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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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| June 4, 2013 |
| 14:00 EDT |  | | Fed Policy has been Correct
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| 13:52 EDT | | | Averages just off worst levels of session
Each of the major equity indices is currently deep in negative territory, threatening the streak that has seen that market logs gains each Tuesday of the year. The averages moved to their worst levels after midday, with each of the averages currently down more than 0.6%. Declining stocks are ahead of advancing stocks by more than 2:1 while down volume is ahead of up volume by the same margin. Crude oil prices are higher by 0.4% and gold is lower by just less than 1%. The Dow is down 116 points, the Nasdaq is down 24 points, and the S&P is down 12 points. |
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| 13:40 EDT | | | Treasury Action: Treasuries have pretty much erased earlier losses
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| 13:16 EDT | | | Week of 6/15 Redbook to be released at 08:55
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| 13:16 EDT | | | May Consumer Price Index to be released at 08:30
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| 20:15 EDT | | | Housing Starts to be reported at 08:30
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| 13:16 EDT | | | Week of 6/15 ICSC-Goldman Store Sales to be released at 07:45
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| 12:55 EDT | | | Moderate Fed governor Bloom-Raskin sees progress in the labor market
Moderate Fed governor Bloom-Raskin sees progress in the labor market since the depths of the recession, but warned there's still further to go. She notes the unemployment rate remains too high and the official jobless rate underestimates the scope of the problem. Overall, these are relatively dovish remarks, though in line with what analysts would expect at this stage of the policy horizon. Her speech hasn't been posted online yet but can be found later on the Fed website. |
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| 12:35 EDT | | | U.S. equities stalled out after their early rise
U.S. equities stalled out after their early rise with little upside momentum ahead of Friday's key payrolls after little upside progress in Europe into their close, with the Euro Stoxx 50 only 0.29% higher. The trade report gave away little to investors in terms of the overall growth outlook, given our Q1 GDP forecast being nudged up to 2.6% to 2.4% including recent annual revisions. All major indices have now slipped back into the red and this is helping draw bond yields back down from highs. Among the biggest gainers were Merck +3.0%, Intel +2.3% and AT&T +1.2%, with the biggest losers Home Depot -1.2%, Chevron -0.8% and Boeing -0.5%. Up next is Fedspeak from moderate Bloom-Raskin, thought hawk George will reportedly only release her text. |
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| 12:27 EDT |  | | Large companies to campaign for corporate tax reform, Politico says
More than two dozen Fortune 200 companies are expected to launch a group that will campaign for corporate tax reform, according to Politico. Reference Link |
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| 12:25 EDT | | | Gundlach says opening floating rate fund to public in July
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| 12:25 EDT | | | Fed's George is sick
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| 12:13 EDT | | | Gundlach says Nikkei buying opportunity in 'mid-12,000s'
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| 12:10 EDT | | | Doubleline's Gundlach says Fed likely to buy fewer bonds as deficit shrinks
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| 11:46 EDT |  | | The Brookings Institution to host a webcast on the global economic outlook
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| 11:45 EDT | | | Treasury's $35 B 4-week bill sale wasn't great, relatively
Treasury's $35 B 4-week bill sale wasn't great, relatively. The bill was awarded at 0.04%, right on the screws at the bid deadline and a tad cheaper than the prior stop at 0.03%. Bids totaled $153 B for a 4.38 cover, up from 4.12 last week, helped by the $10 B cut in size, but below the 4.55 average. Indirect bidders took 20.6%, below the prior week's 38.2% as well as the 24.9% average. |
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| 11:10 EDT | | | NY Fed bought $3.3 B in notes
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| 11:05 EDT | | | Treasury Option Action: selling of volatility
Treasury Option Action: selling of volatility has crept into the mix, which could suggest some are looking for ranges to prevail ahead of the payrolls report Friday. Among these was a sale of 1k in Sep 129 puts/133 calls strangles with the Sep 10-year future at 129-10+ at the time of the trade vs the 129-19 to 129-08 range. The T-note appears to be stalling out below highs of 2.165% and slipping back under 2.15% now to 2.14%. |
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| 10:40 EDT | | | More Tweets from PIMCO's Gross:
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| 10:35 EDT | | | NY Fed is buying $2.75 B to $3.5 B in notes
NY Fed is buying $2.75 B to $3.5 B in notes dated from August 15, 2020 through May 15, 2023. The buyback hasn't provided much support for Treasuries. Yields are near their highs for the day with the 7-year note up over 3 bps at 1.56% and the 10-year yield nearly 4 bps higher at 2.156%. Reportedly there's been a large real money seller of 10s earlier. |
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