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News For NOSYMBOL;NOSYMBOL From The Last 14 Days Check below for free stories on NOSYMBOL;NOSYMBOL the last two weeks. |
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| June 17, 2013 |
| 14:40 EDT |  | | Treasury Action: yields backed to highs
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| 14:25 EDT | | | FX Action: USD-JPY has rallied to session highs over 95.20
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| 14:12 EDT |  | | Fed likely to signal taper on Wednesday, FT reports
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| 14:05 EDT | | | U.S. equities have extended gains
U.S. equities have extended gains as the better than expected data rounds provide some lift heading into the Fed decision midweek after the major indices caught a bid from Europe and Asia. The Euro Stoxx 50 largely held on to its 1.33% gain today, as did France's CAC 40, which outperformed at 1.5%. The Dow, S&P and NASDAQ are all comfortably above 1% gains, led by a 1.27% rise in NASDAQ. Within the Dow top gainers have a tech whiff about them as well, led by Cisco +3.15%, Microsoft +2.1% and UnitedHealth +2.05%, while Verizon is the weakest link at -0.33%. |
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| 13:58 EDT | | | Averages remain sharply higher
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| 13:40 EDT | | | U.S. Housing Starts Preview
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| 13:34 EDT | | | S&P cuts Venezuela's ratings to 'B' from 'B+', outlook negative
Standard & Poor's Ratings Services said it lowered its long-term foreign and local currency sovereign credit ratings on the Bolivarian Republic of Venezuela to 'B' from 'B+'. The outlook on the long-term ratings is negative. "The downgrade on Venezuela reflects the government's diminishing ability to implement measures to reverse declining GDP growth, rising inflation, and weakening external liquidity in the context of growing political disagreements within the administration," said Standard & Poor's credit analyst Sebastian Briozzo. "Growing political uncertainty is weakening the implementation of economic policies and may possibly undermine governability." |
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| 13:15 EDT | | | Treasury Action: the front end of the curve is pacing today's gains
Treasury Action: the front end of the curve is pacing today's gains, with the 5-year leading way after the big Fed buyback. Underpinning the drop in yields has been expectations that the Fed won't be announcing any tapering in QE purchases yet, and indeed could suggest via its revised economic projections, that and slowing in asset purchases is still off in the future, with any increase in rates still far down the road. Meanwhile, geopolitical instability in the MidEast are adding to some safe haven trades. The 2-year yield has dropped to 0.258% today, from a closing high of 0.328% last Tuesday. The 5-year rate has fallen to 1.01% from last week's high at 1.146%. |
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| 12:05 EDT | | | U.S. corporate debt: a quad-trancher from Chevron
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| 11:50 EDT | | | Treasury's $55 B 3- and 6-month bill auction was tepid
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| 11:15 EDT | | | NY Fed purchased $5.513 B in Treasury notes
NY Fed purchased $5.513 B in Treasury notes ranging in maturities from March 2018 through February 2019. The Street offered $14.4 B. This is the first of four purchases this week (excluding Wednesday). The large buyback has helped cap the rise in yields after better than expected data, though of more importance holding down yields are expections the FOMC won't announce QE tapering Wednesday. The 5-year yield has dipped back to 1.01% from an earlier high of 1.03%, and 1.04% overnight. |
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| 11:10 EDT | | | Treasury announed a $30 B 4-week bill sale for Tuesday
Treasury announed a $30 B 4-week bill sale for Tuesday. The size is unchanged from last week but down from $35 B the week before that. Later this morning the Treasury is offering $55 B in 3- and 6-month bills, also unchanged over the past several weeks. |
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| 11:10 EDT | | | FX Action: USD-CAD took a quick look over 1.0175
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| 10:30 EDT | | | NY Fed Outright Purchase: the Fed is buying $4.75 B to $5.75 B in notes
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| 10:25 EDT | | | Euro$ interest rate futures are firmer
Euro$ interest rate futures are firmer to start the FOMC week as the short-dated rate contracts bought into the idea that no great shifts in QE policy will be announced on Weds following WSJ Fedwatcher Hilsenrath's piece last week. This was followed by another WSJ Fed preview today that the Fed could tweak its economic assumptions that have consistently overestimated growth. Maintaining optimism in the forecasts could signal the intention to taper QE "in the next few meetings" as Bernanke last indicated, while lowering the bar on the forecasts would have the opposite impact. The Sep 2013 contract is a half-tick firmer at 99.71, while the deferreds are 1-2 ticks higher further out, seemingly pricing in relative calm on the Fed front for now. |
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| 10:15 EDT | | | FX Action: The dollar perked up again after the much better housing data
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| 10:15 EDT | | | Treasury Action: yields snapped back toward highs
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| 10:13 EDT | | | Averages up about 1% in early trading
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| 10:01 EDT | | | Housing Market Index data reported
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| 09:45 EDT | | | U.S. NAHB housing market index preview:
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