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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 23, 2015
11:10 EDTTreasury announced a $40 B 4-week bill auction for Tuesday
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11:10 EDTTreasury Action: curve flatteners are likely to dominate near term
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11:08 EDT4-Week Bill Announcement Offering Amount data reported
4-Week Bill Announcement Offering Amount at $40.0 B
10:40 EDTThe 4.9% U.S. existing home sales drop
The 4.9% U.S. existing home sales drop to a 4.82 M January clip left an ugly start for 2015, as did a 4.1% January median price drop to $199,600 that extended the late-2014 seasonal downswing from the $222,000 June cycle-high. Inventories posted an anemic 0.5% January bounce to a still-depressed 1.87 M level that marks a 0.5% y/y drop. Existing home sales have entered 2015 at an anemic pace and inventories remain depressed, while prices continue to post a modest cyclical climb but with gains seasonally concentrated into Q2 of each year. Analysts now have cyclical gains of just 40% for existing home sales and 32% for pending home sales, versus larger cyclical gains of 72% for new home sales, 123% for housing starts, and 105% for permits. Harsh weather may hold back sales in February and March, as this gauge tracks closings and may show a delayed response to January and February storms. Weather likely had little to do with January weakness, as sales declines extended across the four regions, and the biggest drop was a 7.1% decline in the West where weather was normal.
10:15 EDTU.S. existing home sales dropped 4.9% in January to a 4.82 M rate
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10:15 EDTTreasury Action: yields continued to slide lower
Treasury Action: yields continued to slide lower with the opening declines in stocks and the weak print on existing home sales, which have caught the markets offsides. Considering that mortgage rates fell to trend lows again in January, there must be some winter freeze effects in the data that are offsetting the near historic low rates. The T-note yield probed just below 2.07% compared to highs in Asia of 2.136% and 2.141% on Friday after the Greek deal, with lower highs suggesting downward momentum building and putting Friday lows of 2.045% within reach. The 2s-10s spread narrowed to +146 bp.
10:00 EDTU.S. existing home sales preview:
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09:50 EDTTreasury Option Action: bullish positioning
Treasury Option Action: bullish positioning included the purchase of 5k in June 129.5 calls on 10-year futures, with March 10s some 13-ticks firmer near 127-26 relative to their 127-265 to 127-135 range on Globex.
09:43 EDTFutures improve slightly but market begins week lower
U.S. equity futures were lower overnight but improved slightly prior to the open of the broader market. The Chicago Fed national activity index was generally in-line with expectations and investors will next turn their attention to the release of the existing home sales report, which is due out at 10:00 am EST. Ahead of the housing data, the Dow is down 65 points, the Nasdaq is down 1 point and the S&P is down 5 points.
09:40 EDTU.S. Producer Sentiment Still Lean, though Shipments and Inventories Bounce:
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09:35 EDTFX Action: USD-CAD rallied to highs last seen on February 12
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09:20 EDTDA Davidson construction analyst holds an analyst/industry conference call
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09:15 EDTEuro$ interest rate options: bullish positioning
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09:00 EDTU.S. equities are back on the defensive
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08:59 EDTJPMorgan U.S. fixed income analysts hold an anlayst/industry conference call
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08:54 EDTCFA Society of Seattle to hold a discusison
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08:52 EDTThe Heritage Foundation holds a discussion on monetary policy
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08:51 EDTBrookings Institution holds a discussion
Brookings hosts a discussion entitled, "The Future of Medical Device Safety & Innovation" in Washington, D.C. on February 23 at 9 am. Webcast Link
08:45 EDTU.S. Chicago Fed National Actvity index rebounded to 0.13 in January
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08:38 EDTFDA Pharmacy Compounding Advisory Committee to hold a meeting
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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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