New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 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 | all recent NOSYMBOL news | >>
December 25, 2014
18:34 EDT 3-Month Bill Announcement to be released at 11:00
Subscribe for More Information
18:34 EDT 6-Month Bill Announcement to be released at 11:00
18:34 EDTWeek of 1/2 EIA Natural Gas Report to be released at 10:30
Subscribe for More Information
18:34 EDT FOMC Minutes to be released at 14:00
Subscribe for More Information
18:34 EDTWeek of 1/2 EIA Petroleum Status Report to be released at 10:30
18:34 EDTDecember Treasury STRIPS to be released at 15:00
Subscribe for More Information
18:34 EDTWeek of 1/3 Jobless Claims to be released at 08:30
18:34 EDTWeek of 1/4 Bloomberg Consumer Comfort Index to be released at 09:45
Subscribe for More Information
December 24, 2014
12:40 EDTTreasury Closing Summary:
Subscribe for More Information
12:03 EDTWeek of 1/3 MBA Purchase Applications to be released at 07:00
12:01 EDTEIA natural gas storage change for week ending December 19
Gas inventories 49 Bcf draw vs. consensus of 63 Bcf draw.
11:45 EDTTreasury Action: 7-year sale was weak
Subscribe for More Information
11:11 EDT6-Month Bill Announcement Offering Amount data reported
6-Month Bill Announcement Offering Amount at $24.0 B
11:11 EDT3-Month Bill Announcement Offering Amount data reported
Subscribe for More Information
11:10 EDTTreasury announced a $48 B 3- and 6-month bill auction for Monday
Subscribe for More Information
10:30 EDTCrude inventories for week of December 19
Subscribe for More Information
09:55 EDTTreasury 7-year auction outlook:
Treasury 7-year auction outlook: today's auction finishes the Treasury's coupon offerings for 2014. This week's round of auctions have seen tepid domestic demand, while indirect bidding remained strong thanks to the yield premiums to overseas sovereigns. The wi trades about 3 bps higher at 2.11%, after having surged over 9 bps to 2.08% yesterday following the poor 5-year sale. It's ranged as low as 1.96% over the last few days. The recent cheapening may not be sufficient to attract much buying however, as a stop here still would be one of the richest in over a year, while the early close today, thin holiday conditions, and worries over Fed rate hikes next year are also negatives. Nevertheless, as noted above, foreign buying should remain strong given the widening spreads to core sovereigns and investor demand for yield. The November auction stopped at 1.960% and garnered at 2.63 cover (2.56 average) and a 50.0% indirect bid (45.7% average). Direct bidders accepted 12.8% last month with primary dealers taking 37.1%.
09:54 EDTBloomberg Consumer Comfort Index Level data reported
Subscribe for More Information
09:52 EDTMarket opens higher to begin holiday shortened session
Subscribe for More Information
09:15 EDTFX Action: USD-CAD traded into 1.1591 lows
Subscribe for More Information
08:55 EDTU.S. equities are moderately firmer
U.S. equities are moderately firmer after spillover gains in Asia after the Dow closed over 18k yesterday following 5% GDP growth, though Europe has been mixed. Initial jobless claims fell 9k to 280k for the December 20 week, helping prop up shares. The shortened session should see volumes as very low ebb, with an early close at 13 ET. The Dow is 24-points higher, S&P rose 2-points and NASDAQ is up 5-points in pre-market action, supported by the claims data. Japan's N-225 rallied 1.24%, propped up by the weak yen as well, while the Shanghai Comp sank 1.98% and the Euro Stoxx 50 is 0.3% lower. In M&A, medical device maker Stryker announced a takeover of Smith & Nephew, while Sumitomo Mitsui Bank plans to by Citigroup's retail unit in Japan for Y40 B. Otherwise, all that stand between claims and an early close on Wall Street is the EIA energy complex inventories.
08:50 EDTThe 9k U.S. initial claims drop to 280k
Subscribe for More Information
08:45 EDTTreasury Action: yields steadied under highs
Treasury Action: yields steadied under highs after the main release of the session came in firmer than expected, as jobless claims sank 9k to 280k. The T-note yield has been probing the 2.28% area from Asian lows of 2.24%, with December highs of 2.347% above. The 2s-10s spread has widened out to +154 bp - out another 2 basis points from the close.
08:40 EDTU.S. initial jobless claims fell 9k to 280k in the week ended December 20
U.S. initial jobless claims fell 9k to 280k in the week ended December 20, from 289k previously. This is the lowest level in 7 weeks and claims have held below 300k in every week but one (November 22) since September 6. The 4-week moving average slid to 290.25 from the prior 298.75k. Continuing claims rose 25k to 2,403k in the week ended December 13 after dropping 142k to 2,378k (revised from 2,373k) in the prior week. The BLS said there was nothing unusual in the data, but claims are subject to a lot of distortions during the holidays.
08:40 EDTFX Action: The dollar more or less ignored
Subscribe for More Information
08:34 EDTJobless Claims data reported
Subscribe for More Information
08:33 EDTFutures remain higher following jobless claims data
Subscribe for More Information
08:20 EDTU.S. initial jobless claims preview:
Subscribe for More Information
08:00 EDTEnergy Action: NYMEX crude oil made its way from $57.52 highs
Subscribe for More Information
07:40 EDTU.S. MBA mortgage market index rose 0.9%
Subscribe for More Information
07:40 EDTTreasury Market Outlook: the markets are little changed in quiet trading
Subscribe for More Information
07:35 EDTN.Y. FX Outlook
N.Y. FX Outlook: A very quiet overnight session took the dollar modestly lower, as pre-holiday position squaring appeared to be the main driver. EUR-USD moved briefly over 1.2200, and never really threatened Tuesday's 1.2165 trend low. USD-JPY meanwhile, moved away from noted sellers from 120.80, back under 120.50. The U.S. calendar is light into what will be a shortened session for most, and will reveal weekly jobless claims at 8:30 EST, followed by weekly EIA petroleum inventory data at 10:30 EST.
07:02 EDTFutures quiet in early trading
Stock futures are trading near fair value ahead of the holiday shortened trading session. The stock market will close at 1:00 pm ET, and volume is expected to be light, while the market is expected to be in drift mode. The Dow had its first finish above 18,000 yesterday, and the next milestone on the horizon is 2100 for the S&P 500. Investors will be watching the weekly energy inventories for clues about oil and gas consumption.
05:37 EDTOn The Fly: Morning Wrap-Up for December 24
Subscribe for More Information
01:40 EDTOil Action:
Oil Action: Oil prices moved higher overnight as Chinese crude stockpiles declined 1.83% m/m in November with diesel stockpiles down 4.33% m/m, before falling back again slightly with Nymex WTI crude below USD 57 again and down 0.67% on yesterday's close. U.S. crude stockpiles are also expected to have shrunk, according to a Bloomberg survey. But even if this prompts a last minute pick up, oil prices are heading for the biggest annual decline since 2008, amid the global rise in supply, exacerbated by the highest U.S. output in more than 3 decades.
December 23, 2014
23:00 EDTJapan FinMin Aso: desirable yen levels
Subscribe for More Information
17:00 EDT 4-Week Bill Auction to be released at 11:30
Subscribe for More Information
17:00 EDTWeek of 1/3 Redbook to be released at 08:55
Subscribe for More Information
15:15 EDTTreasury Option Action:
Subscribe for More Information
15:15 EDTTreasury Closing Summary:
Treasury Closing Summary: Yields backed up on Tuesday after Q3 GDP was revised up to 5.0%, despite any caveats about healthcare spending that may well have inflated the result. Stocks largely spun their wheels after the data, which was accompanied firmer personal income but weaker durables, new home sales and final U. Michigan revisions. Thinning holiday conditions and a rather poor 5-year auction went hand in hand, keeping Treasuries on the defensive ahead of tomorrow's shortened session. The dollar index ramped to fresh cycle highs as well.
15:00 EDTTreasury Action: the 7-year sale completes the week's and the year's auctions
Subscribe for More Information
14:29 EDTMarket remains mixed in afternoon trade
Subscribe for More Information
13:15 EDTTreasury's $35 B 5-year sale was sloppy and soft, as feared
Treasury's $35 B 5-year sale was sloppy and soft, as feared. The note tailed slightly to 1.739% versus 1.735% at the bid deadline, and it's measurably cheaper than the 1.595% stop in November. Bids totaled $83.7 B for a 2.39 cover, below November's 2.91 and the 2.72 average. However, there continued to be solid support from indirect bidders who took 58.7% compared to 65.0% previously, but better than the 48.7% average. Direct bidders were awarded only 7.3%, and primary dealers accepted 33.9%.
13:15 EDTTreasury Action: yields in the belly lurched higher
Subscribe for More Information
12:53 EDTRussia placed on CreditWatch negative by S&P
Standard & Poor's placed its 'BBB-/A-3' long- and short-term foreign-currency sovereign ratings and 'BBB/A-2' local-currency sovereign credit ratings on Russia on CreditWatch with negative implications. The rating agency cites the country's "rapid deterioration" of monetary flexibility.
12:52 EDTWeek of 1/3 ICSC-Goldman Store Sales to be released at 07:45
Subscribe for More Information
12:45 EDTTreasury 5-year auction preview:
Treasury 5-year auction preview: the conflicting factors between Fed rate hike fears, cheapening yield levels, and wider spreads to foreign sovereigns could make for a difficult auction, especially when thinning holiday volume is added in. Hence, auction results are likely to be sub-par (the just auctioned 2-year FRN and 4-week bills saw soft results). The wi has cheapened significantly on the day, rising over 5 bps to 1.735%. Additionally, the 5s-30s spread remains near 6 year narrows at 108 bps. Nevertheless, the issue may not draw much demand from domestic accounts after the stronger GDP data increased worries the Fed could tighten policy before mid-2015. On the other hand, the jump in rates is a boon to foreign investors who are looking to pick up yield (the German 5-year closed at 0.05% today). The November auction was awarded at 1.567% and garnered a 2.36 cover (2.70 average) and a 47.8% indirect bid (47.4% average).
11:45 EDTEuro$ interest rate futures are mostly lower
Euro$ interest rate futures are mostly lower having taken their cue from the front-end of the curve after the roll to the new 2-year note jolted short yields higher, with the 2-year yield leaping from the 0.66% area yesterday to 0.74% today. Though mainly a technical shift, this has pulled the deferred euro$ contracts lower as well. The March 2015 contract is flat at 99.71, but the deferreds are 1-5 ticks lower out the curve. As analysts edge closer toward 2015 and following the outsized 5.0% Q3 GDP revision, this brings the prospect of a Fed tightening launch nearer as well.
11:45 EDTTreasury 2-year FRN and bill auctions were on the soft side
Subscribe for More Information
11:40 EDTToday's U.S. reports
Today's U.S. reports exacerbated the dichotomy between improving consumer prospects but a downgraded factory and mining outlook in the face of plunging oil prices. The 5.0% Q3 GDP surge left a solid two-quarter bounce, though rapid inventory growth suggests that the GDP bounce is over. Broad-based weakness in the November durable goods data, alongside a 1.6% new home sales drop, highlights downside Q4 GDP risk. Analysts saw solid spending but weak income in the November personal income report that lowered the saving rate, as is consistent with the year-end Michigan sentiment rise to a downwardly-tweaked 93.6 December cycle-high. Consumers are getting more confident just as some producers are pulling back, though a Richmond Fed bounce to 7.0 from 4.0 took the edge off last week's disappointing Philly Fed and Empire State data.
11:15 EDTU.S. equities stalled out with NASDAQ lagging
Subscribe for More Information
11:15 EDTFX Action: USD-CAD failed to take out last week's trend high
FX Action: USD-CAD failed to take out last week's trend high of 1.1673, and has since been pushed back to intra day lows of 1.1609. Sell-stops are reported just under 1.1600 now, with interim downside target seen at 1.1580.
10:50 EDTToday's U.S. income report
Subscribe for More Information
10:30 EDTU.S. Richmond Fed index rose 3 points to 7 in December
U.S. Richmond Fed index rose 3 points to 7 in December as it retraces some of the 16 point drop to 4 in November. The employment index rose to 13 from 10, though the workweek dipped to 4 from 5. That's the weakest since July. New order volume increased to 4 from 1. It was 22 in October. Annualized price trends decelerated with the prices paid component slipping to 1.26% from 1.57%, while prices received dipped to 0.83% from 0.90%.
10:20 EDTThe December Michigan sentiment pop
The December Michigan sentiment pop to a downwardly-tweaked 93.6 (was 93.8) cycle-high extended the November rise to an 88.8 prior cycle-high from 86.9 in September. Analysts have a fifth straight monthly increase, a third straight reading above last year's 85.1 July peak, and the strongest reading since January of 2007. The tiny downward Michigan sentiment bump defied stronger-late month confidence readings in other surveys likely attributable to falling gasoline prices and an unwind of harsh weather, and the tendency for upward revisions for the past two years. The pattern of upward revisions is dissipating, given an average 2014 boost of just 0.6, versus a 1.8 average in 2013. Analysts've seen a December and Q4 climb in all the major confidence indicators, and analysts expect a consumer confidence climb to 94.0 from 88.7 in November and a 94.1 cycle-high in October. The 2014 confidence rise has closed the gap to the growth path for consumption and payrolls.
10:20 EDTU.S. new home sales fell 1.6% to 438k in November
Subscribe for More Information
10:15 EDTTreasury Action: yields remained elevated
Treasury Action: yields remained elevated right through the mixed second data round that included a downward revision on Michigan sentiment, drop in home sales and healthy rise personal income and spending (latter below median). The 2-year yield continues to be propped up near 0.74%, while the 10-year yield is wrestling with 2.20%, up from 2.15% in Asia. The 2s-10s spread has steadied near +146 bp after collapsing with the roll to the new 2s from +149 bp at the close. Friday highs of 2.234% is the next upside target, while 2.35% December highs appear safe for now.
