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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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November 13, 2014
14:15 EDTTreasury Action: yields settled lower
Treasury Action: yields settled lower after the brief selling bout following the damp 30-year auction results, in line with deteriorating stocks ahead of the close. The widening of the budget gap came as no surprise, though inside our survey median. The T-note yield reversed from 2.37% earlier, stopping shy of 2.384% Asian highs before drifting back below 2.35% to session lows.
14:00 EDTFX Action: USD-JPY managed 115.81 highs
FX Action: USD-JPY managed 115.81 highs in morning trade, before easing back to 115.54. Since the London close, the pairing touched a 115.82 peak, and has subsequently dropped off to 115.56 lows. Offers at 115.90-116.00 are said to be on the heavy side, and price action would seem to confirm that today. The pullback has also been helped by Wall Street turning negative, after it was poised for decent gains earlier. Support is expected into 115.50-30 now.
13:50 EDTU.S. Treasury budget preview:
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13:35 EDTTreasury Option Action: some vol selling on bonds
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13:27 EDTMarket-Vector Russia ETF Trust volatility increases as shares trend lower
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13:15 EDTTreasury's $16 B bond sale was ugly and was the worst of the 3 auctions
Treasury's $16 B bond sale was ugly and was the worst of the 3 auctions. The 30-year tailed to 3.092% versus the 3.085% at the bid deadline. There were only $36.7 B in bids for a 2.29 cover, below both the 2.40 for the $13 B reopening and the 2.42 average. In fact it's the lowest since the May 2014 sale. Indirect bidders took 43.8% versus 46.2% in October and the 44.7% average. Direct bidders took 13.8%, below the prior 21.5%, while primary dealers were awarded 42.5% compared to October's 32.2%. The only good thing to say about the auction is that it finishes the November refunding.
13:15 EDTTreasury Action: long yields popped back up
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13:05 EDTFed Chairwoman Yellen nothing to say
Fed Chairwoman Yellen nothing to say vis-a-vis monetary policy or the economic outlook in welcome remarks before a Global Research Forum in NY sponsored by the ECB, Fed and NY Fed. Nothing to see here, move right along to the 30-year auction results.
12:50 EDTPhilly Fed hawk Plosser is waxing philosophical
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12:50 EDTTreasury 30-year auction preview:
Treasury 30-year auction preview: Treasury's 30-year auction may not go much better than the first two legs, especially given the lack of an outright concession today. However, there has been an increase in investment fund demand, and that may help carry the day today. The wi trades at 3.085%, though 1 bp cheaper than last month's $13 B reopening, a stop here would be the second richest in a year. That may limit the aggressiveness of domestic buyers. However, with spreads to core global sovereigns near historic wides, and a bias for further easing from the ECB and BoJ, foreign demand could be decent. The soft inflation trends are also supportive. The October reopening (for $13 B) was awarded at 3.074% and garnered a 2.40 cover (2.42 average) and a 46.2% indirect bid (44.7% average). Direct bidders took 21.5% and primary dealers were awarded 32.2%. The August refunding issue stopped at 2.60% and saw a 2.60 cover and a 45.9% indirect.
12:35 EDTTreasury Action: the next big item on the docket is the FOMC Minutes
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12:10 EDTOil Action: Front month NYMEX crude tested $75.0
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12:05 EDTOil Action: Front month NYMEX crude tested $75.0
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11:55 EDTU.S. equities rolled back over again
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11:15 EDTTreasury announced a $13 B 10-year TIPS reopening for next Thursday
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11:04 EDTCrude Inventories for the week of November 7
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10:20 EDTFX Action: USD-CAD is on intra day highs
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10:10 EDTOil Action: NYMEX crude
Oil Action: NYMEX crude has posted fresh trend lows, trading under November 4 base of $75.84, and touching $75.66 lows so far. Traders now look for a push toward the key $75/bbl region.
10:06 EDTJOLTS Job Openings data reported
September JOLTS Job Openings at 4.735M vs. consensus of 4.800M
09:55 EDTFX Action: USD-JPY has edged up
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