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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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August 18, 2014
11:05 EDTFX Action: USD-JPY has been supported
FX Action: USD-JPY has been supported by the better risk backdrop and equity market rally, though continues to struggle over 102.55-60. Pent up Japanese exporter offers remain in place, reportedly from 102.70 to 103.00. Barring fresh geopolitical shocks, USD-JPY remains on a broadly bullish path. Bloomberg reported last week that BoJ officials are considering cutting growth forecast for FY 2014, "according to people familiar with the central bank's discussions," and the JGB 10-year benchmark yield has dipped below 0.50% for the first time in 16 months, both supportive of the dollar.
10:25 EDTNY Fed outright purchase: the Fed is buying $0.95 B to $1.15 B in bonds
NY Fed outright purchase: the Fed is buying $0.95 B to $1.15 B in bonds today, dated from February 15, 2036 through August 15, 2044. Treasuries remain lower, giving back some of last week's gains, and this purchase isn't likely to offset the selling pressure much. The 30-year yield is up nearly 4 basis points to 3.169% after closing at 3.13% on Friday, the lowest since May 2013.
10:20 EDTSharp gains in the NAHB were focused in the Midwest
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10:10 EDTTreasury Action: Treasuries leaked lower
Treasury Action: Treasuries leaked lower after the pre-release of the better than expected gain in NAHB, though with stocks already on the warpath higher, the data had only marginal impact. The T-note yield nosed over 2.37% to session highs of a tight range, though well above 14-month lows of 2.30% set Friday before peace allegedly broke out during truce talks on the Ukraine. Next upside targets are 2.40-2.44%. The 2s-10s spread is holding near +196 bp.
10:05 EDTU.S. NAHB homebuilder sentiment index rose 2 points to 55 in August
U.S. NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). Data are better than expected.
09:45 EDTU.S. NAHB housing market index preview:
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09:39 EDTMarket gaps higher at open
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09:30 EDTFX Action: USD-CAD is steady
FX Action: USD-CAD is steady, holding over 1.0975, while running into sellers over 1.0890. Standing bids are seen from 1.0875 down to Friday's 1.0860 lows, though sell stops are rumored below the level. To the upside, option backed sellers are reported at 1.0900, with buy-stops at 1.0930, just over Friday's peak. Oil prices are lower again, perhaps weighing some on the CAD, though a strong Wall Street open may offset to a degree.
09:25 EDTEuro$ interest rate options: a large block trade
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09:15 EDTTreasury Action: curve flatteners should be back on the ticket
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08:54 EDTBofA/Merrill economist & strategist hold an analyst/industry conference call
Chief U.S. Economist Harris and Chief U.S. Equity Strategist Bianco provide a weekly equity strategy outlook on an Analyst/Industry conference call to be held on August 18 at 11 am.
08:52 EDTCitigroup securitized products analysts hold analyst/industry conference call
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08:50 EDTU.S. equities are higher with Europe
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08:49 EDTCitigroup healthcare services and managed care analysts hold a conference call
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08:01 EDTTD Securities to hold a conference
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08:00 EDTMacquarie to hold a conference
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08:00 EDT"Fed bets rate rise can wait" is the banner
"Fed bets rate rise can wait" is the banner headline for WSJ Fedwatcher Hilsenrath's Sunday night expose' (subscription) previewing the Jackson Hole conclave this week, as officials say indicators and markets aren't pointing to overheating. He notes the conference will mainly cover the labor markets, which Yellen is likely to acknowledge are improving, though she may stick to her "slack" theme. He also mentions that 30 private economists in a WSJ survey fear the Fed will get behind the curve on rates, compared to 3 who say the Fed could move too early. That said, after long rates hit a 14-month low on Friday amid global turmoil, Hilsenrath acknowledges that bond markets don't appear to have lost faith in the Fed. Meanwhile, core PCE prices at 1.6% y/y spent 26-months below the Fed's 2% objective. While, the "considerable time" reference may go at some point, the Fed will continue to await more proof on the durability of the recovery, he concludes.
07:59 EDTCRM Magazine to hold a conference
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07:55 EDTTreasury Market Outlook: Treasuries declined overnight
Treasury Market Outlook: Treasuries declined overnight, in tandem with losses in European debt, as risk appetite picked up. Profit taking also weighed on bonds after the 10-year Treasury yield closed at its lowest level in more than a year, and the German Bund hit an historic record low at 0.95%. The 10-year yield has edged up a couple of basis points to 2.364%, with the Bund at 1.0%. Equities have rebounded with Germany's DAX leading the way in Europe, climbing over 1.4%. U.S. equity futures are also sharply higher as worries over Ukraine subside and after the Kurds gained some ground over ISIS. Also, BoE chief Carney sounded more hawkish in a Sunday Times interview. Data was light overnight and is thin in the U.S. today with just the August NAHB homebuilder sentiment index. The NY Fed will purchase $0.95 B to $1.15 B in bonds today. Other data this week includes uly CPI (Tuesday), July housing starts (Tuesday), July existing home sales (Thursday), the August Philly Fed manufacturing index (Thursday), and the Markit flash manufacturing PMI. But what the markets are really waiting for are the FOMC Minutes (Wednesday) and Yellen's and Draghi's speeches from Jackson Hole (Friday).
07:55 EDTOil Action: NYMEX crude is down 82 cents
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