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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 27, 2015
15:10 EDTTreasury Closing Summary:
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14:50 EDTFOMC preview: Fed meets Tuesday and Wednesday
FOMC preview: Fed meets Tuesday and Wednesday. While no policy changes are expected, the focus will be on the statement and the nuances in the forward guidance language that analysts doubt will provide any clarity on rate liftoff. However, it will be very interesting to see what the Fed says in place of the statement from March that "the Committee judges that an increase in the target range for the federal funds rate remains unlikely at the April FOMC meeting." They probably won't be so forthcoming about the June meeting especially since they will stress the policy path is data-dependent. Nevertheless, assuming policymakers acknowledge yet further slowing in growth after saying in March that "growth had moderated somewhat," the markets should infer that rate liftoff in June is highly unlikely. Look for the Fed to also suggest, however, that some of the slowing is a function of transitory factors and that underutilization of labor resources continues to diminish. Also, there could be some sign of optimism over rising inflation after the March CPI as well. All this should leave the door open for a move on rates some time this year. Analysts peg it in September.
14:40 EDTTreasury Action: Treasuries are broadly unchanged in "wait and see" mode
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14:06 EDTAverages lower in afternoon trading
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13:55 EDTU.S. corporate bond update: issuance will add to an already busy week
U.S. corporate bond update: issuance will add to an already busy week of events, supply, and data. A relatively heavy calendar has been a significant factor weighing on bonds of late. Headlining today is PepsiCo's 4-trancher, including 3-year fixed and floating, a 5-year and a 10-year. Also, Micron Technology plans a $1 B 2-parter including a 9-year and an 11-year. Texas Instruments is offering $500 M in 5s. This week's issuance is estimated at about $25 B as the Fed, data, and Treasury supply may be keeping some sidelined. Last week $60 B priced, the third time this year that volume has been above $60 B. March totaled $92 B. Credit spreads have been flat to slightly lower in recent sessions.
13:15 EDTTreasury 2-year auction was routine, but leaned little to the soft side
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13:15 EDTTreasury Action: short yields steadied below highs
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13:05 EDTNASDAQ is rolling over
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12:55 EDTU.S. 2-year technicals: at 0.525% is roughly mid-range
U.S. 2-year technicals: at 0.525% is roughly mid-range of its April 0.464% to 0.579% bracket, which is 0.5215% to be exact. The 2-year yield has been in a descending wedge pattern from highs near 0.735% on March 6, caught between the inversion of European yields with QE and the telegraphed unwind of Fed ZIRP. With risk of any major lift-off hints from the Fed remote this week, look for the rangetrade to continue, using 0.5215% as a pivot for now, while the 100-day m.a. of 0.5891% could provide a draw on any snap-backs or upside economic surprises against the grain.
12:50 EDTTreasury 2-year auction preview:
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12:25 EDTFX Action: USD-JPY is on N.Y. session lows of 119.01
FX Action: USD-JPY is on N.Y. session lows of 119.01, as the dollar overall suffers from broad selling on Monday. The Fitch downgrade of Japan overnight had little impact, resulting in a brief USD-JPY pop to 119.42 from near 119.20. The pairing remained over 119.20 through mid-morning in N.Y, though has since eased into the figure, as the greenback makes session lows versus the other major currencies. Analysts suspect the USD may be in for further selling into the FOMC announcement, where the market prices in more dovish undertones from the Fed.
11:45 EDTTreasury $48 B 3- and 6-month bill auction was stronger than expected
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11:41 EDTCerberus has hired IPO bankers for Safeway, CNBC says
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11:30 EDTTreasury Option Action: bearish put positioning
Treasury Option Action: bearish put positioning has been spotted in the 5-year sector with a purchase of 6k in 117.50 puts on June 5-year futures. June 5s are 4-ticks lower near 120-165 compared to their 120-23 to 120-145 session range as the European stock rally takes a toll on bulls ahead of the FOMC.
11:15 EDTJanus's Gross posted a double-Tweet:
Janus's Gross posted a double-Tweet: "(1/2) Funny how bonds were labeled 'certificates of confiscation' in the early 80's. (2/2) What should analysts call them now when many interest rates are negative?" Bill, might analysts suggest: PPRF or "pillaging pensioners retirement funds?"
11:10 EDT4-Week Bill Announcement Offering Amount data reported
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11:10 EDTTreasury announced a $30 B 4-week bill sale for Tuesday
Treasury announced a $30 B 4-week bill sale for Tuesday. This is a 4th straight week at this level. It brings this week's auction volume to $208 B, including the $90 B in coupons, today's $48 B in 3- and 6-month bills, Tuesday's $25 B in 52-week bills, and Wednesday's $15 B 2-year FRN. Front end supply might be a difficult sell ahead of Wednesday's FOMC decision too.
11:10 EDTFX Action: USD-CAD touched three month lows
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11:00 EDTU.S. Dallas Fed's manufacturing index remained weak at -16.0 in April
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10:45 EDTEuropean stocks gathered a head of steam
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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 | 29 | 30 | 31 | 32 | all recent NOSYMBOL news | >>

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