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News For NOSYMBOL From The Last 14 Days Check below for free stories on NOSYMBOL the last two weeks. |
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| June 7, 2013 |
| 09:05 EDT |  | | Fed Policy Outlook: the mix in the May employment data isn't sufficiently strong to argue for QE tapering
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| 09:05 EDT | | | U.S. equities rebounded from negative territory
U.S. equities rebounded from negative territory to post gains ahead of the open after the neutral payrolls report likely kept the Fed in the QE game for at least another meeting or two. Speculation in the press as to whether the 200k level would provide a taper trigger was rendered moot by the 175k gain, though stock bulls had to overcome the bounce in the jobless rate to 7.6%. Prior to the data, equities had been trading in shallow negative territory after losses in Asia and Europe. In Japan, the N-225 was very volatile, though it recovered late to close down just -0.21% after talk of pension fund support to raise equity holdings a percent, while the Aussie ASX 200 sank 1.21% and the Shanghai Comp fell 1.33%. Half of Europe is back in the green, with a slight gain on the Euro Stoxx 50, though the price action is mixed across the Continent. The Dow is 57-points firmer, S&P gained 9-points, and NASDAQ is 12-points higher in pre-market action. Wal-Mart delivered more upbeat news on its forecast that customer confidence will rise in the second half of the year. Soros Fund Management indicated it had liquidated much of its Japan long-equity positions in May before sell-off. The back-up in Treasury yields to highs in response could provide some headwinds for stock investors into the close if it continues, whereas only consumer credit remains later to provide a small economic hurdle into the weekend. |
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| 08:58 EDT |  | | Credit Suisse's economist holds an analyst/industry conference call
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| 08:55 EDT | | | FX Action: USD-JPY traded all over the shop
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| 08:45 EDT | | | Credit Suisse's healthcare analyst research team holds a conference call
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| 08:45 EDT | | | U.S. nonfarm payrolls increased 175k in May
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| 08:45 EDT | | | FX Action: The dollar rebounded following the in-line NFP print
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| 08:45 EDT | | | Treasury Action: yields pulled back from highs
Treasury Action: yields pulled back from highs following the near-median print on payrolls, with back revisions virtually a wash, though the unemployment rate backed up to 7.6%. That gave the markets pause and yields eased even further as the news was digested. The T-note yield had run up to 2.10% prior to the snap, then plunged to 2.05% again in its wake. Whether 200k is any kind of threshold, or not, the Fed hasn't reached it in a sustainable way just yet. Taper-off... |
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| 08:34 EDT | | | Futures rise following jobs data
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| 08:33 EDT | | | Economists hold a press conference on the economy
Chief Economists from the nation's largest banks forecast the future of the U.S. economy, including the sequester on jobs and growth at a press conference to be held on June 7 at 11 am. Webcast Link |
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| 08:33 EDT | | | Employment Situation Private Payrolls data reported
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| 08:33 EDT | | | Employment Situation Av Workweek data reported
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| 08:33 EDT | | | Employment Situation Average Hourly Earnings data reported
May Employment Situation Average Hourly Earnings up 0.0% vs. consensus of 0.2% for the month |
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| 08:33 EDT | | | Employment Situation Unemployment Rate data reported
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| 08:33 EDT | | | Employment Situation Nonfarm Payrolls data reported
May Employment Situation Nonfarm Payrolls at 175,000 vs. consensus of 167,000 for the month |
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| 08:31 EDT | | | U.S. May non-farm payrolls rise 175,000, jobless rate rises to 7.6%
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| 08:30 EDT | | | Treasury Action: yields are backing up into NFPs
Treasury Action: yields are backing up into NFPs as the bond market braces for an outsized number vs the 165k median. Anything much above that level would keep the Fed QE taper in play, while a 150k and below might calm the taper talk somewhat. Some sources are point to an MNI Beckner story that 200k is not the minimum target for a taper, though that's self-evident as the Fed has been looking for consecutive months of sustainable gains to justify any relaxing of QE via the taper. The T-note yield has jumped from the 2.05% area to 2.09%. |
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| 08:25 EDT |  | | ECB's Draghi: Governments must fight recession, boost credit, Bloomberg reports
Almost a year since his promise to do “whatever it takes” to protect the euro soothed investors, and a month since cutting interest rates, European Central Bank President Mario Draghi has signaled that governments, not the ECB, should do more to fight recession and boost credit to businesses in cash-strapped countries such as Spain, reports Bloomberg. Reference Link |
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| 08:15 EDT | | | U.S. Employment Preview
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| 08:00 EDT | | | Fed funds opened at 0.09%
Fed funds opened at 0.09%. The rate ranged from 0.03% to 0.375% yesterday with a 0.10% effective. Interbank borrowing rates were mixed at today's Libor fixing. The overnight dollar Libor rate slipped to 0.13260% from 0.13300%. The 1-week remained steady at 0.15851%. The 3-month rate rose to 0.27515% versus 0.27425%. The 12-month rate was unchanged at 0.68520%. |
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