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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 22, 2013 |
| 10:25 EDT |  | | FX Action: The dollar added to previous losses
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| 10:25 EDT | | | The 0.6% April U.S. existing home sales rise
The 0.6% April U.S. existing home sales rise to a 4.970 M recent-high pace left a rate that slightly exceeded the prior recent-high 4.960 M pace in November, following tiny recent wiggles that left rates of 4.940 (was 4.920) M in March and 4.950 M in February. Analysts have a restrained 14% existing home sales rise since September of 2011, versus larger comparable gains of 22% for pending home sales and 36% for new home sales, as existing home sales continue to post only a reluctant cyclical climb despite strength in other housing measures. In contrast, the median price continues to overperform other price measures thanks to a shift in the mix of sales to higher priced homes. Analysts still expect GDP growth of an unrevised 2.5% in Q1 and 2.0% in Q2, with an unrevised 12.6% Q1 growth rate for real residential construction that is followed by a 28% pace in Q2. For the remaining April reports, analysts expect a 3.1% rise in new home sales to a 430k rate, and a 0.9% construction spending rise despite a 0.4% April drop in construction hours-worked. |
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| 10:20 EDT | | | Treasury Action: yields continued to stretch lower
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| 10:15 EDT | | | U.S. existing home sales rose 0.6% to 4.970 M in April
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| 10:12 EDT | | | Bernanke says monetary stimulus must continue
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| 10:10 EDT | | | Fed Chairman Bernanke warned against premature tightening of policy
Fed Chairman Bernanke warned against premature tightening of policy as it would "carry substantial risk of slowing or ending the economic recovery and causing inflation to fall further." So no tapering anytime soon. He continues to say QE is providing "significant benefits" and has helped offset "incipient deflationary pressures." The Chairman also reiterated the FOMC statement that fiscal policy has become "significantly more restrictive." The Fed is going to keep on trucking. |
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| 10:09 EDT | | | Market fueled higher by Bernanke prepared remarks ahead of testimony
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| 10:02 EDT | | | Bernanke says 'premature tightening' could carry 'substantial risk'
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| 10:02 EDT | | | Existing Home Sales data reported
April Existing Home Sales up 9.7% for the year |
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| 10:02 EDT | | | Existing Home Sales data reported
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| 10:01 EDT | | | Existing Home Sales data reported
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| 09:36 EDT |  | | CBOE Volatility Index VIX is recently down 11c to 13.26
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| 09:35 EDT | | | U.S. Existing Home Sales Preview
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| 09:20 EDT | | | Treasury Option Action: mixed positioning ahead of Bernanke
Treasury Option Action: mixed positioning ahead of Bernanke has been reported, including a bearish "purchase of 2k in Aug 126/128/130 put butterflies and 3k in Jul 129 puts." On the bullish side of the ledger was a "purchase of 5k in Jul 132 calls." Jun 10-year futures are 3-ticks firmer near 132-00, compared to a 132-045 to 131-285 range so far. |
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| 09:15 EDT | | | Fed Chairman Bernanke testifies before the JEC at 10:00 ET
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| 09:00 EDT | | | U.S. equities have firmed up
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| 08:37 EDT | | | Futures remain quiet ahead of market open
Stock futures continue to trade quietly ahead of the opening of the broader market. Investors will be anxiously awaiting the release of the minutes from last month’s FOMC meeting, and they will be looking for clues about any changes in fiscal policy. Chicago Fed Governor Charles Evans may have hinted at some changes in Fed policy earlier in the week when he said the central bank was discussing how and when to possibly end its latest round of quantitative easing. His statements have put investors on watch for any possible change in monetary strategy at the Fed. |
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| 08:30 EDT | | | Canadian Retail Sales Preview.
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| 08:20 EDT | | | Fed funds opened at 0.09%
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| 08:05 EDT | | | FX Action: USD-CAD firmed up in overnight trade
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