10:15 EDTU.S. personal income increased 0.4% with consumption up .06% in Nov
Subscribe for More Information
10:10 EDTFX Action: The dollar moved marginally higher
Subscribe for More Information
10:06 EDTRichmond Fed Manufacturing Index level change data reported
Subscribe for More Information
10:06 EDTNew Home Sales data reported
November New Home Sales at 438K vs. consensus of 460K
10:05 EDTU.S. consumer sentiment surged to 93.6 in the final December reading
Subscribe for More Information
09:57 EDTConsumer Sentiment Index data reported
Subscribe for More Information
09:50 EDTU.S. personal income preview:
Subscribe for More Information
09:50 EDTU.S. new home sales preview:
U.S. new home sales preview: new home sales are expected to decrease 6.1% to a 430k unit pace (median 460k) in November from 458k in October. Risk is upward, however, given the improvement in the November NAHB. New home sales set a new high in September of 458k and analysts saw a Q3 new home sales average of 436k following averages of 427k in Q2, 431k in Q1. For more, see our new home sales page.
09:45 EDTFX Action: USD-JPY has been on a tear
Subscribe for More Information
09:40 EDTDeutsche Bank analysts hold an analyst/industry conference call
Subscribe for More Information
09:40 EDTU. Michigan sentiment (final) preview:
Subscribe for More Information
09:36 EDTMarket opens at new highs, Dow breaks 18K
Subscribe for More Information
09:25 EDTTreasury 5-year auction outlook:
Subscribe for More Information
09:25 EDTOil Action: NYMEX crude spiked up
Subscribe for More Information
09:15 EDTU.S. Q3 GDP growth was revised sharply higher to 5.0%
U.S. Q3 GDP growth was revised sharply higher to 5.0% from 3.9% in the prior release and 3.5% in the Advance report. Growth was 4.6% in Q2. It's the strongest back-to-back quarterly gain in 10 years. Upward revisions were widespread. Consumption was bumped up to 3.2% from 2.2% previously with improvement in both goods and services. Fixed investment was boosted to 7.7% from 6.2%, with nonresidential investment at an 8.9% rate from 7.1%, and residential at 3.2% from 2.7%. Government spending rose at a 4.4% rate after a 4.2% clip. Inventories subtracted a smaller $2.6 B versus -$5.7 B previously. Net exports contributed $29.0 B versus $29.4 B previously. The GDP chain price index was steady at 1.4%, though the core rate slowed to 1.3% compared to 1.4%. The broadbased strength of the data is likely to set a bearish tone in bonds for most of the session.
09:15 EDTThe huge U.S. Q3 GDP growth boost to 5.0%
Subscribe for More Information
09:15 EDTU.S. FHFA home price index rose 0.6% in October to 215.4
Subscribe for More Information
09:05 EDTU.S. equities remained fairly well bid
Subscribe for More Information
08:59 EDTRedbook Store Sales data reported
Week of 12/20 Redbook Store Sales up 5.3% for the year
08:55 EDTFX Action: USD-CAD zigged and zagged
Subscribe for More Information
08:55 EDTU.S. FHFA home price index preview:
Subscribe for More Information
08:50 EDTU.S. Q3 GDP growth was revised sharply higher to 5.0%
Subscribe for More Information
08:45 EDTU.S. durable goods orders fell 0.7% in November
U.S. durable goods orders fell 0.7% in November from a revised 0.3% October gain (was 0.4%). Transportation orders, a major source of volatility since July, fell 1.2% following a 3.3% rebound previously (revised from 3.4%). Excluding transportation, orders dipped 0.4% from -1.0% (revised from -0.9%). Nondefense capital goods orders excluding aircraft were flat after two months of declines. Shipments slid 0.4% in November and the 0.1% October gain was nudged to -0.1%. Nondefense capital goods shipments excluding aircraft rose 0.2%. Inventories edged up 0.4%. The inventory-shipment ratio increased to 1.66 from 1.65.
08:45 EDTFX Action: The dollar rallied after the mix of data
Subscribe for More Information
08:45 EDTTreasury Action: yields probed higher on upward GDP revisions
Treasury Action: yields probed higher on upward GDP revisions to a big 5.0% handle in Q3, though the damp November durables reading took some starch out of the GDP release. The T-note yield nudged over 2.18% fomr the 2.17% area prior to the data and compared to 2.15% lows in Asia. The 2s-10s spread is spinning its wheels around +145 bp, having narrowed dramatically from the +149 bp area at the Monday close following the roll to the new 2-year notes.
08:39 EDTCorporate Profits After-tax data reported
Subscribe for More Information
08:35 EDTFutures remain higher following release of economic data
Subscribe for More Information
08:30 EDTTreasury Market Outlook: Treasuries are little changed
Subscribe for More Information
08:30 EDTFX Action: USD-CAD has run up
FX Action: USD-CAD has run up into the upcoming Canadian GDP and mix of U.S. data, trading to session highs of 1.1640. Oil does not appear to have been a factor behind the latest move, with WTI trading sideways near $56. Talk of Repsol/Talisman backed selling into strength continues to be heard, with the 1.1640-50 level capping the pairing for the past four session. A failure to move over last week's 1.1673 high after the data could result in a concerted round of selling into the Christmas break.
08:15 EDTCanada GDP Preview
Canada GDP Preview: Analysts expect GDP to expand 0.1% m/m in October (median same at +0.1%) after the 0.4% surge in September. An as expected 0.1% gain in October GDP would leave GDP on track for a 2.3% clip in Q4, slightly undershooting the BoC's 2.5% estimate and hence supportive of the "low for long" rate outlook.
08:15 EDTRevised U.S. Q3 GDP preview:
Subscribe for More Information
08:15 EDTU.S. durable goods orders preview:
Subscribe for More Information
08:00 EDTU.S. ICSC Goldman Sachs chain store sales index climbed 3.4%
Subscribe for More Information
07:17 EDTFutures higher following yesterday’s record close
Subscribe for More Information
06:25 EDTEnergy Action: NYMEX crude stemmed its bleeding
Subscribe for More Information
06:10 EDTN.Y. FX Outlook
N.Y. FX Outlook: The dollar trended higher in overnight dealings, though activity was largely muted. EUR-USD was unable to make fresh downside lows, stalling into 1.2220, though issues with Greece elections may add some weight to the euro (see our 05:34 ET alert). SUD-JPY meanwhile, took out the key 120 level in early Asia, with the market perhaps taking advantage of a Japanese holiday to push the pairing higher. The U.S. calendar will be of interest this morning, kicking off with a barrage at 8:30 EST. The third Q3 GDP report, November durables, November personal income and PCE are all set for the early round, followed by October FHFA home prices at 9:00 EST, the final December Michigan sentiment report at 9:55 EST, and November new home sales at 10:00 EST.
05:17 EDTOn The Fly: Morning Wrap-Up for December 23
Subscribe for More Information
05:08 EDTDecember front month equity options last day to trade is today January 16, 2015
Subscribe for More Information
04:10 EDTOil prices advanced
Subscribe for More Information
December 22, 2014
21:20 EDTFX Action: while the cat's away, USD-JPY scaled 120.00
FX Action: while the cat's away, USD-JPY scaled 120.00 more decisively to 120.18 after marking NY pm highs of 120.01, while the figure had been in place as an option-related barrier, along with persistent Japanese exporter offers. With Japan celebrating the Emperor's Birthday with a bank holiday, the mice have run the pair higher, though still some distance from 121.84 trend highs set on December 8th. Yet Asian stocks elsewhere have been opening weaker, after resource and commodity shares skidded. HK Hang Seng is fractionally lower, while the Shanghai Comp is off 2.0%, which appears to have since stalled out USD-JPY and could knock it back down below 120.00 if stock market selling persists.
16:55 EDT 3-Month Bill Auction to be released at 11:30
Subscribe for More Information
16:55 EDT 6-Month Bill Auction to be released at 11:30
16:55 EDT 4-Week Bill Announcement to be released at 11:00
Subscribe for More Information
15:10 EDTTreasury Closing Summary:
Treasury Closing Summary: The curve bent with the flow of supply, leaving the front-end higher than the back after the $27 B 2-year auction found reasonable demand, though it took the concession of higher yields to get the job done. This followed a weaker existing home sales reading, however, which allowed longer yields to drift lower by session end. The commodity markets remained in flux, too, as lower precious metals and energy prices sapped the CRB and dovetailed with the weaker data to put the global disinflation macro trade back in vogue.
14:52 EDTStocks higher as rally continues
Subscribe for More Information
14:20 EDTCanada GDP Preview
Canada GDP Preview: Analysts expect GDP, due Tuesday, to expand 0.1% m/m in October (median same at +0.1%) after the 0.4% surge in September. An as expected 0.1% gain in October GDP would leave GDP on track for a 2.3% clip in Q4, slightly undershooting the BoC's 2.5% estimate and hence supportive of the "low for long" rate outlook.
13:15 EDTTreasury's $27 B 2-year auction was ok after having cheapened
Subscribe for More Information
13:15 EDTTreasury Action: short yields topped out
Subscribe for More Information
12:50 EDTTreasury 2-year auction preview: the auction has a few things going for it
Subscribe for More Information
12:30 EDTTreasury Action: short yields backed up from lows
Subscribe for More Information
12:24 EDT 2-Yr FRN Note Auction to be released at 11:30
Subscribe for More Information
12:24 EDT 2-Yr FRN Note Auction to be released at 11:30
Subscribe for More Information
12:24 EDT 2-Yr FRN Note Auction to be released at 11:30
12:24 EDT 2-Yr FRN Note Auction to be released at 11:30
Subscribe for More Information
11:45 EDTTreasury $48 B 3- and 6-month bill auction was ok, albeit at cheaper rates
Subscribe for More Information
11:10 EDTTreasury announced a $30 B 4-week bill auction for Tuesday
Subscribe for More Information
11:06 EDT4-Week Bill Announcement Offering Amount data reported
Subscribe for More Information
10:55 EDTTreasury Option Action: a variety of flows
Subscribe for More Information
10:50 EDTTreasury 2-year auction outlook:
Subscribe for More Information
10:30 EDTThe 6.1% U.S. existing home sales November drop
Subscribe for More Information
10:25 EDTFX Action: USD-JPY came up short of the 120.00 mark
FX Action: USD-JPY came up short of the 120.00 mark, stalling at 119.96 so far. Downside since then however, has been limited to the 119.85 level, which came after the U.S. housing data. The better risk backdrop continues to be a dollar supportive factor, though solid Japanese exporter backed offers, along with noted option related selling interest, could keep the 120 handle out of reach for now.
10:20 EDTTreasury Action: yields held above lows
Subscribe for More Information
10:20 EDTFed funds futures remain modestly lower
Subscribe for More Information
10:10 EDTU.S. existing home sales dropped 6.1% to 4.93 M in November
Subscribe for More Information
10:10 EDTFX Action: The dollar inched a few points lower
FX Action: The dollar inched a few points lower following the existing home sales data, which came in below expectations. EUR-USD traded up to 1.2260 from near 1.2255, as USD-JPY moved to 119.85 from near 119.95. Equity indices remain mostly positive on the session, while yields are steady off of session highs.
10:05 EDTU.S. Producer Sentiment Moderating in December:
Subscribe for More Information
09:55 EDTEnergy Action: Natural gas futures are down 8.5%
Subscribe for More Information
09:50 EDTU.S. equities stalled out and reversed with energy sector declines
Subscribe for More Information
09:41 EDTMarket mixed in first day of holiday shortened week
Stock futures traded higher throughout the pre-market trading session, but the broader market opened mixed. The Dow is extending its gains from last week as it closes in on a new high. The S&P is making a renewed attempt at 2,100, but the benchmark index is little changed in the early going. The volume may be light this week and next given the holidays during both weeks, but with little resistance the market may drift to new highs and new milestones as the year closes. In early trading, the Dow is up 70 points, the Nasdaq is down 1 point and the S&P is flat.
09:40 EDTU.S. existing home sales preview:
Subscribe for More Information
09:10 EDTEuro$ interest rate options are mixed
Subscribe for More Information
09:05 EDTFX Action: USD-CAD made its way to 1.1640 highs
Subscribe for More Information
08:40 EDTU.S. equities are moderately firmer
Subscribe for More Information
08:40 EDTU.S. Chicago Fed's National Activity index climbed to 0.73 in November
U.S. Chicago Fed's National Activity index climbed to 0.73 in November from an upwardly revised 0.31 in October (was 0.14) and 0.38 in September (revised from 0.29). That tipped the 3-month moving average to 0.48 from 0.09 (revised from -0.01) and September's 0.17 (revised from 0.12). Thought better than expected, the report reflects the improving trend in the economy.
08:34 EDTFutures show little reaction to Chicago Fed data
Subscribe for More Information
07:40 EDTOil Action: NYMEX crude peaked at $58.49
Subscribe for More Information
07:28 EDTMarket poised to continue last week’s advance
Subscribe for More Information
07:20 EDTN.Y. FX Outlook
N.Y. FX Outlook: The dollar traded mostly higher overnight, the exception being EUR-USD, which bounced off its trend low near 1.2220, and recovered back over 1.2270 in London. The greenback posted gains against the yen, Cad and pound, all in relatively light and unremarkable trade. The U.S. calendar reveals the December Chicago Fed index at 8:30 EST, followed by November existing home sales at 10:00 EST. Treasury yields are marginally higher as the session gets under way, while Equity futures indicate another higher Wall Street open. Overall, activity should begin to wind down as the Market gears up for the Christmas break.
