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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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May 22, 2015
09:40 EDTMarket opens quietly in what may be low-key session
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09:25 EDTEuro$ interest rate futures plunged
Euro$ interest rate futures plunged following the 0.3% rise in core CPI, after biding their time ahead of Yellen's speech on the economic outlook, which is still widely expected to emphasize "transitory" weakness. Fed moderate Williams endorsed the 2% inflation mandate in a speech overnight, while core CPI steadied at 1.8% y/y - still below that target. The December 2015 contract sank 3-ticks to near 99.405, while the deferreds turned up to 2.5-tick gains in to losses of as much as 5.5-ticks out the back end. All else equal, look for some bottom-fishing ahead of the early close.
09:25 EDTTreasury Action: TIPS are outperforming nominals after the hotter CPI data
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09:10 EDTFed Policy Outlook: firming in April CPI supports a September rate hike
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09:10 EDTTreasury Action: yields continued to levitate
Treasury Action: yields continued to levitate higher in the wake of the uptick in core CPI, through the 2.21% 50% retracement area of Thursday's 2.256-2.163% range, which puts the top end of that range in sight. This has been reinforced by the sharp reaction in the dollar moving higher, though equity losses have been fairly muted in pre-open trade. A break of the 2.25-2.26% area will be required to crack May's wedge or flag-shaped pattern and put 2.303% May 19 highs or 2.366% May 12 highs in reach. 2.20-2.16% reverts to yield support, should the bond market rethink the risks on Yellen's 13 ET speech. The 2s-10s spread has consolidated around +160 bp, with the deepest losses in the belly and the bond outperforming relatively.
09:05 EDTThe 0.1% April U.S. CPI rise
The 0.1% April U.S. CPI rise with a surprisingly firm 0.3% core price gain rounded from respective increases of 0.103% and 0.256%, with price strength attributable to a 0.9% price pop for medical care services and a 0.3% rise for owners' equivalent rent. Analysts now expect 0.1% PCE chain price figure with a 0.2% core price gain, and a 0.2% April nominal PCE rise with a 0.1% "real" gain. Our 2.5% Q2 GDP growth forecast assumes nominal consumption growth of 4.3% with a lean 1.7% "real" rise and a 2.6% chain price increase, after expected upward Q1 revisions that leave a 0.1% (was -0.1%) nominal Q1 growth rate with a 2.1% (was 1.9%) real rise and a 2.0% chain price contraction. The CPI figures defied the underperformance for other April inflation measures. Analysts saw a 0.4% April PPI drop with a 0.2% core price decline, and the 0.6% April PPI drop on the old SOP basis. The April trade price report revealed surprising April weakness after a two-month pause in the trade price downtrend.
09:00 EDT New York Federal Reserve Bank President William Dudley Speech to be released at 12:30
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09:00 EDT Federal Reserve Gov. Daniel Tarullo Speech to be released at 12:00
09:00 EDT Chicago Federal Reserve Bank President Charles Evans Speech to be released at 14:15
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09:00 EDT Federal Reserve Vice Chair Stanley Fischer Speech to be released at 11:30
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09:00 EDT Federal Reserve Vice Chair Stanley Fischer Speech to be released at 12:30
09:00 EDT Boston Federal Reserve Bank President Eric Rosengren Speech to be released at 09:05
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09:00 EDT Cleveland Federal Reserve Bank President Loretta Mester Speech to be released at 09:10
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08:53 EDTBarclays healthcare analysts hold an analyst/industry conference call
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08:50 EDTFX Action: USD-CAD jumped to 1.2269 highs
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08:45 EDTU.S. CPI edged up 0.1% with the core up 0.3% in April
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08:45 EDTTreasury Action: yields spiked higher
Treasury Action: yields spiked higher following the hotter than expected core CPI reading, though measured y/y it was a still tame +1.8%. The T-note shot back over 2.20% in a snap from 2.17% in advance of the data, likely as much a function of shallow liquidity as any heartfelt inflation concern. With Yellen's speech looming after the early bond market close, yields are unlikely to get too far as she is likely to remain cautious on the "transitory" economic slowdown, in line with the last statement and FOMC minutes.
08:40 EDTFX Action: The dollar rallied broadly
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08:33 EDTModest reaction to consumer prices report
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08:25 EDTEnergy Action: NYMEX crude eased into $60.04 lows
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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 | all recent NOSYMBOL news | >>

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