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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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September 17, 2014
14:21 EDTFed cuts 2015 GDP growth forecast to 2.6%-3% from 3%-3.2%
14:20 EDTFed maintains 2014 inflation forecast of 1.5%-1.7%
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14:20 EDTTreasury Action: yields reversed higher
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14:20 EDTFX Action: The dollar spiked higher
FX Action: The dollar spiked higher after the FOMC announcement, despite the Fed keeping the "considerable time" phrase. Yields moved higher, as equities moved from positive to negative, and back to positive again. EUR-USD fell from 1.2960 to 1.2897, as USD-JPY ran up to 108.18 from 107.60. The dollar appears to be moving on the back of divergent central bank policies, as the BoJ and ECB are both still in easing mode, wile the Fed moves toward tightening, albeit at a snail's pace.
14:19 EDTFed lowers 2014 unemployment forecast to 5.9%-6% from 6%-6.1%
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14:18 EDTFed retains 'considerable time' language in policy statement
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14:18 EDTFed lowers 2014 GDP growth outlook to 2%-2.2% from 2.1%-2.3%
14:15 EDTThe FOMC kept the "considerable time" phrase regarding interest rates
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14:03 EDTFed says indicators suggest 'significant underutilization' of labor resources
The Fed statement read, "On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources."
14:02 EDTAugust Construction Spending to be released at 10:00
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14:02 EDTSeptember ISM Mfg Index to be released at 10:00
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14:02 EDTSeptember ADP Employment Report to be released at 08:15
14:02 EDTWeek of 9/26 MBA Purchase Applications to be released at 07:00
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14:02 EDTFed lowers monthly bond purchases by $10B
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14:00 EDTFed keeps 'considerable time' language in statement
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14:00 EDTT-Minus 10 and counting to the FOMC statement
T-Minus 10 and counting to the FOMC statement. Treasuries are in positive territory ahead of the statement and the SEP release. The Committee will alter its forward guidance to some extent, but will it lean to the dovish or the hawkish side is the question. Longer dated maturities are outperforming in a bullish curve flattening trade on speculation Chair Yellen and Co. will remain relatively friendly and retain the "considerable time" language. Additionally, there's expectation for slight downward revisions to some of the growth forecasts, as well as inflation estimates. Analysts think it would behoove policymakers to drop the date-dependent language sooner rather than later to provide more policy flexibility going forward.
13:45 EDTFOMC Forecast revisions
FOMC Forecast revisions will be revealed today, in tandem with the policy statement (and later in the October 8 FOMC minutes). The revisions should prove modest, though analysts do expect small downward bumps in high-end GDP growth estimates for 2014 and 2015, alongside a modest trimming in high-end headline and core PCE chain price forecasts for both years as well. There is little need for adjustment to the jobless rate and Fed funds rate forecasts. The Fed will also add 2017 to its forecast horizon, and analysts expect GDP growth estimates to show a moderation in growth toward the 2.6% long-term trend growth estimate, alongside a further upward-convergence of low-end inflation forecasts toward 2%, and a small cyclical drop in the jobless rate estimates to a band around 5.1%. Analysts assume that Fed GDP estimates will remain modestly above most market forecasts, just as the inflation estimates continue to be skewed lower. For a table of our assumptions for the Fed's revised forecasts, see our policy outlook page.
12:30 EDTTreasury Option Activity: a little flurry on 10-year options
Treasury Option Activity: a little flurry on 10-year options included bearish purchases of 35k in October 123/123.5 put spreads over the course of the session. Earlier there were bullish purchases of 10k December 127 calls as well. Some delta covering took place at 124-125 and 124-13, according to sources. December 10s are trading hands 3.5-ticks firmer near 124-105, compared to their 124-155 to 124-06 range.
11:40 EDTFX Action: The dollar has firmed up some
FX Action: The dollar has firmed up some versus the European majors and the yen, with EUR-USD taking out the London low of 1.2944, and easing into 1.2938, and USD-JPY on intra day highs over 107.60. The euro had touched 1.2981 in the aftermath of the cooler CPI data, as USD-JPY made 107.15 lows. Activity is likely to slow into the FOMC announcement, though it appears the market is leaning toward a relatively hawkish tone from the Fed.
11:30 EDTCleveland Fed's Median CPI inched up 0.1% in August
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | all recent NOSYMBOL news | >>

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