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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 11, 2016
11:35 EDTYellen on risks from negative rates and from tightening too soon
Yellen on risks from negative rates and from tightening too soon. The Fed Chair said she's been surprised at the extent of the move to negative rates in come countries. She doesn't believe there have been pass-through to savers (taxing them). Negative rates were adopted overseas due to worries over disinflation. While the Fed considered negative rates back in 2010, the Committee was worried then about the impacts on money markets and the various institutional details (more a matter of due diligence). The Fed was also not clear whether clearing systems could handle negative rates. Meanwhile, there was a memo in 2010 noting that the legal issues had not been vetted, although Yellen said she was not aware of any restrictions. She also said policy normalization was not being undertaken for its own sake. Rather, it is being conducted to achieve the FOMC's twin objectives. Policymakers believed late last year that the growing economy warranted a gradual rise in rates. And she said the Fed "absolutely" considers global events when making policy decisions.
11:20 EDTTreasury announced a $7 B 30-year TIPS sale for next Thursday
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11:15 EDTStocks have resumed their slide as Yellen speaks
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11:15 EDTYellen on policy path and negative rates:
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11:08 EDT3-Month Bill Announcement Offering Amount data reported
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11:08 EDT6-Month Bill Announcement Offering Amount data reported
6-Month Bill Announcement Offering Amount at $30.0 B
11:07 EDT30-Yr TIPS Announcement CUSIP Number data reported
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11:07 EDT30-Yr TIPS Announcement Offering Amount data reported
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10:55 EDTMore from Yellen: the Fed is seeing some pick up in wage growth
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10:45 EDTYellen Q&A: the FOMC is monitoring the Phillips Curve relationship
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10:40 EDTTreasury Action: the rebound in yields
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10:30 EDTEIA Natural Gas Storage Change for the week ending February 05
Gas Inventories 70 Bcf draw vs. consensus of 77 Bcf draw.
10:20 EDTFed Chair Yellen is reprising her testimony from yesterday
Fed Chair Yellen is reprising her testimony from yesterday, this time before the Senate Banking Committee. It's the Q&A that will be of importance. Given the meltdown in global equities, in part on the uncertainty over the potential adoption of negative rates, as well as on the bearish impacts of falling oil prices, especially on emerging markets and the possible spillover to developed markets. Analysts'll also listen for any clarity on the policy path and whether March is still on the table, though Yellen should stick to the script of data dependency.
10:10 EDTU.S. VIX equity volatility index surged 10%
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10:10 EDTFX Action: USD-CAD managed a seven-session high of 1.4013
FX Action: USD-CAD managed a seven-session high of 1.4013 earlier, which came in concert with oil prices hitting their low of $26.25. With WTI crude now on session highs of $27.35, the pairing has eased back into1.3920. The market will be watching the 50-day moving average at 1.3960, with a close above the level seen as a bullish development.
09:55 EDTEuro$ interest rate futures perked up
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09:46 EDTBloomberg Consumer Comfort Index Level data reported
Week of 2/7 Bloomberg Consumer Comfort Index Level at 44.5
09:44 EDTMarket plummets at open
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09:35 EDTTreasury 30-year bond outlook: the auction should see mixed results
Treasury 30-year bond outlook: the auction should see mixed results amid the big flight to quality trade that has richened the entire Treasury complex. The $15 B bond offering completes the February refunding. The wi yield has dropped sharply with the rate having tested 2.385% overnight, thought it has popped up to 2.45%. These are areas not seen since last February. And indeed, a stop here would be the lowest since January 2015. The lack of concession has inhibited some demand for the first two legs of the refunding and could for today's sale too. Yet, demand for yield and the wide differentials to core sovereigns should underpin in general. There should be good buying too from natural buyers. The January auction stopped at 2.905% and garnered a 2.29 cover (2.33 average) and a 56.5% indirect bid (55.4% average).
09:20 EDTEnergy Action: NYMEX crude briefly reclaimed the $27/bbl handle
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