News Breaks |
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| January 16, 2013 |
| 07:31 EDT |  | | Standard & Poor's to host a conference
Insurance Hot Topics Conference is being held in Boston on January 16. |
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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 24, 2013 |
| 20:28 EDT |  | | April Consumer Credit to be released at 15:00
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| 18:59 EDT | | | Consumer Sentiment Index to be reported at 09:55
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| 18:59 EDT | | | Chicago PMI Business Barometer Index to be reported at 09:45
May Chicago PMI Business Barometer Index will be reported at 09:45 . Current consensus is 50.0 |
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| 18:59 EDT | | | Personal Income and Outlays Core PCE price index to be reported at 08:30
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| 18:59 EDT | | | Personal Income and Outlays PCE Price Index -- to be reported at 08:30
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| 18:59 EDT | | | Real GDP to be reported at 08:30
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| 18:59 EDT | | | GDP price index to be reported at 08:30
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| 18:59 EDT | | | Personal Income and Outlays Consumer Spending to be reported at 08:30
April Personal Income and Outlays Consumer Spending will be reported at 08:30 . Current consensus is 0.0% for the month |
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| 16:35 EDT | | | May Employment Situation to be released at 08:30
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| 14:03 EDT | | | Averages drift ahead of holiday weekend
Each of the major equity indices continues to drift in negative territory, as they've done for most of the final trading day ahead of the holiday weekend. Declining stocks are ahead of advancing stocks by more than 2:1 and down volume is just slightly ahead of up volume. Crude oil prices are roughly unchanged and gold is about 0.3%. The Dow is down 6 points, the Nasdaq is down 7 points, and the S&P is down 4 points. |
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| 13:45 EDT | | | Treasury Closing Summary:
Treasury Closing Summary: It was a rather dull shortened session to finish out a volatile week on Friday ahead of the long weekend. Fresh volatility in Japan overnight did not spill over to the U.S., though de-risking in Europe took place on peripheral bond yields even after core data in German was relatively firm. Durable goods orders stateside rebounded more than expected, but this didn't alter the balance much between stocks and bonds either, nor did a diverted Pakistani plane to UK's Stansted airport after an incident proved criminal and not terror-related, though the FX market squirmed a bit. Stocks cautiously leaned into negative territory for much of the session, while Treasury yields lingered laterally. |
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| 13:05 EDT | | | Action Economics Weekly Survey results:
Action Economics Weekly Survey results: there were some big market moves this week, and a lot was predicated on Fed policy expectations. In this environment, Fed outlooks will remain a major source of market volatility. And there are many key reports just on the horizon that will help policymakers judge the course of employment and the economy as a whole. Survey medians, however, don't suggest the FOMC's criterion of "substantial" improvement in the labor market are being fully met yet. Additionally, FOMC Minutes indicated many participants want more confidence in the outlook or need to see diminished downside risks before they would think that slowing the pace of asset purchases is appropriate. Again, if data come in as expected, it's doubtful that there will be much improvement in policymaker confidence on the economy, and hence no change in the policy stance for the foreseeable future. |
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| 12:30 EDT | | | Fed Policy Outlook: risks of a QE step down this quarter are very small
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| 12:00 EDT | | | Fedspeak is limited to doves next week
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| 11:25 EDT | | | Treasury Option Action: mostly put spread exits
Treasury Option Action: mostly put spread exits were the rule in today's shortened session and limited upside positioning on 5s and 10s, according to sources. Among these were a sale of 5k in Jul 130+ puts and a seller of 20k in Jul 127+/129 put spreads (seen as an exit). On the 5-year was a bullish buyer of 15k in Jul 123/123.25/123.5/123.75 call condors. Jun 10s are now 6.5-ticks firmer near 131-15, extending gains, compared to a 131-195 to 131-05 session range. |
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| 10:30 EDT | | | Treasury Supply: Treasury auctions $99 B in coupons in the shortened week
Treasury Supply: Treasury auctions $99 B in coupons in the shortened week. On tap are a $35 B 2-year offering (Tuesday), $35 B in 5-year notes (Wednesday) and $29 B in 7-year notes (Thursday). When issued yields are all lower heading into the long weekend. The 2-year cheapened slightly to 0.26%. The 5-year is 2 bps richer at 0.90%, with the 7-year down 3 bps at 1.38%. All rates are well above auction stops from last month, however, thanks to the big selloff of late. And though that cheapening is supportive, the bond market is on the defensive amid worries the Fed could start stepping down on QE sooner rather than later. There are also ongoing concerns over the weakening in Japan's bond market and possible spillover to Treasuries and indeed global sovereigns. Plus, recent auctions haven't garnered great results, not even the 2-year which should be supported by the likelihood rates will remain near zero into next year, if not later. However, growth is not taking off and there are still headwinds here and abroad that should sustain demand. It's also month-end and the Barclays' Treasury index is estimated to extend out 0.10 years, versus an average of about 0.06 years, which should support modestly. Analysts expect fairly average results. |
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| 10:05 EDT | | | Euro$ interest rate options: bearish call selling
Euro$ interest rate options: bearish call selling has been reported, with the "sale of 3k in Gold Jun 80/82 1x2s." This is largely in line with the weaker profile on the underlying short-dated rate contracts, as the Jun 2013 is flat near 99.73, while the deferreds are 0.5-1.0 ticks lower further out the curve. In terms of Libor, the 3-month dollar Libor rate was unchanged at 0.27275%, while the dollar Libor/OIS spread was also stuck at +15 basis points. |
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| 09:48 EDT | | | Market begins session lower
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| 09:33 EDT |  | | CBOE Volatility Index VIX is recently up 52c to 14.59
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| 09:05 EDT | | | Treasury Option Action: unwinding of bearish put spreads
Treasury Option Action: unwinding of bearish put spreads appears to be the main opening salvo in Treasury options. This included the "sale of 10k in Jul 127.5/129 put spreads, followed by another likely 10k in sales." Sources are characterizing this as a quick liquidation of a recent bearish bet. Jun 10s are a tick higher near 131-095 despite the firmer round of durables data, compared to a 131-16 to 131-05 range. |
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