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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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December 17, 2014
14:00 EDTFederal Reserve keeps 'considerable time' phrase in statement
14:00 EDTFOMC preview: it's T-minus 10 and counting
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13:50 EDTTreasury Action: Treasuries continue to drift lower into the FOMC
Treasury Action: Treasuries continue to drift lower into the FOMC announcement, taking the path of least resistance. Even though the markets have been setting up for the likely removal of "considerable time" as the Fed inches toward rate hikes, curve flatteners dominate. The 5s-30s spread narrowed over 2 bps to a fresh year-to-date low at 115 bps. Assuming "considerable time" is replaced with language suggesting the FOMC will take a patient approach to rate hikes, and Yellen shows no urgency in normalization, bonds can recover with the curve steepening out slightly for the near term.
13:30 EDTFX Action: USD-JPY traded a few points over
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12:40 EDTU.S. Cleveland Fed's CPI edged up 0.1% in November
U.S. Cleveland Fed's CPI edged up 0.1% in November, in contrast to the BLS's -0.3% print. The 16% trimmed mean rose 0.1% too, but in line with the BLS measure. The annual rate on the Median CPI was unchanged at 2.3% y/y, with the 16% trimmed mean at 1.8% y/y versus 1.9% y/y previously, versus the slowing in the BLS headline to a 1.3% y/y clip from 1.7% y/y and the core to 1.7% from 1.8%. So pretty much no matter what method is used to look at inflation, price pressures are steady or are moving lower.
12:30 EDTU.S. equities jerked back to highs
U.S. equities jerked back to highs ahead of the FOMC decision, closely tracking the $3 recovery in NYMEX crude back above $58 bbl as Russia also appeared to get its financial house in order and engineer a sharp rebound in the ruble. That has slashed losses on European stocks, with the Euro Stoxx 50 back in the green, while Russia's RTS is 14.4% higher. Blue Chips are leading the surge, up some 1.25%, followed by the NASDAQ comp for a change with a 1.0% gain. Within the Dow it is no coincidence that Chevron +4.6% and Exxon +3.4% are among the top gainers. The historic thaw of relations between Cuba and the U.S., along with prisoner exchanges and travel policies no doubt helped fuel some optimism on the margin as well. The expected FOMC decision to replace "considerable time" with "patience" is also seen as pretty palatable and more a function of improving fundamentals than a levy on the markets, especially after tame CPI. Note, the VIX equity volatility index is 7.7% lower near 21.75, down from highs of 24.61. The dollar has bounced and Treasury yields are back near session highs.
12:20 EDTFX Action: USD-CAD has traded into 1.1610
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11:55 EDTU.S. swap spread narrowing has kicked in
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11:35 EDTFOMC Forecast revisions
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11:10 EDTFX Action: USD-CAD rallied to highs
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11:05 EDTDeutsche Bank Russian strategist/economist analyst/industry conference call
EMEA Economist Burgess, along with Chief Russian Strategist Pikulev, discuss their thoughts and trades on Russia on an Analyst/Industry conference call to be held on December 18 at 9 am.
11:00 EDTOil Action: NYMEX crude has bounced sharply
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10:55 EDTEuro$ interest rate options: mostly bullish positioning
Euro$ interest rate options: mostly bullish positioning has been spied ahead of the FOMC decision, implying that the statement could be pretty tame despite any expected changes from "considerable" to "patient". Among them were a 5k purchase of Short January 91/92 call spreads vs 85/86/87 put butterflies. Also, a 5k purchase of September 95 calls vs 91/93 put spreads, a purchase of 3k in Green January call 1x2s and sale of 15k in Green January 78 puts. The March 2015 contract is flat at 99.705, while the deferreds are up to 3.5-ticks lower out the curve.
10:45 EDTOil Action: Front month NYMEX crude fell to $54.80
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10:30 EDTCrude inventories for week of December 12
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10:10 EDTTreasury Option Action: more mixed positioning
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09:47 EDTMarket opens higher despite lower oil prices
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09:45 EDTThe unexpected U.S. current account widening
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09:30 EDTMinneapolis Fed's Kocherlakota will not seek another term
Minneapolis Fed's Kocherlakota will not seek another term, according to the Fed's website. His term expires on February 29, 2016. He took office in 2009 and initially followed the hawkish reputation of the regional bank. But he shifted his views toward a very dovish outlook in recent years and supported active central bank intervention which clashed with the traditional stance of the research staff. Indeed, the transformation has so great that he even dissented at the October FOMC meeting in favor of keeping rates lower for longer. It looks unlikely that he would have been supported for a second term. Hence, today will be his final voting opportunity.
09:15 EDTFX Action: USD-CAD stalled into Tuesday's 1.1665 highs in London trade
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