On The Fly: Morning Wrap-Up for March 1 Globex S&P futures are recently down 6.40 from previous day's SPX cash close. Nikkei 225 up 0.41%, DAX down 0.74%. WTI Crude oil is recently at $91.12, copper down 1.72% and gold is at $1567 an ounce.
News For NOSYMBOL From The Last 14 Days
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Perhaps NY Fed dove Dudley will flip Perhaps NY Fed dove Dudley will flip to the hawkish camp after hawkish Bullard sounded very dovish earlier? Not very likely. But analysts'll get a chance to find out at 13 ET when Dudley addresses a "Lessons at the Zero Bound" discussion by the Japan Society in NY. Analysts believe that however these preliminary Fedspeakers shake out, Bernanke is still in no rush to exit QE prematurely, which could continue to buy the bond market a little reprieve tomorrow. Indeed, the T-note yield just marked session lows under 1.94% even though stocks are back near highs thanks to Bullard earlier.
NY Fed bought $3.31 B in notes NY Fed bought $3.31 B in notes dated from August 2020 through May 2023. The Street offered $13.1 B.The buyback, and resistance important levels, contained the updraft in yields. The 10-year yield has dipped from a 1.996% high to 1.97% currently. The 7-year note has slid to 1.328% from 1.35% earlier.
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