07:15 EDTTreasury Market Outlook: Treasuries are little changed to lower
Subscribe for More Information
05:51 EDTOn The Fly: Morning Wrap-Up for December 22
Subscribe for More Information
December 20, 2014
17:38 EDTFHFA House Price Index M/M change to be reported at 09:00
Subscribe for More Information
17:38 EDTConsumer Sentiment Index to be reported at 09:55
December Consumer Sentiment Index will be reported at 09:55 . Current consensus is 93.0
17:38 EDTRichmond Fed Manufacturing Index level change to be reported at 10:00
Subscribe for More Information
17:38 EDTNew Home Sales to be reported at 10:00
Subscribe for More Information
17:38 EDTPersonal Income and Outlays Consumer Spending to be reported at 08:30
Subscribe for More Information
17:38 EDTPersonal Income and Outlays to be reported at 08:30
November Personal Income and Outlays will be reported at 08:30 . Current consensus is 0.5% for the month
17:38 EDTGDP price index to be reported at 08:30
Subscribe for More Information
17:38 EDTReal GDP to be reported at 08:30
Subscribe for More Information
17:38 EDTDurable Goods Orders Ex-transportation to be reported at 08:30
November Durable Goods Orders Ex-transportation will be reported at 08:30 . Current consensus is 1.3% for the month
17:38 EDTWeek of 12/22 Money Supply to be released at 16:30
Subscribe for More Information
17:38 EDTChicago Fed National Activity Index Level to be reported at 08:30
November Chicago Fed National Activity Index Level will be reported at 08:30 . Current consensus is 0.23
17:38 EDTExisting Home Sales to be reported at 10:00
Subscribe for More Information
17:38 EDTDurable Goods Orders to be reported at 08:30
Subscribe for More Information
17:38 EDTWeek of 12/31 Fed Balance Sheet to be released at 16:30
Subscribe for More Information
December 19, 2014
16:18 EDTWeek of 12/26 EIA Petroleum Status Report to be released at 10:30
Subscribe for More Information
16:18 EDT 6-Month Bill Announcement to be released at 11:00
16:18 EDT 3-Month Bill Announcement to be released at 11:00
Subscribe for More Information
16:11 EDTFitch upgrades Egypt to 'B' from 'B-'; Outlook stable
Subscribe for More Information
15:00 EDTWeek of 12/28 Bloomberg Consumer Comfort Index to be released at 09:45
Subscribe for More Information
14:51 EDTMarket drifts ahead of expiration day
The market has moved into positive territory late in the day after the averages spent most of the session in a fairly tight range near the flat line. The price of oil, which has dictated the direction of the market over the past couple of weeks, has moved higher as it tries to steady itself after several volatile weeks. Investors are preparing for the quarterly quadruple witching event that occurs when market index futures, market index options, stock options, and single stock futures all expire. In late afternoon trading, the Dow is up 58 points, the Nasdaq is up 24 points and the S&P is up 12 points.
14:30 EDTMore from Lacker: he supports the "patient" characterization
More from Lacker: he supports the "patient" characterization, according to further comments. It would be a mistake to put policy on hold awaiting inflation pressures to rise. He would like to see more data, however, before starting rate lift-off. He believes the 2004 to 2006 tightening regime was too rigid.
14:00 EDTMore from Lacker: the Fed will have to avoid risk of raising rates too slowly
Subscribe for More Information
13:35 EDTFed's Lacker thinks it is highly likely rates go up next year
Subscribe for More Information
13:35 EDTOil Action: NYMEX crude is up across the $57 threshold
Subscribe for More Information
12:25 EDTMore from Williams: risks to the U.S. economy are all from abroad
Subscribe for More Information
12:15 EDTFed's Williams said the move to "patient" was a natural progression
Subscribe for More Information
11:55 EDTTreasury Action: Treasury auctions $91 B in coupons
Subscribe for More Information
11:41 EDTS&P cuts Ukraine rating to 'CCC-'; Outlook negative
Subscribe for More Information
11:25 EDTEuro$ interest rate options: more activity
Euro$ interest rate options: more activity included a package purchase of 3k in June 96 calls vs a sale of 1.5k in March 97 calls and June 97 calls. Then there was a purchase of 4k in front September 93/95/96 call butterflies and 1.5k in June 92/93/95 put butterflies. Finally, noted was a purchase of 15k in Short September 78/82 put spreads vs a sale of 88/92 put spreads. All in a day's work. The March 2015 contract is a half-tick lower now at 99.70, while the deferreds have turned mixed from -2 ticks to +3.5 ticks out the back.
11:05 EDTFX Action: USD-JPY is trading comfortably on the 119 handle
FX Action: USD-JPY is trading comfortably on the 119 handle, after touching 118.84 lows early in the session on reported profit taking interest. The pairing has stalled ahead of the December 11 high of 119.55, with further advancement from there likely to be a grind into noted Exporter offers in place up to the 120 mark.
11:03 EDTKansas City Fed Manufacturing Index Level data reported
Subscribe for More Information
10:19 EDTPeterson Institute for International Economics to hold a discussion
Subscribe for More Information
10:15 EDTFed dove Kocherlakota: failure to respond to weak inflation
Fed dove Kocherlakota: failure to respond to weak inflation risks credibility of the inflation target and the Fed is creating unacceptable downside inflation risks, said the soon to retire uber-dove. He said it would be hard to reverse harmful slide in inflation and the Fed should have vowed to keep rates at zero so long as the inflation outlook is below 2%. Moreover, the Fed should have signaled willingness to buy more bonds if inflation stays low. The dovish tenor of his argument is clear, it has all been said before in his recent dissents.
10:03 EDTAtlanta Fed Business Inflation Expectations Bus Infl Exp % Yr/Yr data reported
December Atlanta Fed Business Inflation Expectations Bus Infl Exp % Yr/Yr up 1.9% for the year
10:00 EDTThe Commodity Futures Trading Commission (CFTC) to hold a meeting
Subscribe for More Information
09:55 EDTTreasury Action: curve steepening retraced
Subscribe for More Information
09:37 EDTQuadruple witching could lead to market volatility
Subscribe for More Information
09:13 EDTGuggenheim analysts hold an analyst/industry conference call
Analysts provide an update from Washington, D.C. on an Analyst/Industry conference call to be held on December 19 at 11 am.
09:05 EDTBarclays healthcare analysts to hold an analyst/industry conference call
Healthcare Analysts provide an update on industry trends on an Analyst/Industry conference call to be held on December 19 at 10:30 am.
09:00 EDTEuro$ interest rate options: a mixed start
Subscribe for More Information
08:50 EDTFX Action: USD-CAD initially rallied to 1.1634
Subscribe for More Information
08:35 EDTU.S. equities: Santa Claus rally will do battle Quadruple Witch
Subscribe for More Information
08:20 EDTOil Action: NYMEX crude held above Thursday's $54.28 low
Subscribe for More Information
08:00 EDTCanada CPI Preview
Canada CPI Preview: Analysts expect CPI to expand 2.3% y/y in November (median 2.2%) following the 2.4% clip in October. CPI is seen falling 0.1% m/m in November after the 0.1% rise in October. A sharp pull-back in gasoline prices should drive month comparable CPI lower. The BoC's core CPI index is seen rising 0.1% m/m in November. Annual core CPI growth is expected to expand at a 2.5% y/y rate (median same at 2.5%), up from the 2.4% clip in October. Our core CPI projection would put the measure even further above the BoC's 2.0% midpoint. However, Governor Poloz has maintained that run-up is transitory and not reflective of a tightening in supply conditions.
07:45 EDTTreasury Market Outlook: Treasuries are mixed
Subscribe for More Information
07:30 EDTAllilance for Regional Development to hold a summit
Subscribe for More Information
07:30 EDTA fresh round of bipolar Fedspeak
A fresh round of bipolar Fedspeak to wind down the week will start with Chicago Fed dove Evans, who will open the Second Annual summit on Regional Competitiveness at 10 ET. There will be no text or Q&A, which suggests little new information from the non-voter. Richmond Fed hawk Lacker could provide some counter-weight during a panel discussion in Charlotte on the economic outlook from 12:30 ET. Lacker is also a non-voter and both are at opposite ends of the dove-hawk spectrum.
07:11 EDTFutures higher ahead of quadruple witching
Stock futures are higher once again as world markets rallied for the second straight day following the Fed’s pledge to take a patient approach to raising interest rates. Today is a quadruple witching today for the markets. Quadruple witching, which happens once per quarter, occurs when market index futures, market index options, stock options, and single stock futures all expire on the same day. There will be little else for investors to key in on, as little domestic economic data is slated to be released.
05:58 EDTOn The Fly: Morning Wrap-Up for December 19
Globex S&P futures are recently up 4.40 from previous day’s SPX cash close. Nikkei 225 up 2.39%, DAX up 0.17%. WTI Crude oil is recently at $54.89, natural gas down 0.71%, gold at $1198 an ounce, copper up 1.19%.
05:50 EDTDecember front month equity options last day to trade is today December 19, 2014
05:40 EDTFX Action: USD-JPY remains well bid
FX Action: USD-JPY remains well bid, edging out a fresh nine-day high at 119.50 earlier, with subsequent dips having remained shallow. The Dec-11 peak at 119.55 provides the immediate focal point. The ongoing risk-on sentiment is weighing on the yen, and Nikkei closed with a solid 2.4% gain. The BoJ kept monetary policy steady today while maintaining the increase in the monetary base at 80 tln yen, as expected. The central bank also raised its assessment on the economy, exports and output, anticipating a moderate recovery as the after effects of the sales tax hike wears off. USD-JPY resistance is marked at 119.55 (Dec-10 high) and 119.91-120.00, support at 119.00-09.
01:15 EDTFX Update: USD-JPY extended gains as stocks continued to rally
FX Update: USD-JPY extended gains as stocks continued to rally in Asia, which also benefited the AUD and NZD. USD-JPY climbed to an eight-day peak of 119.39, breaching above the 20-moving average at 118.79 and bringing the Dec-11 peak at 119.55 into scope. The Nikkei liked the yen's weakness, and posted a solid 2%-plus rally. The BoJ kept monetary policy steady and maintained the increase in the monetary base at 80 tln yen, as expected. The central bank also raised its assessment on the economy, exports and output, anticipating a moderate recovery as the after effects of the sales tax hike wears off. AUD-USD lifted to the 0.8190 area, about a 40 pip gain on yesterday's New York closing level, but remained shy of the Thursday peak at 0.8203. EUR-USD pretty much flat-lined around the 1.2280 level, consolidating the sharp losses from levels above 1.2500 seen since mid-week.
December 18, 2014
23:45 EDTBoJ kept monetary policy steady
Subscribe for More Information
15:05 EDTTreasury Closing Summary:
Subscribe for More Information
14:40 EDTCanada CPI Preview
Subscribe for More Information
14:30 EDTTreasury Action: Treasury yields are holding at or near the highs of the day
Treasury Action: Treasury yields are holding at or near the highs of the day as stocks continue to roar higher. The bearish close in core European sovereign markets is also weighing. However, the updraft in the 10-year is meeting some resistance at 2.20%, with the bond being stymied by the 2.82% area. There wasn't much reaction to the TIPS auction which garnered a record indirect bid. Yields are expected to remain elevated near term, however, as the market continues to look to the start of rate lift-off around mid 2015. Additionally, there's $91 B in coupon supply in the upcoming Christmas shortened holiday week. However, the still wide spreads to Europe and the ongoing demand for yield from foreign accounts remains supportive and should temper the bearish tone. Also, month-end and year-end is coming into focus and that could prompt short covering. The Barclays' Treasury index is forecast to extend out 0.09 years, which should also underpin.
14:23 EDTMarket in midst of powerful two day advance
Subscribe for More Information
13:50 EDTU.S. equities continue to leg it higher
U.S. equities continue to leg it higher with very little claw back (at the risk of inviting a slump into the close), with NASDAQ comp over 1.9% higher and the blue chips in hot pursuit. Today's data wasn't particularly impressive, so it's not the fundamentals. Crude oil's recovery to the $59-60 bbl zone was roundly rejected and it has since retreated below $56 bbl, so it's not that global growth proxy. Following Putin's forceful 3-hour press conference, Russian stocks are 4-7% firmer and the ruble rallied to 57.97 vs 79.91 lows on Tuesday vs the dollar, before backing off to 61.30. Perhaps. Yet, Jim O'Neill formerly of Goldman also agreed in a CNBC interview that the Fed has pulled off quite a "trick" by actually moving a step closer to tightening and somehow pacifying the markets. That sounds more like it - more smoke and mirrors and the vague promise of more global stimulus ex-Fed, such as the last resort NIRP undertaken by the SNB. Meanwhile yields are higher and that is helping to continue to prop up the dollar.
13:15 EDTTreasury's $16 B 5-year TIPS reopening was well received
Subscribe for More Information
12:55 EDTFX Action: USD-JPY's pop over 119.31 earlier
Subscribe for More Information
12:55 EDTEuro$ interest rate options: another flurry of activity
Euro$ interest rate options: another flurry of activity included some heavier put structures such as a bearish purchase of 15k in September 87/90 put spreads. There was a 10k purchase of Red June vs sale of Short June 85 put spreads, a bullish purchase of 8k in Green March 78/80 call spreads and a liquidation of 2.5k in Short January 85/87 put 1x2s. March 2015s are flat at 99.7050, with the deferreds as much as 12-ticks lower out the back as the Fed trajectory is reassessed in the wake of yesterday's convoluted statement.
12:50 EDTFed Chair Yellen said one of the FOMC's goals has been to "communicate"
Subscribe for More Information
12:40 EDTTreasury 5-year TIPS preview:
Subscribe for More Information
11:25 EDTFormer Fed Chairman Bernanke opined on monetary policy
Subscribe for More Information
11:15 EDTFX Action: USD-CAD remains over 1.1600
FX Action: USD-CAD remains over 1.1600 after topping out near 1.1630. The pairing has found support on the back of softer oil prices through the morning, though talk of standing offers in place from 1.1650 to 1.1700 are expected to cap gains going forward. Rumors of Repsol/Talisman backed selling interest remains in the market today.
11:05 EDTOil Action: NYMEX crude is well off its intra day high
Subscribe for More Information
10:55 EDTToday's U.S. reports
Subscribe for More Information
10:45 EDTEuro$ interest rate options: lively block and pit trade
Subscribe for More Information
10:30 EDTEIA natural gas storage change for week ending December 12
Gas inventories 64 Bcf draw vs. consensus of 60 Bcf draw.
