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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 26, 2015
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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10:30 EDTEIA Natural Gas Storage Change for the week ending March 20
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10:25 EDTTreasury Action: yields have migrated higher
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10:15 EDTTreasury 7-year auction outlook
Treasury 7-year auction outlook: the $29 B sale completes this week's auctions after yesterday's poor 5-year sale offset Tuesday's solid 2-year offering. Traders contacted are concerned that today's results will be again be on the disappointing side. The wi trades at 1.765% which is the top of the range from a 1.66% low. Nevertheless, a stop there would be the second richest yield since May 2013, and that may be a limiting factor. These auctions also have a tendency to tail. On the other hand, risk-off flows could give some support, along with some front running of month- and quarter-end (fiscal year-end for Japan) trades. Barclays' estimates its index extension at 0.09 years. The note also often rallies after the 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%.
09:45 EDTTreasury Option Action: a mixed bag
Treasury Option Action: a mixed bag in early trade included bullish purchases of 1.5k in April 165/166 call spreads on bonds and 1k in May 121/121.5 1x2 call spreads on 5-year futures, along with a bullish "screen" sale of 3k in May 126/127/128 put butterflies on 10s. On the bearish side was a purchase of 1k in April 128 puts on 10-year futures. June 10s are 9-ticks lower near 128-17 compared to their 129-02 to 128-16 range so far.
09:33 EDTMarket opens lower, extending yesterday’s selloff
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09:25 EDTU.S. equities are still on the defensive
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09:20 EDTHouse Appropriations Committee to hold a hearing
The Commerce, Justice, Science and Related Agencies Subcommittee holds an oversight hearing entitled, "Federal Investments in Neuroscience and Neurotechnology" with Executive Director of the Neurotechnology Industry Organization, Zack Lynch is being held on March 26 at 10:30 am. Webcast Link
09:01 EDTGoldman to hold a seminar
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09:00 EDTU.S. growth revisions may pose a challange for the Fed
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