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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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| June 18, 2013 |
| 13:40 EDT |  | | FOMC has started its meeting
FOMC has started its meeting and will announce its decision tomorrow at 2:00 ET. The markets remain on pins and needles over what will happen to QE, case in point yesterday's volatility amid contradictory media reports (analysts continue to argue, and the FT's Harding also stated, journalists have no inside information, so comments should be taken with a grain of salt). Analysts don't look for any explicit signals on the timing of a pull back in asset purchases, though analysts do think the time is approaching. As all policymakers have indcated, the future course of QE is data dependent. So far analysts don't believe the economic reports have been sufficiently strong to give the dovish "Bernanke block" the confidence needed to start trimming QE yet. Probably of most importance with Wednesday's FOMC actions will be the new forecasts for this year and next, which will provide background on the Fed's outlooks. Analysts suspect the Fed could shave its forecasts on growth and prices for this year, which could suggest QE trimming could be a little farther off than anticipated, though analysts note the September 17, 18 FOMC could be the start, provided data don't disappoint. |
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| 13:17 EDT | | | Week of 6/29 ICSC-Goldman Store Sales to be released at 07:45
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| 13:10 EDT | | | FOMC Forecast revisions
FOMC Forecast revisions from the June FOMC meeting will be released Wednesday (and later in the July 10 FOMC minutes). Analysts expect a lowering of the Fed's near-term GDP and inflation forecasts, with a possible additional downward bump in jobless rate estimates. The mix should give a pessimistic spin to the growth and inflation estimates, and and consequently support expectations that imminent tapering is unlikely. For 2013, the GDP central tendency of 2.3%-2.8% could be lowered by 0.1% to more symmetrically bracket the 2.4% real Q4/Q4 GDP gain that analysts and many others assume, just as the PCE chain price central tendency of 1.3%-1.7% could be trimmed toward our 1.5% estimate. The 1.5%-1.6% PCE core central tendency hugs our 1.5% forecast. The 7.3%-7.5% jobless rate central tendency sits below the last 7.6% figure and brackets our 7.4% Q4 forecast. High-end estimates for 2014 and 2015 for GDP and inflation might also be trimmed. For a table of our assumptions for the Fed's revised forecasts, see our policy outlook page. |
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| 12:32 EDT | | | Fitch affirms Switzerland at 'AAA', outlook stable
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| 11:50 EDT | | | Treasury's $30 B 4-week bill auction was routine
Treasury's $30 B 4-week bill auction was routine. The bill was awarded at 0.045%, right on the screws at the bid deadline and a little cheaper than last week's 0.04% stop. There were $137.9 B in bids for a 4.61 cover, in line wiht last week's 4.63 and close to the 4.57 average. Indirect bidders took 17.5% versus last week's 24.7% and a 23.9% average. |
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| 11:45 EDT | | | Another Tweet from PIMCO's Gross:
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| 11:38 EDT |  | | BMO Capital's specialty pharma analyst holds an analyst/industry conference call
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| 11:30 EDT | | | U.S. equities are extending gains
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| 11:15 EDT | | | NY Fed bought $1.464 B in bonds
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| 11:05 EDT | | | FX Action: USD-JPY is consolidating earlier gains
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| 10:25 EDT | | | NY Fed outright purchase: the Fed is buying $1.25 B to $1.75 B in bonds
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| 10:23 EDT |  | | Gain in Chinese home prices adds to dilemma on credit, Bloomberg says
Chinese property values increased in major cities at the fastest pace in more than two years despite tougher government curbs, making it more difficult for the country to ease credit amidst a weakening economy, says Bloomberg. Reference Link |
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| 10:05 EDT | | | Fed Outlook: market anxiety over tomorrow's outcome notched a bit higher
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| 10:03 EDT | | | Market opens with moderate gains
Stock futures improved slightly during the pre-market trading session, leading to a higher open for the broader market. Reports on consumer prices and building permits were largely in-line with expectations, while housing starts were a bit below expectations. Trading may be light ahead of the Fed meeting, which begins today and concludes tomorrow with a statement and a planned press conference from Fed chairman Ben Bernanke, which will be closely watched and dissected. About 30 minutes into the session, the Dow is up 45 points, the Nasdaq is up 10 points and the S&P is up 2 points. |
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| 09:50 EDT | | | Today's U.S. reports
Today's U.S. reports revealed only a small May housing starts rebound after a big April drop, with expected bounces in the multi-family sector and starts in the south, but persistent restraint for single-family starts and activity in the Midwest and Northeast. Analysts saw a restrained round of May CPI figures, with a 0.149% headline gain that rounded down from market estimates, but a 0.167% core figure that rounded-up. Neither report altered the overall outlook, as housing is still on track for a persistent recovery, and inflation was restrained in May before a gasoline price rise into June that will likely lift the CPI and PPI headlines to the 0.4%-0.5% area with the next monthly round of reports. |
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| 09:34 EDT |  | | CBOE Volatility Index VIX is recently down 5c to 16.75
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| 09:30 EDT | | | Treasury Action: yields remain moderately higher
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| 09:25 EDT | | | The U.S. housing starts report revealed a disappointingly small May starts bounce
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| 09:25 EDT | | | Treasury Action: bullish put spread selling
Treasury Action: bullish put spread selling appears to be fading the downleg in prices vs 10-year futures, according to sources. This included a sale of 1.5k Aug 128/128.5 put spreads vs 10s and bullish purchase of 1k in Sep 130.5/132 call 1x2s. Sep 10s are about 9-ticks lower near 129-01 compared to a range of 129-10 to 128-30. |
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| 09:23 EDT | | | UBS U.S. leisure analyst holds an analyst/industry conference call
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