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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 24, 2015
14:05 EDTU.S. equities have curled lower in afternoon trade
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13:31 EDTWedbush healthcare analysts hold an analyst/industry conference call
Analysts, along with the Chief of Surgical Oncology at Texas A&M, hold an Analyst/Industry conference call on March 27 at 11 am.
13:20 EDTTreasury Action: short yields nosed lower
Treasury Action: short yields nosed lower following the solid takedown on the 2-year auction, which exceeded most of its benchmarks with the Fed seen procrastinating on rate lift-off and pulling in solid foreign demand with the 10-year Bund yield way down at 0.236% and the 2-year Bund taking -0.222%. The current 2-year yield eased from 0.577% in advance of the sale to 0.57% in its wake, but has since stabilized, compared to the 0.598% award rate on the new notes. Look for 0.532-0.625% nearby to define the next break for now.
13:10 EDTTreasury's 2-year auction was solid and even better than expected
Treasury's 2-year auction was solid and even better than expected. The note stopped through at 0.598%, after having richened to 0.600% at the bid deadline (and compares to last month's 0.603%). There were nearly $89.9 B in bids for a 3.46 cover, up a bit from February's 3.45 and better than the 3.39 average. Indirect bidders were awarded 45.7% versus lsat mont's 48.2% and the 33.7% average. Direct bidders took a big 18.3% from 13.3%, while primary dealers accepted 36.0% from 38.5% previously.
13:05 EDTU.S. Durable Goods Preview
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12:55 EDTU.S. 2-year technicals: filling the gap,
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12:55 EDTFX Action: USD-JPY was capped at 119.98
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12:40 EDTTreasury 2-year auction preview: the auction should be smooth
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12:25 EDTU.S. corporate bond update: issuance continues apace
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12:05 EDTBund vs T-note spread narrowing has been the rule in March
Bund vs T-note spread narrowing has been the rule in March extending to the -168 bp area today after the 10-year Bund yield based under 0.17% on Friday and rebounded to 0.23% today, while the T-note yield essentially reversed out a month's worth of gains and has settled near 1.90% (from its March peak of 2.259%). This collapse in the spread accelerated following last week's more dovish leaning FOMC statement as the Fed acknowledged the strong dollar and sluggish exports did not leave the U.S. immune from slowing global growth. Back on March 9 analysts reckoned in our "Bund/T-note Elastic Stretched Strategy" that fading spread widening into the -200 bp zone would result in a retreat back to a more "normal" -175/165 bp and U.S. paper still appears to offer some relative value.
11:40 EDTTreasury's $40 B 4-week bill auction was solid
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11:10 EDTTreasury Action: TIPS are outperforming nominal Treasuries
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11:00 EDTBofA/Merrill Greek economist to hold an analyst/industry conference call
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11:00 EDTToday's U.S. reports
Today's U.S. reports mostly beat estimates, with a big 7.8% February new home sales surge to a 539k cycle-high pace despite the big weather-hit to housing starts and lean February existing home sales. New home inventories fell to 210k in the face of the sales climb but hampered building, though the median price fell 4.8% to $275,500 as analysts further unwound the Q4 price spike. February CPI posted a sturdy 0.217% February rise alongside a 0.157% core price gain, as energy prices rebounded 1.0% after a huge 22.3% seven-month decline. FHFA prices eked-out a 0.3% January gain. A big Richmond Fed drop to -8.0 in March bucked other good news on the day, and joined other big Q1 producer sentiment declines to suggest a continued big inventory and mining headwind for factories.
10:50 EDTTreasury 2-year auction outlook:
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10:45 EDTU.S. Richmond Fed business activity index dropped to -8 in March
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10:40 EDTThe 7.8% U.S. new home sales surge to a 539k cycle-high pace
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10:40 EDTU.S. Richmond Fed business activity index dropped to -8 in March
U.S. Richmond Fed business activity index dropped to -8 in March after falling 6 points to unchanged in February, and is down from a recent high of 20 in October (and a record high of 27 from April 2010). But the guts of the report really weren't too bad. Weakness was seen in new orders which plunged to -13 from -2, and in shipments which dove to -13 from -1. But, the employment component rose to 6 from 4, wages were flat at 8, and the workweek improved to -4 from -6. Price trends picked up too, with the annualized change on prices received rising 0.62% from 0.32%, with prices received at 0.10% from 0.09%. The 6-month shipment index rose to 37 from 30, with employment nearly doubling to 23 from 12, and wages climbing to 31 from 23. The 6-month capital expenditures component increased to 32 from 27, while price trends showed prices received climbing to 1.53% versus 0.91%, and prices received at 1.09% from 0.48%.
10:30 EDTTreasury Option Action: bullish positioning
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10:20 EDTFX Action: The dollar retained its gains
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