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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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May 12, 2015
13:15 EDTTreasury 3-year auction was very strong
Treasury 3-year auction was very strong. The note stopped through at 1.000% versus 1.010% at the bid deadline (and compares to April's 0.865%). Bids totaled $80.1 B for a 3.34 cover, better than last month's 3.25 and the 3.29 average. And it ties February for the highest cover since October. Indirect bidders took a hefty 52.7%, versus 49.4% previously and the 39.1% average, the best since December 2009. Direct bidders were awarded 11.6%, in line with April's 11.1%, while primary dealers took 35.7% versus 39.5% previously.
13:15 EDTTreasury Action: yields scampered lower still
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13:00 EDTFed's Williams said he prefers rate liftoff "starting a bit earlier"
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12:50 EDTFX Action: USD-JPY has bottomed at 119.79
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12:40 EDTTreasury 3-year auction preview: there's increased optimism on the auction
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12:10 EDTOPEC raised world oil demand growth forecasts
OPEC raised world oil demand growth forecasts to 1.18 M/bpd from 1.17 M/bpd in their monthly report earlier, looking for further strengthening in demand into 2015. OPEC lifted its 2015 crude oil demand forecast to to 29.32 M/bpd from 29.27 M/bpd. It left non-OPEC supply growth steady at 680k/bpd and cut U.S. production forecasts by 40k/bpd to 700k/bpd. At the same time OPEC output increased 18k/bpd to 30.84 M/bpd thanks to increased Saudi, Iraq and Iran pumping, while the Saudis expect to product 10.308 M/bpd in April compared to 10.294 M in March. Overall this news earlier helped keep NYMEX crude supported over $60 bbl.
12:05 EDTFX Action: USD-CAD touched session lows of 1.1979
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11:45 EDTTreasury $40 B 4-week bill auction was well received
Treasury $40 B 4-week bill auction was well received. The bill tailed slightly, however, stopping at 0.010% versus 0.005% at the bid deadline. There were $157.7 B in bids for a solid 3.95 cover, which is a little better than last week's 3.83 and the 3.78 average, even with the $10 B increase in size. Indirect bidders took 31.4%, almost double last week's 16.0%, and above the 27.9% average.
11:30 EDTU.S. VIX equity volatility gapped higher
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11:20 EDTU.S. corporate bond update: though corporates have been jumping in
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10:50 EDTEuro$ interest rate futures are quite mixed
Euro$ interest rate futures are quite mixed with the near-dates making up some lost ground as stocks remain heavy, but the deferreds remain underwater on the mini-margin call tantrum on bonds of late. The December 2015 contract is 1-tick higher at 99.405, while the deferreds range from +1 tick higher to 3.5-ticks lower out the curve. SF Fed dove Williams is due later, but is likely to reprise his fairly upbeat views on the economy, which won't necessarily offer much relief to the rate complex.
10:40 EDTTreasury Option Action: bearish positioning in the belly
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10:15 EDTU.S. JOLTS report showed job openings fell 150k to 4,994k in March
U.S. JOLTS report showed job openings fell 150k to 4,994k in March after a 179k increase in February to 5,144k (revised from +168k to 5,133k), which was a 14-year high. The job openings rate slipped to 3.4% versus 3.5% previously. Hirings increased 56k following a revised 17k gain in February (was -78k). The rate was steady at 3.6% (February was revised from 3.5%). There was a 63k rise in quitters after a 59k drop previously (revised from -92k). The quit rate edged up to 2.0% from 1.9%. The data are old and don't tell anything new, so the market focus will remain on the big swings in prices.
10:08 EDTJOLTS Job Openings data reported
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10:00 EDTTreasury Option Action: "high-delta" put demand
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09:38 EDTStocks follow lead of bond markets lower
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09:35 EDTOPEC discredited WSJ article on future oil prices
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09:26 EDTArgus healthcare analyst holds an analyst/industry conference call
Healthcare Analyst Toung, along with Research Director Kelleher, discuss the economy and markets, and factors including demographics, rising healthcare utilization and the Affordable Care Act on an Analyst/Industry conference call to be held on May 13 at 11 am.
09:25 EDTU.S. small business optimism rose 1.7-points to 96.9 in April
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09:20 EDTTreasury 3-year auction outlook: the auction could be sloppy
Treasury 3-year auction outlook: the auction could be sloppy given the big price moves of late. And demand could be somewhat limited amid the massive global disgorging in bonds, though most of the weakness has been at the long end. Indeed, some trading sources believe the big run up in rates should bring in decent demand. The wi 3-year rate surged over 5 bps in Asian action overnight to hit 1.065%, but it's faded to 1.040% currently. It traded as rich as 0.93% on Friday. Supporting the auction should be this concession. A stop here would be one of the cheapest this year, though it traded as high as 1.104% in March. Also there is a $3 B paydown for the entire refunding, so there is a lot of money being put back to work. The 3-year is the tightest issue in repo at -1.54%. Fed rate liftoff expectations have also been pushed back from June. Many may also want to own this issue versus the 10s or 30s, on sale Wednesday and Thursday, respectively. Indirect bidding should remain solid, especially with negative yields on many short dated European notes.However, the selloff and the liquidity issues may leave some potential buyers sidelined. The April note sold at 0.865% and garnered a 3.25 cover (3.29 average) and a 49.4% indirect bid (39.1%).
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