10:25 EDTThe Philly Fed drop to 24.5 in December
Subscribe for More Information
10:15 EDTU.S. Philly Fed index dropped 16.3 points back to 24.5 in December
Subscribe for More Information
10:15 EDTTreasury Action: yields still remain elevated
Subscribe for More Information
10:10 EDTFX Action: The dollar showed little if any reaction
Subscribe for More Information
10:08 EDTPhiladelphia Fed Survey General Business Conditions Index data reported
Subscribe for More Information
10:08 EDTLeading Indicators data reported
Subscribe for More Information
10:00 EDTU.S. leading indicators preview:
Subscribe for More Information
09:48 EDTFed comments continue to push market higher
Subscribe for More Information
09:25 EDTYellen's playbook puts labor slack over oil price declines:
Subscribe for More Information
08:50 EDTThe 6k U.S. initial claims drop to 289k
Subscribe for More Information
08:50 EDTU.S. equities are on the warpath
Subscribe for More Information
08:45 EDTTreasury Action: yields remained elevated
Treasury Action: yields remained elevated in the wake of the drop in jobless claims, which did little to slow the ramp-on rally in equities in the wake of the Fed and SNB meetings. That's seen the T-note yield clear 2.18% earlier compared to the 2.13% close before consolidating again. The 2s-10s spread has widened out to +155 bp, while the 5s-30s has settled near +112 bp. Stocks are poised to open sharply higher.
08:45 EDTFX Action: The dollar picked up marginally
Subscribe for More Information
08:40 EDTThe Financial Stability Oversight Council to hold a meeting
Subscribe for More Information
08:40 EDTU.S. initial jobless claims fell 6k to 289k in the week ended December 13
Subscribe for More Information
08:34 EDTFutures continue to suggest sharply higher open
Subscribe for More Information
08:20 EDTU.S. initial jobless claims preview:
Subscribe for More Information
08:00 EDTOil Action: NYMEX crude remained relatively firm
Subscribe for More Information
07:50 EDTTreasury Market Outlook: Treasuries are lower
Subscribe for More Information
07:46 EDTThe Heritage Foundation holds a discussion on economic growth in 2015
Subscribe for More Information
07:37 EDTThe SEC to hold a closed commission meeting
Closed Commission Meeting to discuss institution and settlement of injunctive actions, institution and settlement of administrative proceedings and other matters relating to enforcement proceedings is being held at SEC Washington, D.C. offices on December 18 at 2 pm.
07:35 EDTThe FDA to hold a closed joint advisory committee meeting
The Reproductive & Urologic Drugs Advisory Committee and the Drug Safety & Risk Management Advisory Committee discuss whether the FDA should permit further clinical development of an existing investigational drug product, which will include the review of trade secret and/or confidential information, in a closed meeting being held at FDA Silver Spring, Maryland offices on December 18 at 8:15 am.
07:26 EDTStandard & Poor to hold a webinar
Subscribe for More Information
07:14 EDTFed's comments lift futures
Subscribe for More Information
07:00 EDTN.Y. FX Outlook
Subscribe for More Information
06:50 EDTFX Update: The main dollar pairings mostly consolidated
Subscribe for More Information
05:58 EDTOn The Fly: Morning Wrap-Up for December 18
Subscribe for More Information
05:54 EDTDecember front month equity options last day to trade is December 19, 2014
Subscribe for More Information
02:15 EDTFX Update: The dollar has traded higher
Subscribe for More Information
December 17, 2014
17:23 EDTWeek of 12/26 EIA Natural Gas Report to be released at 12:00
Subscribe for More Information
16:52 EDT 6-Month Bill Announcement to be released at 11:00
Subscribe for More Information
16:52 EDT 3-Month Bill Announcement to be released at 11:00
Subscribe for More Information
16:52 EDTWeek of 12/26 EIA Petroleum Status Report to be released at 11:00
16:50 EDTFed Statement Requires Considerable Patience from Markets:
Subscribe for More Information
15:55 EDTFed funds futures were all over the board on the FOMC statement
Subscribe for More Information
15:35 EDTFed discussed slowing growth abroad, including the fallout from Russia
Fed discussed slowing growth abroad, including the fallout from Russia as the ruble has depreciated enormously. But she noted that the spillovers to U.S. from Russia are likely to be small. Europe is more exposed to Russian events than the U.S. is. The FOMC will continue to monitor, though, as movements in oil prices can be large and unexpected. Leverage in the financial system is now way down compared to pre-crisis levels.
15:30 EDTYellen on dissents: there are a wide range of opinions on the Committee
Subscribe for More Information
15:24 EDTYellen says spillovers to U.S. from Russia likely to be small
Subscribe for More Information
15:15 EDTMore from Yellen: "a couple means two" according to the dictionary
Subscribe for More Information
15:00 EDTFX Action: Fed Yellen's references to "begin 'normalization'
Subscribe for More Information
15:00 EDTThe FOMC Forecast revisions
Subscribe for More Information
15:00 EDTYellen said "patience" meand no rate moves over the next couple of meetings
Yellen said "patience" meand no rate moves over the next couple of meetings. But in another breath she added that "every meeting is live" for policy action. There were wide ranging views on rate hikes she confirmed. The Fed is "attentive" to global market developments. And the very substantial drop in oil prices is shaping the global outlook. Cheaper energy prices is like a tax cut to U.S. consumers and is a positive for the economy. There is also a downward effect on price pressures, but Yellen reiterated the slid in oil prices should be transitory.
14:52 EDTYellen says oil price drop 'like a tax cut' for households
Subscribe for More Information
14:50 EDTFed Policy Outlook: there's little information to be gleaded
Subscribe for More Information
14:47 EDTYellen says rate hike could occur sooner than now anticipated
The Fed Chair said it's "unlikely" that a rate hike will occur in the first two meetings of the year. She said a number of FOMC members believe that a rate hike could occur in the middle of 2015.
14:45 EDTYellen says timeline for rate hike dependent on data
Subscribe for More Information
14:43 EDTYellen says FOMC members differ on interest rate hike timeline
FOMC members have different views on when in 2015 the Fed should increase interest rates, Yellen said. Members want to see further improvement in the labor market before interest rates increase, she added.
14:41 EDTYellen says Fed unlikely to begin policy normalization in next couple meetings
Subscribe for More Information
14:34 EDTYellen says Fed continues to expect moderate economic growth
Subscribe for More Information
14:33 EDTYellen says still sees room for improvement in labor market
Subscribe for More Information
14:31 EDTYellen says new guidance does not represent change in policy outlook
Subscribe for More Information
14:19 EDTFed cuts 2015 inflation outlook to 1%-1.6% from 1.6%-1.9%
Subscribe for More Information
14:18 EDTFed lowers 2015 unemployment outlook to 5.2%-5.3% from 5.4%-5.6%
14:18 EDTMarket at highs after Fed says can be patient on policy normalization
Subscribe for More Information
14:17 EDTFed keeps 2015 GDP growth outlook unchanged at 2.6%-3%
Subscribe for More Information
14:16 EDTDeutsche Bank Russian strategist/economist analyst/industry conference call
Subscribe for More Information
14:16 EDTFed lowers 2014 inflation outlook to 1.2%-1.3% from 1.5%-1.7%
14:16 EDTFed lowers 2014 unemployment outlook to 5.8% from 5.9%-6%
Subscribe for More Information
14:15 EDTFed raises 2014 GDP growth outlook to 2.3%-2.4% from 2%-2.2%
14:15 EDTFOMC said it can be "patient in beginning to normalize" its policy stance
Subscribe for More Information
14:15 EDTTreasury Action: yields knee-jerked lower initially
Subscribe for More Information
14:05 EDTWeek of 12/27 Jobless Claims to be released at 08:30
Subscribe for More Information
14:05 EDTWeek of 12/26 MBA Purchase Applications to be released at 07:00
Subscribe for More Information
14:03 EDTFed says 'can be patient' in beginning to normalize rates
Subscribe for More Information
14:01 EDTFed says can 'be patient' in approach to raising rates
Subscribe for More Information
14:00 EDTFederal Reserve keeps 'considerable time' phrase in statement
14:00 EDTFOMC preview: it's T-minus 10 and counting
Subscribe for More Information
13:50 EDTTreasury Action: Treasuries continue to drift lower into the FOMC
Treasury Action: Treasuries continue to drift lower into the FOMC announcement, taking the path of least resistance. Even though the markets have been setting up for the likely removal of "considerable time" as the Fed inches toward rate hikes, curve flatteners dominate. The 5s-30s spread narrowed over 2 bps to a fresh year-to-date low at 115 bps. Assuming "considerable time" is replaced with language suggesting the FOMC will take a patient approach to rate hikes, and Yellen shows no urgency in normalization, bonds can recover with the curve steepening out slightly for the near term.
13:30 EDTFX Action: USD-JPY traded a few points over
Subscribe for More Information
12:40 EDTU.S. Cleveland Fed's CPI edged up 0.1% in November
U.S. Cleveland Fed's CPI edged up 0.1% in November, in contrast to the BLS's -0.3% print. The 16% trimmed mean rose 0.1% too, but in line with the BLS measure. The annual rate on the Median CPI was unchanged at 2.3% y/y, with the 16% trimmed mean at 1.8% y/y versus 1.9% y/y previously, versus the slowing in the BLS headline to a 1.3% y/y clip from 1.7% y/y and the core to 1.7% from 1.8%. So pretty much no matter what method is used to look at inflation, price pressures are steady or are moving lower.
12:30 EDTU.S. equities jerked back to highs
U.S. equities jerked back to highs ahead of the FOMC decision, closely tracking the $3 recovery in NYMEX crude back above $58 bbl as Russia also appeared to get its financial house in order and engineer a sharp rebound in the ruble. That has slashed losses on European stocks, with the Euro Stoxx 50 back in the green, while Russia's RTS is 14.4% higher. Blue Chips are leading the surge, up some 1.25%, followed by the NASDAQ comp for a change with a 1.0% gain. Within the Dow it is no coincidence that Chevron +4.6% and Exxon +3.4% are among the top gainers. The historic thaw of relations between Cuba and the U.S., along with prisoner exchanges and travel policies no doubt helped fuel some optimism on the margin as well. The expected FOMC decision to replace "considerable time" with "patience" is also seen as pretty palatable and more a function of improving fundamentals than a levy on the markets, especially after tame CPI. Note, the VIX equity volatility index is 7.7% lower near 21.75, down from highs of 24.61. The dollar has bounced and Treasury yields are back near session highs.
12:20 EDTFX Action: USD-CAD has traded into 1.1610
Subscribe for More Information
11:55 EDTU.S. swap spread narrowing has kicked in
Subscribe for More Information
11:35 EDTFOMC Forecast revisions
Subscribe for More Information
11:10 EDTFX Action: USD-CAD rallied to highs
Subscribe for More Information
11:05 EDTDeutsche Bank Russian strategist/economist analyst/industry conference call
EMEA Economist Burgess, along with Chief Russian Strategist Pikulev, discuss their thoughts and trades on Russia on an Analyst/Industry conference call to be held on December 18 at 9 am.
11:00 EDTOil Action: NYMEX crude has bounced sharply
Subscribe for More Information
10:55 EDTEuro$ interest rate options: mostly bullish positioning
Euro$ interest rate options: mostly bullish positioning has been spied ahead of the FOMC decision, implying that the statement could be pretty tame despite any expected changes from "considerable" to "patient". Among them were a 5k purchase of Short January 91/92 call spreads vs 85/86/87 put butterflies. Also, a 5k purchase of September 95 calls vs 91/93 put spreads, a purchase of 3k in Green January call 1x2s and sale of 15k in Green January 78 puts. The March 2015 contract is flat at 99.705, while the deferreds are up to 3.5-ticks lower out the curve.
10:45 EDTOil Action: Front month NYMEX crude fell to $54.80
Subscribe for More Information
10:30 EDTCrude inventories for week of December 12
Subscribe for More Information
10:10 EDTTreasury Option Action: more mixed positioning
Subscribe for More Information
09:47 EDTMarket opens higher despite lower oil prices
Subscribe for More Information
09:45 EDTThe unexpected U.S. current account widening
Subscribe for More Information
09:30 EDTMinneapolis Fed's Kocherlakota will not seek another term
Minneapolis Fed's Kocherlakota will not seek another term, according to the Fed's website. His term expires on February 29, 2016. He took office in 2009 and initially followed the hawkish reputation of the regional bank. But he shifted his views toward a very dovish outlook in recent years and supported active central bank intervention which clashed with the traditional stance of the research staff. Indeed, the transformation has so great that he even dissented at the October FOMC meeting in favor of keeping rates lower for longer. It looks unlikely that he would have been supported for a second term. Hence, today will be his final voting opportunity.
09:15 EDTFX Action: USD-CAD stalled into Tuesday's 1.1665 highs in London trade
Subscribe for More Information
09:15 EDTFOMC preview: the FOMC has resumed its meeting
FOMC preview: the FOMC has resumed its meeting and will announce its policy decision at 14:00 ET, with Yellen's press conference following at 14:30 ET. The strength in the economy and the labor market exhibited over the last couple of quarters should finally give policymakers enough confidence to continue its normalization process (after ending QE) by removing the "considerable time" language. But there won't be any definitive indication of the timing of rate lift-off. That will especially be the case given the failure of inflation to meet the 2% target (highlighted by the decline in November CPI), ongoing worries about a negative market reaction, not to mention the recent financial market turbulence. Indeed, analysts suspect the Committee will look beyond the recent volatility, as well as the signs of slower growth abroad as it crafts the policy statement. And this week's FOMC meeting offers the best opportunity for such changes since Yellen will be able to more fully explain the changes in the press conference. Nevertheless, assuming "considerable time" is removed, even if replaced by some indication of a "patient" approach, the markets will immediately jump to pricing in the first rate hike into the June 16, 17 meeting. That would be consistent with the 6-month time-frame suggested by Yellen's faux pas at her first presser back in March.
