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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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May 14, 2015
12:45 EDTU.S. bond technicals: yields backed up
U.S. bond technicals: yields backed up over a half percentage point on the cash bond from early April lows near 2.44% to May highs of 3.128% before steadying back near 3.055% currently heading into the $16 B auction results shortly. Thanks to the repricing of Bunds this has created quite a wide gap with both the 2.615% 200-day and 2.857% 100-day moving averages, which does leave some room for a mean reversion if not a bearish sea change in bond market sentiment. Near-term ranges are defined by Wednesday lows of 2.958% and Tuesday highs of 3.128% to set the next directional leg.
12:40 EDTTreasury 30-year auction preview: outlooks are mixed
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11:45 EDTFX Action: USD-CAD has been on the rise
FX Action: USD-CAD has been on the rise, touching 1.1997 highs as oil prices slip nearly $1/bbl to near $59.80. Gold prices have eased from session highs as well, as the greenback overall regains some poise following the continuation of recent weakness seen overnight. USD-CAD made four-month lows of 1.1920 in London, though solid fund, option and corporate buying interest, reportedly layered into the 1.1900 mark, stopped the decline. The dip in oil prices has since prompted some short covering.
11:45 EDTTreasury/Bund Option Action: mixed flows have featured
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11:10 EDTTreasury announced a $48 B 3- and 6-month bill auction for Monday
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11:06 EDT10-Yr TIPS Announcement Min Bid Amount data reported
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11:06 EDT10-Yr TIPS Announcement CUSIP Number data reported
10-Yr TIPS Announcement CUSIP Number at 912828H45
11:05 EDTFly Audio player needs to be restarted
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10:45 EDTU.S. factory data revisions show a wide mix on the monthly numbers
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10:30 EDTEIA natural gas storage change for week ending May 8
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10:30 EDTA classic Twitter exchange on QE and art sales:
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10:25 EDTFed Policy Outlook: a June Fed rate hike is off the table
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09:55 EDTToday's U.S. reports
Today's U.S. reports revealed April PPI declines of 0.4% for the headline and 0.2% for the core, though analysts also saw a lean 264k initial claims level in the second week of May that left an encouraging mix of morning data overall. As seen with yesterday's trade price report, domestic energy prices remain depressed despite a WTI bounce, as core prices continue to drop in the face of a firm dollar and a weak global economy. Tight claims suggest upside risk to our 215k May payroll estimate, though analysts face downside risk from factory sentiment weakness and a lean ADP path.
09:39 EDTDow jumps in early trading after jobless claims sink to 15-year low
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09:30 EDTTreasury Futures Action: 10s are still holding a bid
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09:25 EDTThe 0.4% U.S. April PPI drop
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08:50 EDTThe 1k U.S. initial claims downtick to a lean 264k
The 1k U.S. initial claims downtick to a lean 264k in the second week of May trimmed the prior week's 3k uptick to 265k to leave claims oscillating near the 262k cycle-low at the end of April. Claims are well below the 296k April BLS survey week reading, and have resumed the cyclical downtrend that became obscured in early-April by a temporary spike attributable to clumsy Easter seasonal factors. Claims are averaging just 264k in May, following higher prior averages of 281k in April, 285k in March, 306k in February and 290k in January. Next week's BLS survey week reading looks poised to undershoot prior BLS figures of 296k in April, 293k in March, 285k in February, and 301k in January. Analysts expect a 215k May nonfarm payroll gain that sits close to the 223k April rise but that beats the lean 85k March increase and the 184k Q1 average. Payrolls face upside risk from a tightening claims trajectory and heightened consumer confidence in the face of lower gasoline prices, though downside risk from factory sentiment weakness and a lean ADP trajectory through the 169k April rise.
08:50 EDTU.S. equities remained on a firmer tack
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08:45 EDTU.S. PPI fell 0.4% in April with the core sliding 0.2%
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08:45 EDTTreasury Action: yields dipped only briefly
Treasury Action: yields dipped only briefly following the drop in headline and core PPI, as another small drop in jobless claims from already low levels helped offset the disinflationary news. That still shows the Fed missing on its inflation mandate and making further progress on employment. The T-note yield ticked below 2.25% briefly before rebounding over 2.26%, compared to the 2.29-2.24% overnight range. The 2s-10s spread has narrowed back inside +170 bp.
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