area will get the deal done. That's about the same level as a 10-year JGB and half the level of the Bund, providing some relative value at a much shorter duration. In addition, some relative value against the curve and any profit-taking on curve flatteners could be flattering for the sale. Moreover, ahead of the long weekend some may also find solace in the short-end unless peace breaks out.
10:41 EDTCitigroup automotive analysts hold an analyst/industry conference call
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10:35 EDTFX Action: The dollar trended a bit higher
FX Action: The dollar trended a bit higher after the outsized gain in confidence, though reaction was limited overall. Yields barely budged, while Wall Street remains in positive territory. EUR-USD edged into 1.3190, as USD-JPY moved up to just shy of 104.00.
10:30 EDTThe August U.S. consumer confidence surge
The August U.S. consumer confidence surge to a 92.4 seven-year high from a prior cycle-high 90.3 (was 90.9) in July left a four-month stretch of readings above last year's June temporary high of 82.1. Consumer confidence has risen with consumption and payrolls, unlike other confidence gauges that mostly remain stuck below lean mid-2013 levels. Confidence has enjoyed a 2014 lift from rising equity and home prices, though confidence faces headwinds from a deteriorating geopolitical backdrop, limited credit availability, and disruptions from Obamacare. For other surveys, the Michigan sentiment index dropped to 79.2 from 81.8, versus an 85.1 cycle-high last July. The IBD/TIPP index fell to 44.5 from 45.6, versus a 54.0 cycle-high in October of 2012. The RBC-IPSOS index rose to 51.5 from 50.5, versus a 51.8 cycle-high in March that was also seen last June. The weekly Bloomberg Consumer Comfort index slipped in the first three weeks of August to a 36.5 average from a 37.1 cycle-high average in July, versus a 36.4 temporary high in July of 2013.
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