09:05 EDTThe big 0.3% November U.S. CPI headline drop undershot estimates
Subscribe for More Information
09:05 EDTYellen's methodical style could tip scales on the "considerable time" debate
Subscribe for More Information
08:56 EDTJPMorgan insurance analysts hold analyst/industry conference call
Subscribe for More Information
08:50 EDTU.S. equities rebounded from lows
Subscribe for More Information
08:45 EDTU.S. CPI fell 0.3% in November with the core rate edging up 0.1%
Subscribe for More Information
08:45 EDTU.S. current account balance widened unexpectedly to -$100.3 B
Subscribe for More Information
08:45 EDTTreasury Action: yields reversed lower
Subscribe for More Information
08:40 EDTFX Action: The dollar slipped
Subscribe for More Information
08:37 EDTITG Research finance analysts hold an analyst/industry conference call
Analysts discuss how the United Kingdom's Financial Conduct Authority (FCA) is changing the global CSA landscape on an Analyst/Industry conference call to be held on December 17 at 11:30 am.
08:33 EDTCurrent Account data reported
Subscribe for More Information
08:33 EDTFutures remain higher following report on consumer prices
Stock futures continue to indicate a market bounce at the open following the monthly consumer prices report. The data showed that prices fell 0.3% versus expectations of a decrease of 0.1%. The core reading, which excludes food and energy prices, showed an increase of 0.1% versus an expected increase of 0.1%. The Current Account Balance report showed a deficit of $100.3B versus expectations of a deficit of $97.5B.
08:20 EDTU.S. CPI preview:
U.S. CPI preview: November headline CPI is expected to fall by 0.1% (median -0.1%) vs unchanged in October, while the core index rises 0.1% (median 0.1%) vs 0.2%. Energy prices are expected to dip 3% on the month, with a gasoline prices falling 6%. Food prices have risen in a 0.1%-0.4% range over the past three years, though the recent drought in California had an upward effect with the 0.5% May rise being the largest since August of 2011. Yet forecast risk is downward, as collapsing oil prices will likely weigh on the headline. For more detail, see our CPI preview.
08:20 EDTU.S. current account preview:
Subscribe for More Information
08:15 EDTOil Action: NYMEX crude trades at $54.30
Oil Action: NYMEX crude trades at $54.30, after peaking at $55.94. The contract posted its low of the day just a few minutes ago, touching $54.20. Reports that OPEC and Russia will continue to pump have kept a cap on prices, with some cartel members saying they will wait a year or more for prices to stabilize. The underlying motive appears to be to put high cost U.S. shale producers out of business. Tuesday's $53.59 trend low is seen as initial support, though as has been the case for several weeks, when previous lows are broken, another round of selling quickly puts a fresh low in place.
07:58 EDTFederal Reserve Chairman Yellen holds press briefing
Subscribe for More Information
07:51 EDTThe Federal Open Market Committee (FOMC) releases meeting announcement
Subscribe for More Information
07:50 EDTSPDR Barclays High Yield Bond ETF volatility elevated as yields rise
SPDR Barclays High Yield Bond ETF December call option implied volatility is at 27, January is at 16, March is a 14; compared to its 26-week average of 8 according to Track Data, suggesting large price movement.
07:45 EDTTreasury Market Outlook: Treasuries are weaker on profit taking
Treasury Market Outlook: Treasuries are weaker on profit taking ahead of this afternoon's FOMC statement where risk is it leans to the hawkish side despite recent financial turbulence. There's also more unwinding of the flight to quality trade as Russian markets try to stabilize. The 10-year note yield has risen over 4 bps back to 4.10%. Overseas bond markets are mixed. The German Bund is outperforming with the yield slightly lower at 0.588%, held in check by dovish ECBspeak and soft inflation. Gilt rates are higher after a larger than expected decline in the claimant count. U.S. equity futures are correcting from this week's slide. Of course the FOMC, along with Yellen's press conference and the release of the Fed's new forecasts highlight. Today's data includes November CPI numbers and the Q3 current account. The MBA reported mortgage applications fell 3.3% for the week ended December 12.
07:41 EDTFCC to hold a meeting of the WRC-15 Advisory Committee
Subscribe for More Information
07:39 EDTThe SEC Advisory Committee on Small and Emerging Companies holds a meeting
Subscribe for More Information
07:35 EDTFDA Food Advisory Committee to hold a meeting
Subscribe for More Information
07:35 EDTU.S. MBA mortgage market index sank 3.3%
U.S. MBA mortgage market index sank 3.3% in data released earlier, in addition to a 6.9% drop in the purchase index and a flat reading on the refinancing index. This continued the rather somber mortgage activity readings of late despite lower mortgage rates, with the average 30-year fixed rate coming in 5 basis points lower near 4.06%. That was the lowest level of mortgage rates since May 2013 as weaker global growth continued to trump sparks of improved domestic conditions. The Fed will be sensitive to the recovery in the housing sector, which "remains slow" and was the catalyst for the financial market crisis, though it still may desire to tune the policy setting for normalization. For more on the housing sector, see our existing home sales, housing starts and new home sales reports.
07:35 EDTN.Y. FX Outlook
Subscribe for More Information
07:21 EDTGlobal Hunter Securities to hold a conference
Subscribe for More Information
07:20 EDTFX Update: The has dollar traded firmer today
Subscribe for More Information
07:19 EDTBofA/Merrill to hold a conference
2014 Disruptive Technology Day is being held in New York on December 17.
07:19 EDTFutures suggest market bounce at the open
Subscribe for More Information
07:18 EDTSPDR S&P Oil and Gas Exploration and Production ETF volatility up on movement
SPDR S&P Oil and Gas Exploration and Production ETF overall option implied volatility of 57 compares to its 26-week average of 29 according to Track Data, suggesting large price movement.
06:56 EDTSentiment among Asian companies improved, Reuters says
An index that seeks to measures business sentiment among Asia's largest companies increased to 72 in Q4, up from 66 in the previous three months, according to Reuters. The reading was the second highest in almost three years, trailing only the 74 reading of the second quarter of this year, the news service added. Reference Link
06:25 EDTFX Action: USD-JPY is trading relatively steadily
Subscribe for More Information
06:02 EDTOn The Fly: Morning Wrap-Up for December 17
Subscribe for More Information
05:57 EDTDecember front month equity options last day to trade is December 19, 2014
Subscribe for More Information
04:34 EDT 4-Week Bill Auction to be released at 11:30
Subscribe for More Information
01:30 EDTFX Update: The Aussie dove to new trend lows
FX Update: The Aussie dove to new trend lows with AUD-USD diving below 0.8200 and logging a four-year low at 0.8145. The didn't appear to be a catalyst, and stock markets and commodity prices were generally steadier in Asia-Pacific, though there remain prevailing concerns about the growth outlook in Asia and globally. The Asia Development Bank trimmed its growth forecast for the region to 6.1% from 6.2% for 2014 and to 6.2% from 6.4%. The NZD also traded lower after RBNZ's McDermott said that the exchange rates is still "unjustifiable" and "unsustainable." USD-JPY traded relatively steadily in Tokyo after yesterday's sharp decline to a 115.57 low and recovery to 117.76. Concerns that Russia may be headed for a default, similar to 1998 (the Russian central bank estimates that the economy will contract 4.6% in 2015 if oil prices stay at $60)) should keep a USD-JPY a sell on rallies. The yen traded sharply higher during the 1997-1998 financial crisis period. EUR-USD sank back below 1.2500 after peaking yesterday at 1.2569. Market focus is now squaring on the FOMC announcement and press conference. Analysts think the Fed will drop the "
December 16, 2014
23:00 EDTReaction to Japan's trade gap has been relatively mild
Subscribe for More Information
18:01 EDTMoody's cuts Alaska outlook to Negative from Stable, cites price of oil
Moody's Investors Service has revised the credit outlook for the State of Alaska to negative from stable, following a plunge in oil prices since the start of the state's fiscal year that now threatens to rapidly and significantly reduce the state's budgetary reserves. The outlook applies to $840M of general obligation debt, rated Aaa; $290M of subject-to-appropriation debt, rated Aa1; and to about $870M of bonds backed by the state's moral obligation that have been issued by the Alaska Municipal Bond Bank and by the Alaska Energy Authority and that are rated Aa2. At the same time, we have affirmed the Aaa rating assigned to the state's GO bonds, the Aa1 rating assigned to subject-to-appropriation debt, and the Aa2 rating assigned to the moral obligation bonds. Reference Link
17:22 EDT.
Subscribe for More Information
17:22 EDTWeek of 12/27 Redbook to be released at 08:55
Subscribe for More Information
17:22 EDTWeek of 12/27 ICSC-Goldman Store Sales to be released at 07:45
15:11 EDTSPDR Barclays High Yield Bond ETF volatility spikes as ETF at three-year low
SPDR Barclays High Yield Bond ETF December call option implied volatility is at 17, January is at 15, March is a t3; compared to its 26-week average of 8 according to Track Data, suggesting large price movement.
15:00 EDTTreasury Closing Summary:
Treasury Closing Summary: A wild ride on Tuesday saw further trend lows in oil pull the carpet out from under the Russian ruble, in turn provoking a 6.5% hike in Russian base rates to 17%. Initially that saw stocks, yields and the dollar plunge as the risk switch flipped to "off", but the ruble eventually fought its way back with stocks, the dollar and yields following suit. Quite a day for the FOMC to begin to assess its rhetorical options and potential market reaction, while both housing starts and Markit flash PMI faltered.
14:45 EDTOil price volatility leading to swings in equity market
Subscribe for More Information
14:35 EDTCanada Wholesale Shipment Preview
Canada Wholesale Shipment Preview: Analysts expect shipments, due Wednesday, to fall 0.5% in October after the 1.8% surge in September. The forecast risk is downward given the hefty gain in September. While this report is typically overlooked, but an as expected drop would track expectations for a slowing in October GDP to a 0.1% m/m rate of growth after the 0.4% surge in September GDP.
13:47 EDTMarket-Vector Russia ETF Trust December volatility elevated at 123
Subscribe for More Information
13:40 EDTTreasury Option Action: mostly bullish positioning was the rule
Subscribe for More Information
13:15 EDTFX Action: USD-JPY has recovered sharply
Subscribe for More Information
13:10 EDTFOMC preview: the FOMC began its meeting
Subscribe for More Information
12:50 EDTFOMC Forecast revisions
FOMC Forecast revisions from this week's FOMC meeting will be revealed Wednesday, and later in the January 7 FOMC minutes. Analysts expect boosts in the 2014 GDP and PCE chain price figures due to stronger Q3 and Q4 growth prospects since September and the sharp year-end plunge in oil prices. Analysts expect a trimming in 2014 high-end estimates for core inflation and the Fed funds rate. Beyond 2014, the GDP growth estimates are likely to be trimmed and narrowed, as only the low-end estimates look too pessimistic, while headline inflation will likely be lowered modestly in 2015 and 2016 given the weak trajectory for energy prices and lower global growth estimates. Future core inflation estimates will likely be lowered only slightly. All the jobless rate estimate will likely be lowered, as is typical at each meeting given continued weak labor force growth. Future Fed funds rate estimates should be narrowed slightly, as views converge toward the consensus. page for a table of our assumptions for the Fed's revised forecasts.
12:30 EDTOil Action: Crude trade remains very volatile
Oil Action: Crude trade remains very volatile, with the NYMEX contract running up to $57.11 from trend lows of $53.59, then sliding to current $55.49 lows. Weak shorts were squeezed out on the move over $56 according to sources, with fast money reportedly the sellers on the quick move over $57.
12:15 EDTU.S. VIX volatility slumped back toward 20.0
U.S. VIX volatility slumped back toward 20.0 as oil, the ruble and stocks all made some headway frmo lows, after roaming as high as 2-month highs 25.20 earlier. The surge in the VIX started from lows near 11.53 on payrolls Friday earlier in the month and now looks to have some resistance in the 25.0 area. The S&P 500 broke below 2k yesterday and lanced its 100-day moving average of 1,988 en route to December lows of 1,976.4 today before snapping back to highs of 2,016.8.
11:45 EDTTreasury $40 B 4-week bill auction was mixed
Subscribe for More Information
11:40 EDTU.S. equities recovered some poise
U.S. equities recovered some poise taking their signal from the recovery in the ruble below 70.0 vs the dollar to 68.0, while crude oil has backed up over $55 bbl again. That has inspired some short-covering gains on the major indices, led by NASDAQ at +0.6%. The Euro Stoxx 50 has gained 1.5% and the Italian MIB is 2.7% higher, while Russia's MICEX has flipped 1.3% into the green (RTS still -12.3%). Top gainers in the Dow are Chevron +2.3%, Boeing +2.0% and 3M +1.7%. USD-JPY is playing along with the "risk on" rebound, angling toward session highs near 118.01 again.
10:58 EDTStifel REITs analysts hold an analyst/industry conference call
Subscribe for More Information
10:50 EDTTreasury Curve Action: flattening into the FOMC
Subscribe for More Information
10:35 EDTOil Action: NYMEX crude has traded up to $55.20 highs
Subscribe for More Information
10:27 EDTCrashing ruble, sliding crude prices weigh on equities
Subscribe for More Information
10:24 EDTBarclays industrials analysts hold an analyst/industry conference call
Industrials Analyst Research Team provides a weekly industry outlook on an Analyst/Industry conference call to be held on December 16 at 11 am.
10:00 EDTFX Action: USD-CAD has traded off its 1.1665 high
Subscribe for More Information
09:55 EDTU.S. Markit flash PMI dropped to 53.7 in December
Subscribe for More Information
09:20 EDTThe 1.6% November U.S. housing starts drop
The 1.6% November U.S. housing starts drop to a 1.028 M clip defied much of the expected weather-hit thanks to a hefty bounce in activity in the West, while permits fell 5.2% to a still respectable 1.035 M. Home completions fell 6.4%, with a shortfall in the Northeast and Midwest, that marked the only clear weather-impact. Analysts saw solid growth in housing starts "under construction" that guides GDP forecasts. Harsh weather began in the second week of November, but it had little apparent impact on the jobs data from the BLS survey week and on today's starts and permits data, though the utility figures from the last industrial production report revealed a massive 5.1% surge, and completions have posted a 9.2% two-month drop. Starts and permits are poised for quarterly rates of 1.031 M and 1.052 M respectively that still reflects a net weather-hit, after prior rates of 1.030 M for both in Q3 (was 1.031 for starts). Analysts still assume that weather at least partly disrupts the November data for new and existing home sales, as well as construction spending, alongside the flat November construction hours-worked figure.
