News Breaks |
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| January 31, 2013 |
| 08:31 EDT |  | | Employment Cost Index ECI data reported
Employment Cost Index ECI up 0.5% vs. consensus of 0.5% for the quarter |
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News For NOSYMBOL From The Last 14 Days Check below for free stories on NOSYMBOL the last two weeks. |
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| May 20, 2013 |
| 11:10 EDT | | | Treasury announced a $45 B bill auction for Tuesday
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| 11:10 EDT | | | NY Fed bought $1.45 B in bonds
NY Fed bought $1.45 B in bonds dated from February 15, 2036 through May 15, 2043. The Street offered $4.104 B. Bonds have pretty much given up their gains with the 30-year yield at 3.16% versus an earlier low of 3.125% amid a recovery on Wall Street. |
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| 11:07 EDT |  | | Democrats may use "nuclear option" to confirm Cordray, The Hill says
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| 10:35 EDT | | | Treasury Option Action: a "package trade" on 10s and 5s
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| 10:25 EDT | | | NY Fed outright purchase: the Fed is buying the usual $1.25 B to $1.75 B in bonds
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| 10:15 EDT | | | Further Weakness Ahead in U.S. May:
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| 10:13 EDT | | | Averages mixed, S&P little changed in early trading
The muted futures action in the premarket session gave way to a slightly lower open for the broader market, but the averages have climbed back early in the session. Acquisition news, including Yahoo's (YHOO) purchase of Tumblr for $1.1B and Actavis' (ACT) agreement to buy Warner Chilcott (WCRX) in a $8.5B stock deal, have dominated the early news, especially given the very light economic calendar. A bit over a half hour into the session, the Dow is down 12 points, the Nasdaq is up 4 points and the S&P is virtually unchanged. |
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| 10:05 EDT | | | Treasury Option Action: a large FIT steepener
Treasury Option Action: a large FIT steepener is reportedly working its way through the market with bullish purchases of 30k in Jun 124 calls and a bearish sale of 25k in Sep 123.75 calls on 5-year futures against bearish "purchases of 10k in Sep 127/128 put spreads and 10k in Sep 127.5/128.5 put spreads" on 10-year futures. Meanwhile, 10-year futures continue to rally, now up 4-ticks near 131-315 compared to a 132-035 to 131-22 range. |
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| 09:40 EDT | | | FX Action: USD-JPY dipped into 102.35
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| 09:33 EDT |  | | CBOE Volatility Index VIX is recently up 78c to 13.23
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| 09:15 EDT | | | Japan government panel warned on QE
Japan government panel warned on QE, according to a Reuters article. The advisory group to Fin Min Aso worries that investor demand will not be sustained and that yields will spike higher as a result, which in turn could be a drag on long term growth prospects. Of course the JGB market has already seen yields surge since early April from 0.42% when the aggressive buybacks were outlined, to as high as 0.85% on Friday. |
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| 09:10 EDT | | | Treasury Option Action: a large 5-year position in overnight trade
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| 08:40 EDT | | | U.S. equities are slightly lower to start the week
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| 08:40 EDT | | | U.S. Chicago Fed's National Activity Index dropped further to -0.53 in April
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| 08:34 EDT |  | | Morgan Stanley's analysts hold an analyst/industry conference call
Analysts discuss the evolution of enterprise data center requirements on an Analyst/Industry conference call to be held on May 20 at 11 am. |
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| 08:20 EDT | | | Fed funds opened at 0.11%
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| 08:20 EDT | | | More Fedspeak still to come this afternoon
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| 08:10 EDT | | | FX Action: USD-CAD consolidated Friday's gains
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| 08:08 EDT | | | BofA/Merrill's Senior Turkey-MENA Economist holds a conference call
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| 08:05 EDT | | | Fed's Fisher said he would have started QE tapering at the last FOMC meeting
Fed's Fisher said he would have started QE tapering at the last FOMC meeting on April 30, May 1 (via MBS), in comments on CNBC. Of course Fisher has been one of the most hawkish on the FOMC and has been arguing against QE for some time, but importantly, he is not a voter in 2013. He doesn't want to go from "wild turkey" on asset purchases, to "cold turkey" by halting QE -- when to dial back is key as just halting buybacks would be "too violent" for the markets. Chairman Bernanke's major concern is the efficacy of QE. He noted, as analysts've done, that asset buying has helped stocks, but wonders whether it's worked in the economy. He does not see broadbased deflation. The Dallas Fed president continues to aruge against Dodd-Frank, saying it's too complicated. Fisher would like to see Bernanke remain Chairman, avoiding answering a question who will be the next Chairman. But one thing he does know for sure is that it will not be he. Nothing really new from the always engaging Fisher. |
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