Fed funds opened at 0.09% Fed funds opened at 0.09%. The rate ranged from 0.04% to 0.31250% on Monday with a 0.09% effective. The current 2-year note is the most special in the repo market at -2.35%. The 3-year is next at -1.90%.
House Energy & Commerce Committee to hold a hearing The Energy & Power Subcommittee holds a hearing entitled, "FERC Perspectives: Questions Concerning EPA's Proposed Clean Power Plan and other Grid Reliability Challenges" with FERC Acting Chairman LaFleur on July 29 at 10 am. Webcast Link
Early futures action suggests higher open U.S. equity futures are suggesting a slightly higher open for the broader market. Another round of solid earnings reports last night and the stabilization of the Russian stock market have made investors more comfortable about buying U.S. stocks. Investors will be watching the Case/Shiller Home Price report and the consumer confidence reading for additional clues about the economy.
On The Fly: Morning Wrap-Up for July 29 Globex S&P futures are recently down 2.50 from previous day’s SPX cash close. Nikkei 225 up 0.57%, DAX up 0.04%. WTI Crude oil is recently at $101.76, natural gas down 0.29%, gold at $1310 an ounce, and copper down 0.28%.
August front month equity options last day to trade August 15, 2014