09:10 EDTEuro$ interest rate options: after a very slow start
Subscribe for More Information
08:50 EDTFX Action: The dollar moved lower
FX Action: The dollar moved lower after the housing starts data, which were largely in line with consensus. EUR-USD rallied toward 1.2535 from 1.2510 as USD-JPY eased into 116.25 from 116.50. The dollar has since recovered most of its knee-jerk losses. Equity futures have recovered some of their losses since the N.Y. open, while yields are off their lows as well. NYMEX crude meanwhile, has posted fresh trend lows of $53.69.
08:45 EDTU.S. housing starts fell 1.6% to 1.028 M in November
Subscribe for More Information
08:45 EDTTreasury Action: yields rebounded from lows
Subscribe for More Information
08:42 EDTBernstein utilities analyst holds an analyst/industry conference call
Subscribe for More Information
08:35 EDTStock futures show little interest in housing data
Subscribe for More Information
08:30 EDTOil Action: NYMEX crude is trading at $54.00
Subscribe for More Information
08:15 EDTU.S. Housing Starts Preview
U.S. Housing Starts Preview: November housing starts should reveal a 1.9% headline decline to a 990k (median 1,025k) pace for the month from 1,009k in October. Also in the release will be permits which should decline to 1,010k from 1,092k in October and completions which are seen rising to 900k from 881k in October.
08:10 EDTCanada Manufacturing Preview
Subscribe for More Information
08:00 EDTU.S. ICSC Goldman Sachs chain store sales index posted a 3.0% rebound
Subscribe for More Information
07:58 EDTBoard of Governors of the Federal Reserve to hold a closed meeting
Subscribe for More Information
07:56 EDTFDIC to hold a meeting
Subscribe for More Information
07:48 EDTFDA Food Advisory Committee to hold a meeting
The Committee discusses science issues surrounding susceptible life stages or populations and circumstances under which the FDA might decide to conduct a separate risk assessment for these populations in a meeting being held at FDA Silver Spring, Maryland offices on December 16 at 8:30 am. Webcast Link
07:35 EDTTreasury Market Outlook: Treasuries are sharply higher in a flight to quality
Subscribe for More Information
07:32 EDTThe Federal Open Market Committee (FOMC) holds a meeting
Subscribe for More Information
07:31 EDTWolfe Research to hold a conference
Subscribe for More Information
07:25 EDTFX Action: The JPY is surging, and the RUB is plunging
Subscribe for More Information
07:10 EDTFX Update: USD-JPY drove broader dollar declines
FX Update: USD-JPY drove broader dollar declines, while strong Eurozone PMI data supported EUR-USD. USD-JPY touched a low of 116.22, the lowest since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries pointed to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. A mixture of interbank and speculative selling, along with sell-stop orders were also in the mix. Weak PMI figure out of China weighted on stocks in Asia, though equities managed to recover from a six-day losing streak in Europe. EUR-USD, meanwhile, logged a three-week high of 1.2528 in the wake of the PMI data. As from the data influences, there has also been a dollar-negative narrative in markets that says the recent dive in oil prices will strengthen the voice of the doves at the Fed's FOMC this week (announcement Wednesday), though analysts still expect the "considerable time" phrase to be dropped. AUD-USD scraped out a fresh four-year low of 0.8200 before recovering to the mid-0.82s. The minutes to the RBA's December meeting repeated that rate stability is likely most prudent course and that a further fall in currency is needed for economy. Cable rebounded recovered the 1.57 handle after a post-data dip to 1.5610, even though UK November CPI fell to 1.0%, the lowest since September 2002.
07:05 EDTFX Update: USD-JPY drove broader dollar declines
FX Update: USD-JPY drove broader dollar declines, while strong Eurozone PMI data supported EUR-USD. USD-JPY touched a low of 116.22, the lowest since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries pointed to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. A mixture of interbank and speculative selling, along with sell-stop orders were also in the mix. Weak PMI figure out of China weighted on stocks in Asia, though equities managed to recover from a six-day losing streak in Europe. EUR-USD, meanwhile, logged a three-week high of 1.2528 in the wake of the PMI data. As from the data influences, there has also been a dollar-negative narrative in markets that says the recent dive in oil prices will strengthen the voice of the doves at the Fed's FOMC this week (announcement Wednesday), though analysts still expect the "considerable time" phrase to be dropped. AUD-USD scraped out a fresh four-year low of 0.8200 before recovering to the mid-0.82s. The minutes to the RBA's December meeting repeated that rate stability is likely most prudent course and that a further fall in currency is needed for economy. Cable rebounded recovered the 1.57 handle after a post-data dip to 1.5610, even though UK November CPI fell to 1.0%, the lowest since September 2002.
06:39 EDTChina PMI signals factory contraction, Reuters says
The output of China's factories fell in December for the first time in seven months, as the flash HSBC/Markit manufacturing purchasing managers' index dropped to 49.5 this month, versus the 50.0 reading forecast by analysts, according to Reuters. Any reading below 50.0 indicates contraction. Reference Link
06:06 EDTMarket-Vector Russia ETF Trust volatility increases as ruble & stocks decline
Subscribe for More Information
06:00 EDTOn The Fly: Morning Wrap-Up for December 16
Subscribe for More Information
06:00 EDTFX Action: USD-JPY has led broader dollar declines
FX Action: USD-JPY has led broader dollar declines today. The pair touched a low of 116.22, the lowest point seen since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries are pointing to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. Interbank and speculative traders have also been riding sell-stop orders. Asia stock markets were affected by the Markit/HSBC Chinese manufacturing PMI for December, which came in at 49.5 in the flash estimate, down on the 49.8 median and the first sub-50 contractionary reading in seven months. European stocks have fared better, managing to rebound from a six-day decline. Bigger picture fundamentals remain yen bearish with PM Abe's landslide victory at the weekend's election giving a fresh mandate to yen-negative 'Abenomics' policies.
05:44 EDTDecember front month equity options last day to trade is December 19, 2014
Subscribe for More Information
02:35 EDTFX Update: USD-JPY led the dollar lower
Subscribe for More Information
02:30 EDTFX Update: USD-JPY led the dollar lower
FX Update: USD-JPY led the dollar lower today. The pair's move correlated fresh declines in Asian stock markets following the Markit/HSBC China manufacturing PMI for December, which came in at 49.5 in the flash estimate, down on the 49.8 median and first sub-50 contractionary reading in seven-months. USD-JPY logged a one-month low of 117.12, which is just over 50 pips down on Monday's New York closing level. Japan's Markit manufacturing PMI for December, came in at 52.1 in the initial estimate. The decline in USD-JPY led dollar losses elsewhere, though most pairings remained within the ranges seen yesterday. EUR-USD lifted back above 1.2450. AUD-USD edged out a fresh four-year low of 0.8200 before recovering to the 0.8240 area. The minutes to the RBA's December meeting repeat that rate stability is likely most prudent course and that a further fall in currency is needed for economy.
December 15, 2014
23:10 EDTChina's preliminary manufacturing PMI (HSBC/Markit) fell to 49.5 in December
Subscribe for More Information
17:21 EDTRussia raises key rate to 17% per annum
The following is a statement from the The Central Bank of the Russian Federation: "From 16 December 2014 the Bank of Russia Board of Directors decided to raise the Bank of Russia key rate to 17% per annum. This decision is aimed at limiting substantially increased ruble depreciation risks and inflation risks. From 16 December 2014 in order to strengthen the efficiency of monetary policy loans secured by non-marketable assets or guarantees for 2 to 549 days will be provided at a floating interest rate, set at the Bank of Russia key rate level, increased by 1.75 percentage points (up to the present these loans for 2 to 90 days were provided at fixed rate). Moreover, for further expanse of credit institution ability to manage their foreign exchange liquidity it was decided to increase maximum allotment amount for 28-day FX REPO auctions from 1.5 to 5.0 billion USD and to conduct 12-month FX REPO auctions on weekly basis." Reference Link
17:07 EDT 6-Month Bill Auction to be released at 11:30
Subscribe for More Information
17:07 EDT 3-Month Bill Auction to be released at 11:30
16:28 EDT 4-Week Bill Announcement to be released at 11:00
Subscribe for More Information
16:15 EDTU.S. TIC data showed foreign accounts sold $1.4 B in net long-term assets
U.S. TIC data showed foreign accounts sold $1.4 B in net long-term assets in October, after purchasing $164.3 B in September. But, overseas accounts purchased $178.4 B in net assets in October versus a sale of $57.2 B (revised from -$55.6 B). Only $0.54 B in Treasury coupons were bought in October, compared to $48.1 B previously, while $7.9 B in corporate bonds were purchased, along with $3.6 B in agencies; accounts sold $27.2 B in equities. China was the largest seller of Treasury coupons, dumping $13.6 B, followed by France (-$12.6 B) and then Russia (-$8.8 B). Ireland was the biggest buyer of Treasuries at $13.3 B, followed by the Caribbean ($9.9 B), then Luxembourg ($6.4 B).
15:05 EDTBill Gross of Janus likes TIPS
Subscribe for More Information
14:55 EDTTreasury Closing Summary:
Subscribe for More Information
14:40 EDTStocks enduring see-saw action as oil prices fall again
Subscribe for More Information
14:20 EDTU.S. Housing Starts Preview
Subscribe for More Information
13:59 EDTDirexion Daily Energy Bear 3X Shares volatility elevated on wide energy movement
Subscribe for More Information
13:55 EDTFX Action: USD-CAD posted trend highs of 1.1652
Subscribe for More Information
13:25 EDTTreasury Option Action: now some activity
Subscribe for More Information
13:05 EDTFOMC Forecast revisions
Subscribe for More Information
12:50 EDTU.S. VIX equity volatility is off earlier highs
Subscribe for More Information
12:40 EDTOil Action: NYMEX crude is attempting to make a recovery
Oil Action: NYMEX crude is attempting to make a recovery, trading back up to $56.69 after posting trend lows of $55.84. Stop loss selling under $56 was reportedly met with strong fund buying, presumably short covering in nature.
12:20 EDTU.S. equities have skidded lower
Subscribe for More Information
12:10 EDTFX Action: USD-CAD rallied to 1.1640
FX Action: USD-CAD rallied to 1.1640, matching the June 2009 highs before pulling back marginally. WTI oil has plunged to new trend lows of $55.84 lows, with the break of $56 now opening the door for a test of $55.00. USD CAD stops are seen at 1.1650 now.
11:45 EDTOil Action: NYMEX crude is on N.Y. session lows
Subscribe for More Information
11:45 EDTTreasury $50 B 3- and 6-month bill auction was soft
Treasury $50 B 3- and 6-month bill auction was soft. The $24 B 3-month bill was awarded at 0.035%, right on the screws, but a little cheaper than last week's 0.025%. There were $95.1 B in bids for a 3.98 cover, below the prior 4.51as well as the 4.57 average. Indirect bidders took 11.3%, below the prior 31.0%. The $26 B 6-month bill stopped at 0.11%, also right on the bid at the auction deadline. Bids totaled $98.6 B for a 3.81 cover, also below last week's 4.20 and compares to the 4.18 average. Indirect bidders accepted 37.0% versus the prior 39.1%.
11:35 EDTTreasury Option Action: bullish call positioning
Subscribe for More Information
11:31 EDTiPath S&P GSCI Crude Oil Total Return volatility increases, WTI crude below $57
Subscribe for More Information
11:30 EDTTreasury Action: curve flattening resumed
Subscribe for More Information
11:20 EDTTreasury announced a $40 B 4-week bill auction for Tuesday
Subscribe for More Information
11:10 EDTEuro$ interest rate options: a package trade
Subscribe for More Information
11:06 EDT4-Week Bill Announcement Offering Amount data reported
Subscribe for More Information
10:55 EDTFX Action: USD-JPY is following Wall Street's lead
FX Action: USD-JPY is following Wall Street's lead, falling to session lows of 118.20, as Wall Street gives back all its opening gains. WTI oil has turned under $57, as yields stabilize near lows. U.S. backed fund bids are seen into 118.00 now, though acceleration of risk-off conditions could see the figure threatened quickly.
10:35 EDTToday's U.S. reports
Subscribe for More Information
10:22 EDTCapital Link to hold a webinar
Subscribe for More Information
10:20 EDTTreasury Action: yields retreated further
Treasury Action: yields retreated further after the NAHB missed as well, with the earlier Empire shortfall also providing some counter-balance to the jump in industrial production. The T-note yield earlier stalled over 2.135% and dipped as low as 2.11% before finding some equillibrium near 2.12%. The 2s-10s spread has continued to narrow to +153 bp, tightening about 2 bp as the approaching FOMC meeting is keeping the front-end elevated, while the long-end is capped by declining global yields. The 5s-30s spread has narrowed to +118 bp.
10:15 EDTFX Action: USD-CAD touched 1.1604 highs
Subscribe for More Information
10:10 EDTU.S. NAHB homebuilder sentiment index fell back to 57 in December
Subscribe for More Information
10:09 EDTHousing Market Index data reported
December Housing Market Index at 57 vs. consensus of 59
09:55 EDTU.S. NAHB housing market index preview:
Subscribe for More Information
09:55 EDTThe 1.3% November U.S. industrial production pop beat estimates
The 1.3% November U.S. industrial production pop beat estimates, after upward revisions that left a 0.1% (was -0.1%) October figure, an even bigger 0.9% (was 0.8%) utility-led September rise, and a smaller 0.1% (was 0.2%) August drop. The upside November surprise reflected a bigger than expected 5.1% weather-led utility surge, alongside a big 1.1% increase in manufacturing, a vehicle-assembly rate bounce to a 12.0 M rate from a depressed 11.1 M October pace, and a 1.2% surge in business equipment output. Mining surprised to the downside however, with a 0.1% November drop that extended a 1.0% (was 0.9%) November decline to suggest a rapid hit from falling oil prices. Industrial production is poised for a solid 6% utility-boosted rate in Q4 despite today's weak Empire State data thanks to atypical cold winter weather, after rates of 4.0% (was 3.3%) in Q3, 5.7% in Q2, and 3.9% in Q1. Analysts've seen a factory outperformance of GDP through this expansion, and particularly in recent quarters, though this may change if oil prices end up having an outsized impact on the factory sector.
