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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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July 9, 2014
14:25 EDTFed minutes show differing views on policy, inflation outlook
Members of the Federal Open Market Committee had widely different views on the outlook for monetary policy and inflation during the committee's last meeting, minutes of the meeting show. A number of participants said that monetary stimulus might have to be removed more gradually if the economy fails to generate above-trend growth later this year. "A couple" of members suggested that the central bank may need to strengthen its commitment to maintain enough stimulus to increase inflation to a level in-line with the committee's target. But "some other" participants worried that economic growth over the medium term could be faster than expected and called for the Fed to move more rapidly towards increasing interest rates. Participants generally agreed that the bank's asset purchases would end later this year. As for the economy, members agreed that the economy was rebounding in the second quarter. According to the committee, longer run inflation expectations remained stable, and most participants viewed the risks to the outlook for the economy, the labor market, and inflation as broadly balanced. Capital spending appeared poised to increase, while a number of participants reported that business loans in their districts had expanded. Inflation appeared to have moved up from low levels, and some members expected inflation to accelerate and saw upside risks to inflation. But other members remained concerned about what they saw as persistently low inflation.
14:20 EDTTreasury Action: yields ratcheted higher still
Treasury Action: yields ratcheted higher still after the FOMC minutes entertained the end of bond buying and various components of its exit strategy (IOER, reverse repo), along with acknowledgment of firmer sectors in the economy, though they also forecast inflation remaining below the 2% target and disinflation risks in Asia and Europe. The latter comments helped cap the T-note yield after it cleared 2.60% from the 2.59% area prior to the minutes.
14:20 EDTFX Action: The dollar briefly picked up some ground
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14:15 EDTFOMC Minutes to June 17, 18 meeting didn't offer much new insight
FOMC Minutes to June 17, 18 meeting didn't offer much new insight on policy amid an ongoing debate on policy normalization. There weren't any indication of a policy change anytime soon as many officials think there's more slack in the labor market than suggested by the unemployment rate. Some were also concerned by soft retail sales, and many were surprised by the weakness in Q1 GDP. Nevertheless, the pace of QE is likely to continue at $10 B per meeting, but could end in October with a $15 B reduction. The economy is expected to bounce back and most members see balanced risks on growth, jobs, and inflation. It looks as though paying interest on reserves will be the primary tool of normalization for now.
14:02 EDTFed sees ending bond-buying program in October, minutes show
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14:00 EDTTreasury Action: FOMC Minutes are just ahead
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13:34 EDTWeek of 7/18 MBA Purchase Applications to be released at 07:00
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13:25 EDTFX Action: USD-CAD continues to move in a narrow trading band
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13:25 EDTU.S. Wholesale Trade Preview:
U.S. Wholesale Trade Preview: May wholesale trade data is out on Thursday and the headline should increase 1.0% (median 0.7%) for the month with inventories up 0.7%. Data in line with this forecast would leave the I/S ratio steady at 1.18 for a third month. The already released factory goods data had orders down 0.5% with inventories up 0.8%.
13:20 EDTTreasury's $21 B 10-year reopening was quite poor, as feared
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13:20 EDTTreasury Action: yields jerked higher
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12:40 EDTTreasury 10-year auction preview
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12:00 EDTEuro$ interest rate options: mixed positioning remains the rule
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11:40 EDTFOMC Minutes preview:
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11:15 EDTU.S. corporate debt: a lean calendar
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11:10 EDTOil Action: Front month NYMEX crude fell to $102.50 from near $102.60
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10:30 EDTCrude Inventories for the week of July 4
Crude oil inventories 2.37M draw vs. consensus of 2.5M draw. Gasoline inventories 579K build vs. consensus of 400K draw. Distillates 227K build vs. consensus of 1.4M build.
10:10 EDTTreasury Action: yields are holding below highs
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10:10 EDTFX Action: USD-JPY stumbled slightly
FX Action: USD-JPY stumbled slightly after its attempt over 101.70, where talk of Japanese exporter backed selling was heard. Activity overall however, remains relatively light. Support is seen into 101.50, though should the pairing be able to chew through offers, stops are rumored from 101.80.
09:45 EDTU.S. equities opened higher
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