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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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| May 20, 2013 |
| 10:25 EDT |  | | NY Fed outright purchase: the Fed is buying the usual $1.25 B to $1.75 B in bonds
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| 10:15 EDT | | | Further Weakness Ahead in U.S. May:
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| 10:13 EDT | | | Averages mixed, S&P little changed in early trading
The muted futures action in the premarket session gave way to a slightly lower open for the broader market, but the averages have climbed back early in the session. Acquisition news, including Yahoo's (YHOO) purchase of Tumblr for $1.1B and Actavis' (ACT) agreement to buy Warner Chilcott (WCRX) in a $8.5B stock deal, have dominated the early news, especially given the very light economic calendar. A bit over a half hour into the session, the Dow is down 12 points, the Nasdaq is up 4 points and the S&P is virtually unchanged. |
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| 10:05 EDT | | | Treasury Option Action: a large FIT steepener
Treasury Option Action: a large FIT steepener is reportedly working its way through the market with bullish purchases of 30k in Jun 124 calls and a bearish sale of 25k in Sep 123.75 calls on 5-year futures against bearish "purchases of 10k in Sep 127/128 put spreads and 10k in Sep 127.5/128.5 put spreads" on 10-year futures. Meanwhile, 10-year futures continue to rally, now up 4-ticks near 131-315 compared to a 132-035 to 131-22 range. |
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| 09:40 EDT | | | FX Action: USD-JPY dipped into 102.35
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| 09:33 EDT |  | | CBOE Volatility Index VIX is recently up 78c to 13.23
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| 09:15 EDT | | | Japan government panel warned on QE
Japan government panel warned on QE, according to a Reuters article. The advisory group to Fin Min Aso worries that investor demand will not be sustained and that yields will spike higher as a result, which in turn could be a drag on long term growth prospects. Of course the JGB market has already seen yields surge since early April from 0.42% when the aggressive buybacks were outlined, to as high as 0.85% on Friday. |
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| 09:10 EDT | | | Treasury Option Action: a large 5-year position in overnight trade
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| 08:40 EDT | | | U.S. Chicago Fed's National Activity Index dropped further to -0.53 in April
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| 08:40 EDT | | | U.S. equities are slightly lower to start the week
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| 08:34 EDT |  | | Morgan Stanley's analysts hold an analyst/industry conference call
Analysts discuss the evolution of enterprise data center requirements on an Analyst/Industry conference call to be held on May 20 at 11 am. |
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| 08:20 EDT | | | Fed funds opened at 0.11%
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| 08:20 EDT | | | More Fedspeak still to come this afternoon
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| 08:10 EDT | | | FX Action: USD-CAD consolidated Friday's gains
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| 08:08 EDT | | | BofA/Merrill's Senior Turkey-MENA Economist holds a conference call
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| 08:05 EDT | | | Fed's Fisher said he would have started QE tapering at the last FOMC meeting
Fed's Fisher said he would have started QE tapering at the last FOMC meeting on April 30, May 1 (via MBS), in comments on CNBC. Of course Fisher has been one of the most hawkish on the FOMC and has been arguing against QE for some time, but importantly, he is not a voter in 2013. He doesn't want to go from "wild turkey" on asset purchases, to "cold turkey" by halting QE -- when to dial back is key as just halting buybacks would be "too violent" for the markets. Chairman Bernanke's major concern is the efficacy of QE. He noted, as analysts've done, that asset buying has helped stocks, but wonders whether it's worked in the economy. He does not see broadbased deflation. The Dallas Fed president continues to aruge against Dodd-Frank, saying it's too complicated. Fisher would like to see Bernanke remain Chairman, avoiding answering a question who will be the next Chairman. But one thing he does know for sure is that it will not be he. Nothing really new from the always engaging Fisher. |
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| 07:50 EDT | | | Treasury Market Outlook: Treasuries have caught a small bid
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| 07:38 EDT | | | BofA/Merrill to host a field trip
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| 07:28 EDT | | | Futures pointing to modestly lower open to start week
Stock index futures are slightly lower ahead of a trading day that will feature little domestic economic data. The day's lone notable report, the Chicago Fed's National Activity Index for April, is due out at 8:30 am ET and had a prior reading of -0.23. |
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| 07:26 EDT | | | CFA Institute to host annual conference
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