09:45 EDTTreasury Option Action: bullish call buying
Subscribe for More Information
09:44 EDTDow bounces back, opens with triple digit gain
Stock futures were higher during the pre-market trading session as oil prices saw a rebound to begin the week. The futures remained higher despite disappointing data from the Empire manufacturing report, leading to a higher open for the broader market. The price of oil weakened just before the market open, so it remains to be seen if the market can hold its early gains. However, in early trading, the Dow is up 123 points, the Nasdaq is up 35 points and the S&P is up 16 points.
09:32 EDTiPath S&P 500 VIX Short-Term Futures is recently down 2.17 to 31.74
Subscribe for More Information
09:30 EDTU.S. industrial production jumped 1.3% in November
Subscribe for More Information
09:30 EDTTreasury Action: yields rebounded from lows
Treasury Action: yields rebounded from lows on the jump in industrial production, which gave the T-note yield a leg back up over 2.12% from 2.1080% NY lows earlier. The 2s-10s spread is trading just inside +154 bp from +155 bp earlier. Stocks have recouped some pre-open gain once more and the dollar has bounced.
09:25 EDTFX Action: The dollar perked up a few points
FX Action: The dollar perked up a few points following the much better industrial production outcome, pushing EUR-USD under 1.2430, and USD-JPY toward 118.80. Equity futures moved to their best levels of the day, as yields bounced a touch.
09:18 EDTDecember Empire State Mfg Survey to be released at 08:30
Subscribe for More Information
09:10 EDTThe Empire State plunge to a -3.6 two-year low
Subscribe for More Information
09:05 EDTU.S. industrial production preview:
Subscribe for More Information
09:00 EDTU.S. equities managed to rebound
Subscribe for More Information
08:45 EDTTreasury Action: yields eased from highs
Subscribe for More Information
08:45 EDTFX Action: The dollar slipped slightly
Subscribe for More Information
08:40 EDTU.S. Empire State manufacturing index collapsed to -3.6 in December
Subscribe for More Information
08:35 EDTFutures remain higher following New York economic data
Subscribe for More Information
08:32 EDTEmpire State Mfg Survey General Business Conditions Index data reported
Subscribe for More Information
08:32 EDT Richmond Federal Reserve Bank President Jeffrey Lacker Speech to be released at 12:30
08:32 EDT Chicago Federal Reserve Bank President Charles Evans Speech to be released at 10:00
Subscribe for More Information
08:15 EDTU.S. Empire State index preview:
Subscribe for More Information
08:05 EDTOil Action: NYMEX crude recovered to $58.69 highs
Subscribe for More Information
08:00 EDTTreaury Market Outlook: Treasuries are weaker
Treaury Market Outlook: Treasuries are weaker, in tandem with losses in European bonds as equities rally. The 10-year yield is up over 4 bps to 2.126%, erasing about half of Friday's rally. While Asian stocks sunk under the weight of the declines on Wall Street last week, gains in European bourses and a pick up in crude prices have underpinned a recovery in U.S. stocks. Meanwhile, the focus is shifting to the FOMC meeting (Tuesday, Wednesday), where "considerable time" could be removed from the policy statement, which is a worry for bond holders. Sources report a large block seller of 10-year futures overnight. Along with the FOMC, it's a busy week for data with key reports on inflation, production, and housing. Today's agenda includes November industrial production, the Empire State manufacturing index, the December NAHB homebuilder confidence index and October Treasury capital flows.
07:50 EDTN.Y. FX Outlook
Subscribe for More Information
07:41 EDTWashington Association of Money Managers to hold a discussion
Subscribe for More Information
07:36 EDTEconomics Club of Washington, D.C. to hold a dinner meeting
Subscribe for More Information
07:35 EDTThe Brookings Institution to hold a discussion on the federal budget
Subscribe for More Information
07:25 EDTMarket poised to begin week in positive territory
Subscribe for More Information
07:00 EDTFX Update: The dollar recovered
Subscribe for More Information
06:30 EDTUK CBI industrial trends came in slightly above forecasts
Subscribe for More Information
05:53 EDTOn The Fly: Morning Wrap-Up for December 15
Subscribe for More Information
05:46 EDTDecember front month equity options last day to trade is December 19, 2014
Subscribe for More Information
04:50 EDTFX Action: USD-JPY has recovered the 118.50 handle
FX Action: USD-JPY has recovered the 118.50 handle amid a broader dollar recovering during the London AM session after it had come under pressure in Asia. The yen has been choppy, initially declining in the early Tokyo session as the market reacted to PM Abe's landslide victory at the weekend's election, which gives a fresh mandate to yen-negative 'Abenomics' policies, before firming in on-the-fact manner as the outcome had been widely anticipated.. Analysts see that the overall bias for USD-JPY will remain to the upside, anticipating further gains above 120.0.
03:05 EDTFX Update: The dollar traded softer
Subscribe for More Information
December 14, 2014
18:08 EDTWeek of 12/15 Money Supply to be released at 16:30
Subscribe for More Information
18:08 EDTWeek of 12/24 Fed Balance Sheet to be released at 16:30
12:46 EDTSenate passes $1.1T spending bill, Bloomberg says
Subscribe for More Information
December 12, 2014
20:15 EDTKansas City Fed Manufacturing Index Level to be reported at 11:00
Subscribe for More Information
20:15 EDTPhiladelphia Fed Survey General Business Conditions Index to be reported at 10:00
Subscribe for More Information
20:15 EDTPMI Services Flash Level to be reported at 09:45
Subscribe for More Information
20:15 EDTLeading Indicators to be reported at 10:00
November Leading Indicators will be reported at 10:00 . Current consensus is 0.6% for the month
20:15 EDTFOMC Meeting Announcement Federal Funds Rate to be reported at 14:00
Subscribe for More Information
20:15 EDTCurrent Account to be reported at 08:30
Current Account will be reported at 08:30 . Current consensus is $[96.3]B
20:15 EDTConsumer Price Index CPI less food & energy- to be reported at 08:30
Subscribe for More Information
20:15 EDTConsumer Price Index CPI to be reported at 08:30
Subscribe for More Information
20:15 EDTPMI Manufacturing Index Flash Level to be reported at 09:45
December PMI Manufacturing Index Flash Level will be reported at 09:45 . Current consensus is 55.5
20:15 EDTHousing Starts Permits to be reported at 08:30
Subscribe for More Information
20:15 EDTHousing Starts to be reported at 08:30
Subscribe for More Information
20:15 EDTIndustrial Production Capacity Utilization Rate to be reported at 09:15
Subscribe for More Information
20:15 EDTHousing Market Index to be reported at 10:00
December Housing Market Index will be reported at 10:00 . Current consensus is 59
20:15 EDTEmpire State Mfg Survey General Business Conditions Index to be reported at 08:30
Subscribe for More Information
16:14 EDTFitch downgrades France rating to 'AA' from 'AA+'; Outlook Stable
Subscribe for More Information
15:00 EDTTreasury Closing Summary:
Subscribe for More Information
13:42 EDTOil weakness spills into other markets
Subscribe for More Information
13:02 EDTCBOE Crude Oil Volatility Index +12.6% to 50.82
Subscribe for More Information
13:00 EDTTreasury Option Action: quite a mix of activity
Subscribe for More Information
12:00 EDTFed may become dovish as oil prices plunge
Fed may become dovish as oil prices plunge claimed Janus bond guru Bill Gross in a Bloomberg report, saying the Fed will have to take lower oil prices into consideration and, "I think that yes, it moves towards a dovish stance relative to what the market expected a few days ago." Gross cited the Fed moving away from its 2% inflation target as a result, leaving it less likely to move away from its "considerable time" reference with any urgency. He also said that this has impacted levered money, which is causing some violent price movements, noting that there is "very little liquidity" in the corporate bond markets.
11:50 EDTOil Action: NYMEX crude fell to $57.94 lows
Oil Action: NYMEX crude fell to $57.94 lows, before recovering the $58 handle. Today's move marks a 21% decline from $73.54 highs seen just prior to the November 27 OPEC meeting, where the "cartel" decided to let the market determine oil prices. Sources are loath to pick a bottom, though say a move over $59 will be needed quickly to take the pressure off. A N.Y. close under $58 is liable to open the flood gates again, with the next major target being May, 2009 lows of $50.66.
11:40 EDTU.S. equities resumed their slide
U.S. equities resumed their slide and the VIX equity volatility guage is at session highs over 20.50 again, which seems to have its nexis in fresh declines on crude oil as the WTI slips below $58 bbl for a 2.9% decline on the day. The Euro Stoxx 50 is 2.2% lower, while Greek stocks are lagging at -0.4% on Athens. At least air traffic control over London has been resumed after a server glitch halted flights at Heathrow. Within the Dow the deepest decline has been by IBM as Big Blue sinks 2.4%, followed by Caterpillar -2.1% and Chevron -1.9%. Still up on the day are NIKE +0.4% and Wal-Mart +0.3% after brighter consumer sentiment. Treasury yields are back at lows.
11:35 EDTFX Action: Dollar gains post-Michigan sentiment have more than evaporated
Subscribe for More Information
11:30 EDTMinneapolis Fed uber-dove Kocherlakota will not seek another term
Subscribe for More Information
11:05 EDTU.S. VIX equity volatility cleared 20.0
Subscribe for More Information
10:40 EDTEuro$ interest rate options update: a curve trade
Subscribe for More Information
10:25 EDTCredit Suisse macroeconomics analysts hold analyst/industry conference call
Subscribe for More Information
10:20 EDTThe December Michigan sentiment pop to a 93.8 cycle-high
Subscribe for More Information
10:15 EDTFX Action: the dollar snapped to attention
Subscribe for More Information
10:10 EDTTreasury Action: yields backed up from lows
Subscribe for More Information
10:05 EDTU.S. Consumer Sentiment surged to a preliminary 93.8 in December
U.S. Consumer Sentiment surged to a preliminary 93.8 in December, much better than expected (median 89.5) from a final 88.8 in November, as reported by the University of Michigan.
09:58 EDTOil prices slump again, weigh on equities
Subscribe for More Information
09:50 EDTU. Michigan consumer sentiment preview:
Subscribe for More Information
09:44 EDTGuggenheim analysts hold an analyst/industry conference call
Subscribe for More Information
09:40 EDTBarclays healthcare analysts to hold an analyst/industry conference call
Subscribe for More Information
09:38 EDTCredit Suisse energy/oil analysts hold an analyst/industry conference call
Energy -Oil Analysts discuss the end of expensive oil and the implications across the investment universe on an Analyst/Industry conference call to be held on December 12 at 10 am.
09:27 EDTUBS software analyst to hold an analyst/industry conference call
Subscribe for More Information
09:19 EDTUBS software analyst to hold an analyst/industry conference call
Subscribe for More Information
09:15 EDTEuro$ interest rate options: a large block trade
Subscribe for More Information
09:15 EDTOil Action: NYMEX crude has taken out its initial downside target
Subscribe for More Information
09:00 EDTU.S. equities got sucked lower
U.S. equities got sucked lower following another weaker round of data in Europe and China again, along with rising Greek concerns and a sagging oil price. NYMEX crude fell under $59 bbl after the IEA cut global demand forecasts, keeping the deflation macro trade in play. Of course, this was followed by a 0.2% headline drop in November PPI, along side a flat core reading that won't keep the Fed awake at night. The Dow is 86-points lower, S&P fell 8-points and NASDAQ is down 20-points, above earlier lows with some relief on the inflation front. The Euro Stoxx 50 is 1.4% lower following weaker Eurozone industrial output and employment, though Athens is slightly higher, while the Shanghai Comp actually rose 0.42% after weaker industrial production. In company news, Adobe Systems surged 7% after plans to buy Fotolia, though that can't hold a torch to the 105% gain on ChemoCentryx after a positive drug trial. Up next is U. Michigan preliminary sentiment.
08:55 EDTThe 0.2% U.S. November PPI drop with a flat core price figure sat just below estimates
Subscribe for More Information
08:45 EDTTreasury Action: yields continued to skid lower
Treasury Action: yields continued to skid lower with the perfect storm of weaker European and Chinese data, along with a drop in PPI that suggests the Fed shouldn't be in a rush to alter policy. The 10-year yield sank from the 2.17% area in Asia to probe 2.11% in early NY trade, while the 2-year yield swung from 0.60% to test 0.565% and the bond yield probed under 2.78% to eye 2.673% October 17 lows. The 2s-10s spread continued to flatten to +155 bp, while 5s-30s traded to +122 bp.
08:40 EDTU.S. overall-PPI fell 0.2% in November
Subscribe for More Information
08:40 EDTFX Action: The dollar showed little reaction
FX Action: The dollar showed little reaction to the PPI data, where the headline was a tenth cooler than expectations. EUR-USD wiggled between 1.2443-55, as USD-JPY edged up to 228.45 from 118.30. Equity futures and Treasury yields remain in the tank, and it appears analysts are in for another risk-off session, with oil prices back under $59.00 in early trade.
08:37 EDTJPMorgan energy analysts hold an analyst/industry conference call
Subscribe for More Information
08:36 EDTFutures under pressure as oil prices tumble
Subscribe for More Information
08:20 EDTFX Action: USD-CAD rallied to five-year highs of 1.1591
Subscribe for More Information
08:20 EDTU.S. PPI preview:
U.S. PPI preview: November overall-PPI is expected to fall 0.1% (median -0.1%) vs 0.2% in October, with an unchanged core index figure (median 0.1%) vs 0.4%. Forecast risk is downward, however, as analysts expect collapsing oil prices to weigh on the release as WTI prices declined 10.3% over the period. preview.
