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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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November 25, 2014
12:50 EDTTreasury 5-year auction preview: hardly a discouraging word is heard
Treasury 5-year auction preview: hardly a discouraging word is heard on the auction. Contacts generally expect the sale to go well on the heels of yesterday's stellar 2-year offering, and bullish momentum globally. The wi trades at 1.610%, the rich end of the 1.595% to 1.66% range. Nevertheless, a big month-end extension, the advent of the holiday, and set-up for year-end should be supportive. Declines in the 10- and 30-year yields below recent range bottoms suggest ongoing gains across the curve and so bode well. Of course, continued strong support from overseas accounts from near record wides against core soverigns should bring in healthy demand. On the negative side, the lack of much concession and relatilvey rich yields may limit, as could curve flattening trends. Thinning trading conditions may prove detrimental too. The October offering was a dog, in large part due to its expensive pricing. The note was awarded at 1.567%, one of the lowest rates in over a year. The bid cover fell to 2.36 (2.70 average), the worst since July 2009. The indirect bid remained solid, however, at 47.8% (47.4% average).
12:50 EDTU.S. equities stumbled lower
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12:05 EDTOil Action: NYMEX crude has fallen to $74.36
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11:45 EDTTreasury's $13 B 3-year FRN reopening was standard fare
Treasury's $13 B 3-year FRN reopening was standard fare. The high discount margin was 0.068% versus the prior 0.053% for the $15 B October new issue. Bids totaled just over $52 B for a 4.0 cover, better than the 3.58 previously, though this month's ratio was flattered by the $2 B reduction in size. Indirect bidders took 51.8%, just missing the record high of 54.4% in September (though this issue has only been auctioned since January). The $40 B 4-week bill sale was well received. The bill stopped right on the screws at 0.06%. There were nearly $144.6 B in bids for a 3.65 cover, up from last week's 3.51 but below the 3.84 from two weeks ago. Indirect bidders accepted 18.9%.
11:10 EDTEuro$ interest rate options: a variety of flows
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10:45 EDTTreasury 5-year auction outlook: the $35 B 5-year sale should be solid
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10:35 EDTTreasury Option Action: mixed positioning
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10:25 EDTThe U.S. consumer confidence surprise drop to 88.7
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10:20 EDTU.S. Richmond Fed manufacturing index fell 16 points to 4 in November
U.S. Richmond Fed manufacturing index fell 16 points to 4 in November after rising 6 points to 20 in October. This ties the lowest level since June, while the October reading was the highest since the 23 print in December 2010 (and compares to an all-time high of 27 from April 2010). The employment component slipped to 10 from 14, with wages at 15 from 11. New order volume was dropped to 1 from 22. Prices paid slowed to 1.57% from 2.22%, with prices received slipping 0.9% from, 1.23%. The 6-month business activity shipment index disappointed at 34 from 43, with the employment component at 22 from 18, new order volume at 36 from 41, and prices paid at 2.05 from 1.90%.
10:20 EDTFX Action USD-CAD touched session lows of 1.1232
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10:15 EDTU.S. consumer confidence unexpectedly fell 5.4 points to 88.7 in November
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10:15 EDTTreasury Action: yields probed range lows
Treasury Action: yields probed range lows following the unexpected dive in consumer confidence, which defied forecasts and pulled the T-note yield from the 2.30% area to lows of 2.285%. That puts 2.273% November lows within reach and a break would fracture the 2.4070-2.2730% range that has prevailed this month, though perhaps that will await the results of the 5-year auction later. The 2s-10s spread remains flatter near +176 bp.
10:15 EDTFX Action: The dollar fell further
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10:05 EDTRichmond Fed Manufacturing Index level change data reported
November Richmond Fed Manufacturing Index level change at 4 vs. consensus of 16
10:05 EDTConsumer Confidence data reported
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09:55 EDTU.S. Consumer Confidence Preview
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09:25 EDTTreasury neutrals were boosted
Treasury neutrals were boosted at the expense of both longs and shorts among "all clients" in JP Morgan's November 24 Treasury Client Survey, while "actives" survey showed the highest neutral since February. Among "all clients" neutrals jumped to 63 from 56, as longs were trimmed to 17 from 20 and shorts from 24 to 20. Among "actives" neutrals were boosted to 75 from 50, with longs trimmed to 17 from 25 and shorts slashed to 8 from 25. On balance, this suggests that heading into year-end investors have culled some of their directional bets on the bond market, which augers well for further rangebound activity nothwithstanding the Fed's self-interest in normalization policy in 2015.
09:20 EDTU.S. FHFA home price index was unchanged at 214.0 in September
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09:10 EDTThe U.S. Q3 GDP growth boost to 3.9% from 3.5% beat estimates
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09:10 EDTU.S. Case Shiller home price index dipped 0.03% to 173.72 in September
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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 | 29 | 30 | 31 | 32 | all recent NOSYMBOL news | >>

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