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News For NOSYMBOL From The Last 14 Days Check below for free stories on NOSYMBOL the last two weeks. |
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| May 22, 2013 |
| 07:50 EDT |  | | Fedspeak reaches a potentially important intersection
Fedspeak reaches a potentially important intersection with today's Bernanke testimony before the JEC of Congress at 10 ET, followed by a presentation by Dallas Fed hawk on "Federal Reserve Operations and an Update on Texas and U.S. Economy" at 13 ET, along with the FOMC minutes of the Apr 30-May 1 meeting at 14 ET. Keep track of all the developments on our Fedspeak page. |
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| 07:41 EDT |  | | BofA/Merrill to host a conference
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| 07:40 EDT | | | U.S. MBA mortgage market index sank 9.8%
U.S. MBA mortgage market index sank 9.8% in data released earlier, in addition to a 3.0% decline in the purchase index and an 11.7% plunge in the refinance index for the week ended May-17. The 11-basis point jump in the 30-year fixed mortgage rate to 2-month highs of 3.78% clearly had a major impact on refi activity, spilling over to the market index more broadly, while mortgages for home purchases also declined. The MBA noted that this was the largest single drop by the refi index of the year. Last week's economic data had continued its downtrend for the bulk of the week until Friday's consumer sentiment and leading indicators surprised on the upside, while the bond market had started to buy into the Fed tapering view via rumors, the hawks and the press just ahead of today's FOMC minutes and Bernanke JEC testimony. For more details on the housing recovery, see our existing home sales, housing starts and new home sales reports. |
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| 07:30 EDT | | | Treasury Market Outlook: Treasuries dipped modestly lower in Asian trading
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| 07:29 EDT |  | | Fed's Dudley: FOMC hasn't yet agreed on tapering strategy, Bloomberg says
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| 07:21 EDT | | | Futures near fair value
Stock futures are once again near fair value ahead of today's trading. Investors will be watching the existing home sales report due out at 10:00 am ET, as well as the Department of Energy's weekly inventory data. In the afternoon investors will examine the minutes of last month’s FOMC meeting and look for indications of any changes in Fed policy. |
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| 07:20 EDT | | | N.Y. FX Outlook
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| 07:16 EDT | | | Senate panel approves immigration reform bill with amendment, NY Times says
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| 07:09 EDT | | | Dollar idles before Bernanke testimony, Reuters reports
The dollar languished well below last week's 4 1/2-year high against the yen today, ahead of testimony from Fed Chairman Bernanke after two regional Fed presidents hinted that the central bank will continue its bond-buying scheme, reports Reuters.Reference Link |
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| 07:08 EDT | | | Issuance of single-borrower deals is growing, WSJ reports
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| 07:01 EDT | | | MBA Purchase Applications Refinance Index data reported
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| 07:01 EDT | | | MBA Purchase Applications Index data reported
Week of 5/17 MBA Purchase Applications Index down -3.0% for the week |
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| 07:01 EDT | | | MBA Purchase Applications Composite Index data reported
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| 06:30 EDT | | | Commodities were mostly higher
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| 05:55 EDT |  | | On The Fly: Morning Wrap-Up for May 22
Globex S&P futures are recently up .80 from previous day's SPX cash close. Nikkei 225 up 1.60%, DAX down 0.41%. WTI Crude oil is recently at $95.48, NYMEX Natural Gas up 0.76%, gold at $1383 and ounce copper up 1.06%. |
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| 05:55 EDT | | | FX Action: USD-JPY headed back to 103.00
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| 05:51 EDT | | | CBOE Volatility Index VIX closed at 13.37, 10-day moving average is 12.84
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| 05:49 EDT | | | June front month equity options expire, June 21, 2013
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| May 21, 2013 |
| 16:00 EDT | | | Canadian Retail Sales Preview.
Canadian Retail Sales Preview. Our projection is for a 0.3% rise in March retail sales (median +0.1%) when the data is released on Wednesday. It follows a 0.8% gain in February. The ex-autos sales aggregate is projected to rise 0.2% (median +0.2%). And a 0.3% rise in sales volumes is expected, which would be consistent with a 0.1% gain in March GDP after the 0.3% gain in February GDP. |
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| 15:35 EDT | | | Treasury Closing Summary:
Treasury Closing Summary: A round of surprisingly dovish Fedspeak from hawkish St. Louis Fed's Bullard dissauded some bond bears from their position and boosted equities on Tuesday, coming just a day ahead of Bernanke testimony. Moves weren't overly dramatic, but sufficient to inject a little 2-way risk at yield range highs. Fed's dovish Dudley chimed in too, anticipating the end of QE once labor market gains are sufficiently strong, but both were wary of negative fiscal drags and vigilent over low inflation. |
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