New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 2, 2013
14:45 EDTMoody's: 'Cliff' deal not basis for meaningful improvement in U.S. debt ratios
Moody's Investors Service said that the fiscal package passed by both houses of Congress yesterday is a further step in clarifying the medium-term deficit and debt trajectory of the federal government. It does not, however, provide a basis for a meaningful improvement in the government's debt ratios over the medium term. The rating agency expects that further fiscal measures are likely to be taken in coming months that would result in lower future budget deficits, which are necessary if the negative outlook on the government's bond rating is to be returned to stable. On the other hand, lack of further deficit reduction measures could affect the rating negatively. Notably, yesterday's package does not address the federal government's statutory debt limit, which was reached on December 31. The need to raise the debt limit may affect the outcome of future budget negotiations. Moody's said the macroeconomic effects of the package are positive, since it averts the recession that would likely have occurred had personal income taxes gone up for all income levels. However, the increase in the Social Security payroll tax from 4.2% to 6.2% of income that became effective on January 1 will likely be a constraint on growth in coming quarters. Furthermore, expenditure cuts that may be decided in coming months could also affect the rate of GDP growth in the near term. Overall, therefore, the recent package mitigates part of the fiscal drag on the economy associated with the fiscal cliff but does not eliminate it. Moody's added that it believes that the debt limit will eventually be raised and that the risk of default on Treasury bonds is extremely low, this confluence of events adds uncertainty to the outcome of negotiations. However, the spending measures that result from the negotiations will form part of the medium-term outlook for the budget deficit. Moody's will need to consider these measures in assessing the rating outlook. Further revenue measures may also form part of the negotiations. The debt trajectory resulting from this process is likely to determine whether the Aaa rating is returned to a stable outlook or downgraded to Aa1, as Moody's previously stated.
News For NOSYMBOL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
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 | all recent NOSYMBOL news | >>
September 17, 2014
08:01 EDTThe Commodity Futures Trading Commission (CFTC) to hold an open meeting
Subscribe for More Information
07:56 EDTFDA to hold a public hearing on Generic Drug User Fee Amendments (GDUFA)
Subscribe for More Information
07:51 EDTFDA to hold a joint advisory committee meeting
Subscribe for More Information
07:49 EDTSecurities Industry & Financial Markets Association to hold a conference
Subscribe for More Information
07:40 EDTU.S. MBA mortgage market index rose 7.9%
Subscribe for More Information
07:35 EDTCitigroup to hold a conference
Travel & Leisure and U.K. Small & Mid-Cap Conference to be held in London, England on September 17-19.
07:35 EDTN.Y. FX Outlook
Subscribe for More Information
07:30 EDTTreasury Market Outlook: Treasuries are a little higher
Treasury Market Outlook: Treasuries are a little higher, in tandem with gains in global bonds, as the markets benefit from talk yesterday the FOMC might retain its "considerable time" phrase, as suggested by the WSJ's Fedwatcher Hilsenrath, and news of a liquidity injection by the PBoC to the 5 major Chinese banks. The 10-year Treasury yield has fallen to 2.565% after testing 2.62% on Friday. German Bunds are underperforming following an upward revision to August HICP inflation. U.K. Gilts shrugged off solid labor data and instead focused on the cautious tone on growth from the BoE Minutes. It's all about the nuances in the FOMC statement today. Data will be of interest, especially as the calendar includes August CPI stats, an important indicator for the Fed, but it won't have much impact on today's policy vote. The September NAHB homebuilder survey is also due, along with the Q2 current account, and weekly oil inventories. The MBA reported mortgage implications rebounded 7.9% for the week ended September 12. The NY Fed will not intervene today.
07:26 EDTFutures drift following yesterday’s advance
Subscribe for More Information
07:24 EDTCredit Suisse to hold a conference
Subscribe for More Information
07:23 EDTUBS to hold a conference
17th Annual Support and Business Services Conference to be held in London, England on September 17.
07:23 EDTWilliam Blair to hold a conference
Subscribe for More Information
07:20 EDTFX Update Narrow ranges have prevailed
Subscribe for More Information
07:01 EDTMBA Purchase Applications Composite Index data reported
Subscribe for More Information
06:48 EDTCurrency volatility elevated into Scotland voting for independence
CurrencyShares British Pound Sterling Trust September call option implied volatility is at 24, October is at 9, December is at 7; compared to its 26-week average of 8 according to Track Data, suggesting large price movement into Scotland voting for independence, potentially fracturing the U.K.’s 307-year union.
06:45 EDTEuro zone August inflation rate revised upwards. AP reports
Subscribe for More Information
06:43 EDTChina's central bank injects funds into banks, China Daily reports
China's central bank has injected $81B into the country's five largest banks, Sina.com reported, according to China Daily. Sina.com cited a banking analyst as its source for the news, China Daily stated. Reference Link
06:02 EDTOn The Fly: Morning Wrap-Up for September 17
Subscribe for More Information
04:30 EDTFX Action: USD-CAD extended below Tuesday's low
FX Action: USD-CAD extended below Tuesday's low to a six-day low of 1.0948. Better Canadian manufacturing data and a steadying in commodity prices have levels helped the CAD rebound, along with position squaring ahead of the FOMC. The March major-trend peak at 1.1278 back looks out of reach. Support is at 1.0920-33 (which encompasses a recent low). August CPI data on Friday will be the next domestic focus for the Loonie, which analysts expect to dip to 1.9% y/y from 2.1% y/y.
02:20 EDTFX Update: Narrow ranges prevailed
Subscribe for More Information
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 | all recent NOSYMBOL news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use