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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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| June 7, 2013 |
| 10:10 EDT |  | | Treasury Option Action: a large bullish position in the belly
Treasury Option Action: a large bullish position in the belly was reported, specifically the purchase of 20k in Sep 124-00 calls on 5-year futures, fading the post-payrolls sell-off. Yield on cash 5s shot back above 1.0% to highs near 1.05% after the data. |
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| 09:45 EDT | | | FX Action: USD-JPY is filling in buy stops
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| 09:35 EDT | | | For the U.S monthly outlook after the May jobs report
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| 09:35 EDT | | | For the U.S quarterly outlook,
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| 09:33 EDT |  | | CBOE Volatility Index VIX is recently down 86c to 15.78
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| 09:30 EDT | | | The U.S jobs data revealed minor and offsetting surprises
The U.S jobs data revealed minor and offsetting surprises in the various components, though analysts saw a small upside surprise on net given an April hours-worked boost and firm household data. Payrolls rose by a larger than expected 175k in May, but after 12k in downward revisions, while the workweek was unchanged from an upwardly-revised 34.5 (was 34.4) in April that trimmed the April hours-worked drop to just 0.1% from 0.4%. Analysts saw big May civilian employment and the labor force gains, and the participation rate rose a tick from the 63.3% 34-year low, though the jobless rate rose to 7.6%. Private payrolls were a tad weaker than expected via downward revisions, but headline payrolls were stronger because of a surprisingly small 3k drop in government employment after small 7k boost in the March-April data. Today's figures have done nothing to change the broad outlook for May or Q2. |
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| 09:20 EDT | | | Treasury Action: a large block trade
Treasury Action: a large block trade was reportedly responsible for the subsequent sell-off on Treasuries, according to sources, who confirmed a 22k position on Sep 10-year futures at 129-24 that set the bears back in motion. Sep 10s are off about 11-ticks near 129-14, compared to their 130-035 to 129-025 range. |
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| 09:10 EDT | | | FX Action: USD-CAD took a nose-dive after the twin U.S./Canada employment reports
FX Action: USD-CAD took a nose-dive after the twin U.S./Canada employment reports, trading under 1.0170 from 1.0240. The outsized Canadian jobs add was responsible for the bulk of the CAD rally, though there was a bit of a sigh of relief from the U.S. side as well. USD-CAD has since rebounded back toward 1.0220, as the greenback overall posts gains. |
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| 09:05 EDT | | | Fed Policy Outlook: the mix in the May employment data isn't sufficiently strong to argue for QE tapering
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| 09:05 EDT | | | U.S. equities rebounded from negative territory
U.S. equities rebounded from negative territory to post gains ahead of the open after the neutral payrolls report likely kept the Fed in the QE game for at least another meeting or two. Speculation in the press as to whether the 200k level would provide a taper trigger was rendered moot by the 175k gain, though stock bulls had to overcome the bounce in the jobless rate to 7.6%. Prior to the data, equities had been trading in shallow negative territory after losses in Asia and Europe. In Japan, the N-225 was very volatile, though it recovered late to close down just -0.21% after talk of pension fund support to raise equity holdings a percent, while the Aussie ASX 200 sank 1.21% and the Shanghai Comp fell 1.33%. Half of Europe is back in the green, with a slight gain on the Euro Stoxx 50, though the price action is mixed across the Continent. The Dow is 57-points firmer, S&P gained 9-points, and NASDAQ is 12-points higher in pre-market action. Wal-Mart delivered more upbeat news on its forecast that customer confidence will rise in the second half of the year. Soros Fund Management indicated it had liquidated much of its Japan long-equity positions in May before sell-off. The back-up in Treasury yields to highs in response could provide some headwinds for stock investors into the close if it continues, whereas only consumer credit remains later to provide a small economic hurdle into the weekend. |
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| 08:58 EDT |  | | Credit Suisse's economist holds an analyst/industry conference call
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| 08:55 EDT | | | FX Action: USD-JPY traded all over the shop
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| 08:45 EDT | | | Credit Suisse's healthcare analyst research team holds a conference call
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| 08:45 EDT | | | U.S. nonfarm payrolls increased 175k in May
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| 08:45 EDT | | | FX Action: The dollar rebounded following the in-line NFP print
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| 08:45 EDT | | | Treasury Action: yields pulled back from highs
Treasury Action: yields pulled back from highs following the near-median print on payrolls, with back revisions virtually a wash, though the unemployment rate backed up to 7.6%. That gave the markets pause and yields eased even further as the news was digested. The T-note yield had run up to 2.10% prior to the snap, then plunged to 2.05% again in its wake. Whether 200k is any kind of threshold, or not, the Fed hasn't reached it in a sustainable way just yet. Taper-off... |
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| 08:34 EDT | | | Futures rise following jobs data
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| 08:33 EDT | | | Economists hold a press conference on the economy
Chief Economists from the nation's largest banks forecast the future of the U.S. economy, including the sequester on jobs and growth at a press conference to be held on June 7 at 11 am. Webcast Link |
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| 08:33 EDT | | | Employment Situation Private Payrolls data reported
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| 08:33 EDT | | | Employment Situation Av Workweek data reported
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