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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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April 16, 2014
14:03 EDTBeige book suggests economic activity increased in most regions
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13:45 EDTAnd now Fed hawk Fisher: moving in the right direction
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13:45 EDTFed Beige Book preview:
Fed Beige Book preview: the anecdotal report of regional activity across the 12 Federal Reserve Districts (March through early April) should reflect some bounce back from the weather depressed conditions from earlier in the year. But it shouldn't reveal any big surprises given the boilerplate nature of the report and the gradual nature of growth. The general characterization of growth has been "modest to moderate" for some time now, and analysts don't look for that to change. The March report said the general outlook was "optimistic" and that should hold too. There should be a pick up in sales and manufacturing after the hit from weather. Housing probably improved, albeit only modestly, and commercial real estate likely expanded further. Employment should have improved as well, with ongoing shortages of skilled workers. Wages and prices probably remained relatively steady.
13:35 EDTYellen takeaways: her comments revealed her dovish leaning
Yellen takeaways: her comments revealed her dovish leaning, with no hint of a time-frame to rate hikes as she continues to back away from that rookie fumble in the March 19 presser. The Fed chair is still very concerned about the sluggish recovery and the slack in the labor market, and stressed that price pressures are more likely to remain low than to accelerate. It looks as though rates are going to remain low for quite some time, perhaps into 2016. Stocks have extended gains on her comments, which have in turn nudged yields a little higher. However, yields remain below where they printed following the March 19 FOMC press conference.
13:30 EDTYellen Q&A: a wide variety of indicators
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13:25 EDTMore from Yellen:
More from Yellen: the Fed is mindful of the spillover effects as accommodation is removed. But she noted the timing of policy moves and challenges of policy are different for different countries. Europe is returning to growth at a modest pace, but is more challenged by its banking sector problems. Like Bernanke before her, she didn't really take any responsibility for the problems faced by other economies to the Fed's actions (remember Bernanke just got into a war of words with RBI chief Rajan on this issue).
13:20 EDTYellen Q&A: labor market has been perplexing with respect to historical norms
Yellen Q&A: labor market has been perplexing with respect to historical norms. In answering what role the Fed can play, she said the FOMC's accommodative policy stance has been the most effective. In the public sector, more training will be helpful. Answering a question on whether the Fed would be willing to raise the funds rate above the inflation rate, she responded of course the Fed will be "very focused" on removing accommodation when the time comes (that's going to be a judgment call).
12:45 EDTTreasury Action: Yellen was largely as dovish as advertised
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12:40 EDTFed Chair Yellen reiterated the guidance change wasn't a policy change
Fed Chair Yellen reiterated the guidance change wasn't a policy change in her speech on Monetary Policy and the Economic Recovery, adding the Fed is committed to accommodation. The Fed's new guidance relies on a wide range of factors, but rates will stay low for a longer time if jobs and inflation miss their targets. The recovery has come a long way though is still far from maximum employment and wage gains are still proceeding at an historically slow pace. It's plausible the Fed hits its goals by the end of 2016 she noted. She's also more concerned over low inflation than a substantial rise above the 2% mark. While this speech didn't have quite the political tone of her prior comments, the remarks here show her to be still firmly on the dovish side.
12:40 EDTFX Action: USD-JPY has been steady
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12:30 EDTYellen discusses 'continuing commitment' to accommodation
Fed Chair Janet Yellen said in a speech at the Economic Club of New York, "In other words, the larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained. This approach underscores the continuing commitment of the FOMC to maintain the appropriate degree of accommodation to support the recovery. The new guidance also reaffirms the FOMC's view that decisions about liftoff should not be based on any one indicator, but that it will take into account a wide range of information on the labor market, inflation, and financial developments."Reference Link
12:25 EDTWeek of 4/25 MBA Purchase Applications to be released at 07:00
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12:25 EDTU.S. assets are turning higher into Yellen's speech
U.S. assets are turning higher into Yellen's speech with some speculation that she'll reiterate her dovish themes on the ongoing shortfall on the jobs and inflation fronts. The T-note yield has edged lower from 2.66% to the 2.64% area, while the NASDAQ is over 1% higher now and dollar-yen is having a look at 102.36 session highs again.
11:20 EDTNY Fed bought $1.018 B in bonds
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11:05 EDTEuro$ interest rate options: some smaller bearish trades
Euro$ interest rate options: some smaller bearish trades have been reported in an otherwise pretty quiet session so far in terms of flows. These included the purchase of 2k in Green Dec 72/77 put spreads vs the sale of an 82 call, and a purchase of 5k in Green Jul 75/76/78 broken put butterflies. Jun 2014s are flat near 99.77, while the deferreds are up to 4-ticks lower out the strip.
10:35 EDTNY Fed outright purchase: Fed is buying $0.9 B to $1.15 B in bonds
NY Fed outright purchase: Fed is buying $0.9 B to $1.15 B in bonds. The small buyback won't offset much of the losses in Treasuries where the long bond yield is up over 2 bps to 3.48%.
10:30 EDTCrude Inventories for the week of April 11
Crude oil inventories 10.0M build vs. consensus of 1.75M build. Gasoline inventories 154K draw vs. consensus of 1.75M draw. Distillates 1.28M draw vs. consensus of flat.
10:20 EDTToday's U.S. reports
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10:15 EDTFX Action: USD-CAD fell to 1.0960
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09:55 EDTMarket opens sharply higher as earnings season picks up
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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 | all recent NOSYMBOL news | >>

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