News Breaks |
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| December 12, 2012 |
| 12:55 EDT |  | | Fed announces new securities purchases, monetary policy criteria
The Fed's Open Market Committee announced that it would buy $45B of "longer term" Treasury securities per month after its initial program of buying such securities expires at the end of December. Furthermore, the central bank will continue to reinvest principal payments from its current holdings into agency mortgage-backed securities. Moreover, the Fed will resume rolling over maturing Treasury securities at auction and continue buying $40B of additional mortgage backed securities per month. The Fed will continue buying securities if the employment outlook doesn't improve in coming months, the committee added. As expected, the Fed left the target range for the federal funds rate at 0%-0.25%. In a new step that had been discussed as a possibility but not necessarily expected by analysts, the central bank adopted monetary policy thresholds. The Fed anticipates that it will keep interest rates exceptionally low "at least as long as the unemployment rate remains above 6.5%, inflation one or two years in the future is projected to be no more than 0.5% above the Fed's 2% long-term goal, and longer-term inflation expectations remain well-anchored." The Fed had previously said that rates would remain exceptionally low through at least mid-2015. As far as the economy, the central bank stated that the economy continues to expand at a moderate pace, excluding weather events. Household spending has continued to increase, but business' investments have slowed, the Fed reported. As usual, one committee member, Jeffrey Lacker, voted against the Fed's action. |
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News For NOSYMBOL From The Last 14 Days Check below for free stories on NOSYMBOL the last two weeks. |
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| May 21, 2013 |
| 16:00 EDT | | | Canadian Retail Sales Preview.
Canadian Retail Sales Preview. Our projection is for a 0.3% rise in March retail sales (median +0.1%) when the data is released on Wednesday. It follows a 0.8% gain in February. The ex-autos sales aggregate is projected to rise 0.2% (median +0.2%). And a 0.3% rise in sales volumes is expected, which would be consistent with a 0.1% gain in March GDP after the 0.3% gain in February GDP. |
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| 15:35 EDT | | | Treasury Closing Summary:
Treasury Closing Summary: A round of surprisingly dovish Fedspeak from hawkish St. Louis Fed's Bullard dissauded some bond bears from their position and boosted equities on Tuesday, coming just a day ahead of Bernanke testimony. Moves weren't overly dramatic, but sufficient to inject a little 2-way risk at yield range highs. Fed's dovish Dudley chimed in too, anticipating the end of QE once labor market gains are sufficiently strong, but both were wary of negative fiscal drags and vigilent over low inflation. |
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| 14:50 EDT | | | Treasury Action: yields are lower this afternoon
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| 14:10 EDT | | | More Dudley: recent inflation data had gotten the Fed's attention
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| 14:06 EDT | | | Averages near highs of day
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| 13:30 EDT | | | Fed's Bullard doesn't see a good case for QE taper unless inflation rises
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| 13:15 EDT | | | And now for dovish NY Fed's Dudley
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| 13:05 EDT | | | Week of 6/1 Redbook to be released at 08:55
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| 13:05 EDT | | | April International Trade to be released at 08:30
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| 13:05 EDT | | | Week of 6/1 ICSC-Goldman Store Sales to be released at 07:45
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| 12:45 EDT | | | More from Fed hawk Bullard: Fed could take rates to negative
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| 12:40 EDT | | | Perhaps NY Fed dove Dudley will flip
Perhaps NY Fed dove Dudley will flip to the hawkish camp after hawkish Bullard sounded very dovish earlier? Not very likely. But analysts'll get a chance to find out at 13 ET when Dudley addresses a "Lessons at the Zero Bound" discussion by the Japan Society in NY. Analysts believe that however these preliminary Fedspeakers shake out, Bernanke is still in no rush to exit QE prematurely, which could continue to buy the bond market a little reprieve tomorrow. Indeed, the T-note yield just marked session lows under 1.94% even though stocks are back near highs thanks to Bullard earlier. |
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| 11:50 EDT | | | Treasury's $45 B 4-week bill auction was well received
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| 11:50 EDT | | | Treasury Action: yields continued to drift lower
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| 11:25 EDT | | | Treasury Option Action: upside positioning on bonds
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| 11:10 EDT | | | NY Fed bought $3.31 B in notes
NY Fed bought $3.31 B in notes dated from August 2020 through May 2023. The Street offered $13.1 B.The buyback, and resistance important levels, contained the updraft in yields. The 10-year yield has dipped from a 1.996% high to 1.97% currently. The 7-year note has slid to 1.328% from 1.35% earlier. |
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| 10:45 EDT | | | U.S. equities have rotated lower now
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| 10:40 EDT | | | FX Action: USD-CAD cleared last Friday's highs
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| 10:30 EDT | | | PIMCO's Gross on Twitter again:
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| 10:25 EDT | | | NY Fed outright purchase: the Fed is buying between $2.75 B and $3.5 B in notes
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