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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 2, 2016
15:00 EDTTreasury Closing Summary:
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14:30 EDTU.S. Non-Manufacturing ISM Preview
U.S. Non-Manufacturing ISM Preview: The January ISM-NMI is out Wednesday and is expected to fall to 55.1 (median 55.3) from 55.8 in December. Other measures of January producer sentiment have been depressed which could spell downside risk for the late month releases as analysts discussed in our January 25th commentary. Broadly, analysts expect the ISM-adjusted average of all measures to drop to a three year low of 49 in January.
14:00 EDTJapan's MoF is reportedly canceling its 10-year JGB sale to retail
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13:59 EDTMarket moves to fresh session lows
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13:35 EDTFed accepted $80.13 B in daily reverse repos
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13:25 EDTTreasury Action: predictably hawkish words from Fed's George
Treasury Action: predictably hawkish words from Fed's George had little net impact on Treasury yields, which have steadied near lows, since stocks remain under pressure and were hardly reassured by the view the "Fed should keep tightening" and is behind the curve. The 2-year yield is consolidating over 0.760% after sinking from 0.795%, while the 10-year yield steadied near 1.87% after rolling over from 1.94% in Asia. That's left the 2s-10s spread very flat at +111 bp.
11:50 EDTTreasury's bill auction results were mixed but tended to the soft side
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11:50 EDTFX Action: USD-JPY plumbed fresh intra day lows
FX Action: USD-JPY plumbed fresh intra day lows of 120.16 earlier, though as Wall Street comes off its lows, has moved back over 120.40. Last Friday's post-BoJ gap up from 118.50 to near 121.70 is being noted now, as outlier moves tend to be retraced over time. The pairing has recorded its second day of lower intra day highs, unwinding more than 1/3 of Friday's gains. Further erosion of the risk backdrop could see further yen appreciation going forward.
11:30 EDTU.S. VIX equity volatility has been tame
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10:15 EDTU.S. IBD/TIPP economic optimism index rose to 47.8 in February
U.S. IBD/TIPP economic optimism index rose to 47.8 in February after improving to 47.3 in January. The index has been climbing since the plunge to 42.0 in September. And in fact, this is the highest level since July and goes against the grain of increasing worries over global growth, Fed fears, etc. But a reading below 50 still reflects pessimism. One supporting factor could be sample period, from January 22 to January 27, when equities finally bounced after the disastrous start to the year. Boosting the index was the outlook on Federal policies, which overshadowed slippage in the economic outlook index and the personal financial outlook index.
10:05 EDTEnergy Action: NYMEX crude has fallen to $29.83
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10:00 EDTIRS Glitch Saves Weak U.S. January Tax Receipts:
IRS Glitch Saves Weak U.S. January Tax Receipts: Daily Treasury data imply a lean 4% y/y January receipt rise despite an IRS computer glitch that added a hefty $9 B to the revenue total. Individual withheld receipts rose by just 2% y/y, while corporate tax receipts fell 13% y/y. Receipt growth is undershooting the 7.6% FY15 rise and may struggle to reach the CBO's sharply downgraded 4% y/y estimate in FY16. An assumed $45 B calendar subtraction should allow a 7% y/y January outlay drop that translates to a $16 B monthly surplus. Analysts expect a $544 B FY16 gap that matches the revised CBO figure.
09:55 EDTTreasury Action: a 200 point plunge in the Dow has knocked bond yields
Treasury Action: a 200 point plunge in the Dow has knocked bond yields sharply lower, with the 10-year rate now below the 1.90% resistance area, with the 2-year at 0.75%, as safe haven demand accelerates. The 10-year yield hasn't been this low since April. Along with flight to safety, the other catalysts remain the disinflationary implications of the drop in energy prices and the erosion in Fed rate hike expectations, not to mention bullish impetus from overseas sovereigns as the ECB and BoJ extend stimulus. Trading sources are skeptical, however, that yields can go much lower at this point without fresh impetus, and may have to wait until Friday's jobs report.
09:35 EDTEuro$ interest rate futures are perking up
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09:20 EDTFX Action: USD-CAD has climbed over 1.4075
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09:20 EDTU.S. equities are extending pre-open declines
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08:56 EDTRedbook Store Sales data reported
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08:55 EDTTreasury Action: a slightly more bullish stance was indicated
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08:40 EDTU.S. vehicle sales preview:
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08:30 EDTGallup US ECI level data reported
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