08:00 EDTOil Action: NYMEX crude slid to new five-year lows
Subscribe for More Information
07:50 EDTTreasury Market Outlook: The flight to quality has driven yields to fresh lows
Subscribe for More Information
07:35 EDTN.Y. FX Outlook
Subscribe for More Information
07:19 EDTOil prices push equities lower
Stock futures are sharply lower as oil prices have now fallen below $59 a barrel. The debate continues as to whether oil prices are tumbling due to lower demand or oversupply. The latter situation would be more positive for the economy. Investors will be watching oil prices, but they will also examine a report on producer prices and the University of Michigan's consumer confidence report.
07:18 EDTWedbush to hold a tour
Subscribe for More Information
07:15 EDTFX Update: The dollar traded lower
Subscribe for More Information
07:09 EDTProShares Ultra DJ-UBS Crude Oil volatility at upper end of five-year range
Subscribe for More Information
07:03 EDTiPath S&P GSCI Crude Oil Total Return volatility elevated on lower energy prices
iPath S&P GSCI Crude Oil Total Return overall option implied volatility of 41 compares to its 26-week average of 25.
06:49 EDTSPDR S&P Oil and Gas Exploration and Production ETF volatility up on $60 oil
SPDR S&P Oil and Gas Exploration and Production ETF overall option implied volatility of 44 compares to its 26-week average of 28 according to Track Data, suggesting large price movement.
06:37 EDTChinese factory output missed expectations in November, Reuters says
Subscribe for More Information
06:32 EDTEuro zone industrial production rose slightly in October, Reuters says
The euro zone's industrial production rose 0.1% month-over-month in October and 0.7% versus the same period a year earlier, the EU reported, according to Reuters. Economists expected the increase to come in at 0.2% month-over-month, the news service stated. Energy output tumbled 2.5% year-over-year, but production of non-durable consumer goods registered a 1.8% monthly increase, the news service quoted the EU as saying. Reference Link
06:20 EDTOn The Fly: Morning Wrap-Up for December 12
Subscribe for More Information
05:46 EDTDecember front month equity options last day to trade is December 19, 2014
04:40 EDTFX Action: The dollar has taken a wobble
Subscribe for More Information
02:50 EDTFX Update: Relatively narrow ranges have prevailed
Subscribe for More Information
December 11, 2014
15:20 EDTTreasury Closing Summary:
Subscribe for More Information
14:25 EDTOil Action: NYMEX crude has traded under $60.00
Subscribe for More Information
14:12 EDTWallachBeth Capital healthcare analyst holds an analyst/industry conference call
Subscribe for More Information
13:45 EDTEuro$ interest rate options: more selling is kicking in
Subscribe for More Information
13:15 EDTTreasury Action: long yields took a dive
Treasury Action: long yields took a dive on the very respectable 30-year reopening, which just validated the curve flattening trend, even after the modest concession build in this morning. The 30-year cash yield had backed up from 2.80% lows to highs of 2.875% before slumping under 2.85% again, compared to the 2.848% award rate on the reopened bonds. The 5s-30s spread has narrowed to +122 bp as a result, another 3 bp tighter on the session.
13:10 EDTTreasury's $13 B 30-year reopening was strong
Subscribe for More Information
12:50 EDTTreasury $13 B bond reopening preview:
Subscribe for More Information
12:40 EDTU.S. household net worth sank to $81.35 tln in Q3
U.S. household net worth sank to $81.35 tln in Q3 from $81.49 tln in Q2 in the first decline since Q3 of 2011, according to the Fed's flow of funds report, while household debt rose at a 2.7% annual rate in Q3. This was following a hit to stock portfolios and rising debts that quarter to fund housing and vehicle purchases and the like. Non-financial firms had $1.80 tln in liquid assets in Q3, compared to $1.82 tln in Q2. Stocks netted out with slightly positive returns in Q3 before ramping higher in Q4 following their October-15 "global margin call" low.
12:15 EDTEuro$ interest rate options update: a large package
Subscribe for More Information
11:45 EDTTreasury $13 B 30-year auction outlook:
Subscribe for More Information
11:10 EDTTreasury announced a $16 B 5-year TIPS reopening for next Thursday
Subscribe for More Information
11:09 EDT5-Yr TIPS Announcement CUSIP Number data reported
Subscribe for More Information
11:09 EDT5-Yr TIPS Announcement Offering Amount data reported
5-Yr TIPS Announcement Offering Amount at $16.0 B
11:09 EDT6-Month Bill Announcement CUSIP Number data reported
Subscribe for More Information
11:09 EDT6-Month Bill Announcement Offering Amount data reported
Subscribe for More Information
11:09 EDT3-Month Bill Announcement CUSIP Number data reported
3-Month Bill Announcement CUSIP Number at 912796EZ8
11:09 EDT3-Month Bill Announcement Offering Amount data reported
Subscribe for More Information
11:05 EDTToday's U.S. reports
Subscribe for More Information
11:00 EDTTreasury Action: curve flatteners took a little breather
Subscribe for More Information
10:45 EDTU.S. VIX has retreated 12.7% to 16.17
Subscribe for More Information
10:30 EDTEIA natural gas storage change for week ending December 5
Subscribe for More Information
10:20 EDTThe 0.2% October U.S. business inventory rise slightly undershot estimates
The 0.2% October U.S. business inventory rise slightly undershot estimates, after an unrevised 0.3% September rise, and analysts still expect a Q3 GDP growth boost to 4.2% from 3.9%. The small price-restrained October inventory rise reflected a lean 0.2% retail increase alongside already-reported gains of 0.1% for factories and 0.4% for wholesalers. The boost analysts expect in Q3 GDP growth reflects no revision in retail inventories, alongside already expected upward revisions of $3 B for wholesale inventories, $6 B for construction, $4 B for consumption, and $1 B for equipment, but a $4 B downward revision for net exports. Analysts expect 3.0% GDP growth in Q4 that incorporates an $8 B inventory boost with a lofty $90 B accumulation rate, following a $2.7 (was $5.7) Q3 inventory subtraction. Note that the 1.30 inventory-to-sales (I/S) ratio over the last three months sits at the high end of the 1.27-1.30 range evident since April of 2012, aside from a similar temporary January pop to 1.31, and GDP growth should be restrained by unwinding inventory accumulation into 2015.
10:15 EDTFCC to hold an open commission meeting
Subscribe for More Information
10:10 EDTU.S. business inventories rose 0.2% in October with sales down 0.1%
Subscribe for More Information
10:10 EDTTreasury Action: yield have backed up
Treasury Action: yield have backed up from lows as stocks gathered a head of steam following earlier retail sales gains, while the 0.2% rise in business inventories was just a footnote. The 10-year yield snapped back from 2.14% lows earlier and extended gains through 2.19%. The curve has steepened as a result with the 2s-10s spread out from +157 bp morning narrows to +158.4 bp, while the 5s-30s spread narrowed from +126.5 bp to +125 bp. Focus shifts now to the $13 B 30-year bond reopening.
10:10 EDTFX Action: The dollar revealed little reaction
Subscribe for More Information
10:03 EDTBusiness Inventories data reported
October Business Inventories up 0.2% vs. consensus of 0.3% for the month
09:53 EDTStocks bounce back after sell-off despite continued oil weakness
Subscribe for More Information
09:50 EDTEuro$ interest rate options: mostly bearish positioning
Subscribe for More Information
09:49 EDTBloomberg Consumer Comfort Index Level data reported
Subscribe for More Information
09:45 EDTFed Policy Outlook: the FOMC will have a big decision to make next week
Subscribe for More Information
09:45 EDTThe U.S. trade price report revealed outsized export price declines
Subscribe for More Information
09:40 EDTU.S. business inventories preview:
Subscribe for More Information
09:30 EDTThe 3k U.S. initial claims drop to 294k
Subscribe for More Information
09:25 EDTThe U.S. retail sales report sharply outpaced assumptions
The U.S. retail sales report sharply outpaced assumptions, given a sturdy 0.7% November headline gain with a 0.5% ex-auto increase that followed upward revisions for September and October, with upward November surprises and prior boosts for most of the major sales components that have lifted our GDP estimates for Q3 and Q4. For retail sales excluding autos, gasoline, and building materials, which guide the real consumption component of GDP, analysts saw a solid 0.6% November rise that marks the tenth consecutive month of 0.3%-1.1% gains, following a 0.7% (was 0.6%) October increase and a 0.3% (was 0.2%) September rise. Analysts now expect a Q3 GDP growth boost to 4.2% from 3.9% with an assumed $1 B boost for goods consumption alongside already expected upward revisions of $3 B for service consumption, $6 B for construction, $1 B for equipment, and $3 B for wholesale inventories, and a $4 B downward revision for trade. Analysts raised our Q4 GDP growth estimate to 3.0% (was 2.5%) with a 4.0% (was 3.6%) Q4 clip for real consumption after a revised 2.4% (was 2.2%) Q3 rate. The business inventory report later this morning will reveal a 0.1% October sales drop, after a flat September figure. Today's data imply a flat business sales figure in next month's November report.
09:05 EDTFX Action: USD-CAD touched fresh trend highs of 1.1522
Subscribe for More Information
09:05 EDTTreasury Option Action: a bearish package
Treasury Option Action: a bearish package involved a sale of 4k in February 128 calls vs a purchase of 123/124.5/126 put butterflies on 10-year futures, with a 13 credit to the call side. March 10s are 2.5-ticks firmer near 127-055 compared to a session range of 127-12 to 126-31.
08:55 EDTU.S. equities have rebounded as crude oil prices have stabilized
Subscribe for More Information
08:55 EDTOil Action: NYMEX crude is in the tank
Subscribe for More Information
08:50 EDTFX Action: The dollar edged higher
FX Action: The dollar edged higher after the mix of data, where import prices fell in line with expectations, retail sales beat the Street, and jobless claims were slightly lower than expected. EUR-USD dipped to 1.2420 from 1.2440, as USD-JPY moved up to 118.70 from 118.45. Yields moved up some, as equity futures padded their earlier gains on the better sales data.
08:45 EDTU.S. retail sales rose 0.7% in November with the ex-auto component up 0.5%
Subscribe for More Information
08:45 EDTTreasury Action: yields rebounded from lows
Subscribe for More Information
08:45 EDTU.S. import prices declined 1.5% in November, while export prices dropped 1.0%
Subscribe for More Information
08:42 EDTJobless Claims data reported
Week of 12/6 Jobless Claims at 294K vs. consensus of 295K
08:40 EDTU.S. initial jobless claims dipped 3k to 294k in the week ended December 6
Subscribe for More Information
08:37 EDTFutures continue to suggest higher open following economic data
Subscribe for More Information
08:20 EDTU.S. initial jobless claims preview:
U.S. initial jobless claims preview: initial jobless claims are expected to drop 2k to 295k (median 295k) in the week-ended December 6. Continuing claims are expected to fall 27k to 2,335k for the week-ended November 29. Forecast risk is downward, as claims face some risk of holiday induced gyrations. preview.
08:15 EDTCanada Capacity Utilization Preview
Canada Capacity Utilization Preview: Analysts expect the capacity use rate to rise to 83.0% in Q3 from 82.7% in Q2. The anticipated improvement in the rate of capacity use tracks the solid momentum in Canada's GDP in Q2 (+3.6%) and Q3 (+2.8%). The BoC's measure of the output gap (released separately) was -0.5 in Q3 from -0.6 in Q2 (was -0.7). The report will confirm the improvement in the traditional measures of capacity. But not to worry the BoC says, as labour market indicators remain consistent with ample slack.
08:15 EDTU.S. retail sales preview:
Subscribe for More Information
08:15 EDTU.S. trade prices preview:
Subscribe for More Information
08:13 EDTBloomberg Government to hold a webinar
Subscribe for More Information
08:05 EDTN.Y. FX Outlook
Subscribe for More Information
07:58 EDTThe FDA to hold a public workshop
Subscribe for More Information
07:51 EDTJMP Securities to hold a tour
Subscribe for More Information
07:50 EDTTreasury Market Outlook: yields extended lower
Subscribe for More Information
07:35 EDTBloomberg Link to hold a summit
Bloomberg Enterprise Technology Summit is being held in London, England on December 11.
07:21 EDTFutures steady in early trading
Subscribe for More Information
07:21 EDTJefferies to hold a summit
Subscribe for More Information
07:20 EDTBofA/Merrill to hold a conference
2014 Chicago Healthcare 1:1 Conference is being held in Chicago on December 11.
07:18 EDTBofA/Merrill to hold a summit
Subscribe for More Information
07:00 EDTFX Update: The dollar rebounded
FX Update: The dollar rebounded after extending to fresh correction lows. Data misses in Japan and the U.K. helped support USD-JPY and weigh on GBP-USD. A plethora of central bank announcements brought mixed market responses. The NOK dove a 5-year low on an unexpected Norges Bank rate cut, while NZD-USD surged after the RBNZ lifted growth forecasts after leaving policy unchanged. EUR-CHF, meanwhile, fell to 1.2015-17 from levels above 1.2030 in the wake of the SNB announcement of unchanged policy. SNB's Jordan said upward pressure on the franc has "intensified," and that the cap will be enforced with "utmost determination." EUR-USD saw choppy trade centred on 1.2450 after leaving a 10-day high of 1.2495 in Asia. The ECB allotted EUR 129.85 B in the second TLTRO, below the Bloomberg median, fuelling speculation that the central bank will be forced to full-blown QE. USD-JPY logged a two-week low at 117.43 in Tokyo before recovering to a peak of 118.88. The move was aided by Japanese Oct machinery orders which dove 6.4% m/m, contrary to hopes for modest improvement. Cable saw a 2-week high at 1.5757 in Asia before dropping over 100 pips, making a low at 1.5652. The U.K. Nov RICS house price balance fell to +13%, below the median for 15%.
05:49 EDTOn The Fly: Morning Wrap-Up for December 11
Subscribe for More Information
05:45 EDTDecember front month equity options last day to trade is December 19, 2014
Subscribe for More Information
02:35 EDTFX Update: The dollar posted fresh correction lows
Subscribe for More Information
02:03 EDTWeek of 12/19 EIA Natural Gas Report to be released at 12:00
Subscribe for More Information
<< 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 | all recent NOSYMBOL news | >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use