2010/10/15 17:49=DJ Forex Focus: Time For The Fed To Spell It Out
2010/10/15 17:30=DJ DATA SNAP: Euro-Zone Inflation Picks Up In September
2010/10/15 17:23=DJ DATA SNAP: Euro-Zone Posted Wider Trade Deficit In August
2010/10/15 17:09*DJ 3-Month Euribor Rises To 0.993% Vs 0.987% Thursday
2010/10/15 17:05*DJ Euro-Zone Sep CPI Ex-Tobacco +0.2% On Mo; +1.7% On Yr
2010/10/15 17:02*DJ Italy's Sep Final CPI -0.2% On Mo; +1.6% On Yr
2010/10/15 17:02*DJ Italy Sep Final CPI Was Seen At -0.2% MM; +1.6% YY
2010/10/15 17:02*DJ Euro-Zone Sep Core CPI +0.2% On Mo; +1.0% On Yr
2010/10/15 17:01*DJ Euro-Zone Sep CPI Forecast +0.2% On Mo; +1.8% On Yr
2010/10/15 17:01*DJ Euro-Zone Sep CPI +0.2% On Mo; +1.8% On Yr
2010/10/15 17:00*DJ Euro-Zone Aug Trade Deficit EUR4.3B Vs Deficit EUR2.8B Aug 2009
2010/10/15 17:00*DJ Euro-Zone Aug Trade Balance Was Forecast EUR0.0B
2010/10/15 17:00*DJ Euro-Zone Jul Trade Revised To Surplus EUR6.2B
2010/10/15 17:00*DJ Old Mutual Ends Talks With HSBC
2010/10/15 16:59*DJ HSBC Withdraws Bid For Nedbank
2010/10/15 16:31*DJ ECB Paramo: Exchange Rates Should Reflect Econ Fundamentals
2010/10/15 16:30*DJ ECB Paramo: Exchange Rate Instability Bad For Econ, Fncl Mkts
2010/10/15 16:13DJ PRECIOUS METALS: Gold Steady, Silver Well-Bid In Asia
SINGAPORE -Gold and silver kept their bullish bias in Asia Friday, this time without much help from the dollar, which was holding on to some of its gains made late Thursday. At 0625 GMT, spot gold was at $1,380.40 a troy ounce, down 80 cents since Thursday's New York close but well off its intraday low of $1,376.45. On Tocom, August 2011 gold was at Y3,608 a gram, down Y2. Spot silver was at $24.75/oz, up 12 cents and within reach of its 30-year high of $24.91 hit Thursday. Silver's stunning 39% run since late August, relative to gold's more modest 14% gain, is easy to explain if you look at the relative size of the two markets, said Dominic Schnider, head of commodity research for Asia-Pacific at UBS. He said gold's global annual mine supply of around 2,400 tons was worth $107 billion, while silver's 22,000 tons was worth only $17.4 billion at current prices. 'There's a tidal wave of money wanting exposure, but the market can only absorb so much. The same is happening in palladium, which is even smaller,' he said. He added that he would not enter silver at these levels and expects a correction as, at some point, temptation to book profits would overcome the current bullish fervor. For gold, he tipped a more sideways trading pattern in the coming months, with volume at UBS trading desks falling in recent weeks, a sign the rally is starting to tire, he said. Spot platinum was at $1,707/oz, down $4, and spot palladium was at $601/oz, down $1, but still within reach of its nine-year high of $602.25 hit Thursday. Later, Federal Reserve Chairman Ben Bernanke's speech at a conference in Boston at 1215 GMT will be watched closely for clues on the timing and extent of any further quantitative easing measures, while U.S. September consumer confidence and retail sales data are also due, and could influence precious metals.
2010/10/15 16:04DJ JGBs End Slightly Lower; Falls Limited By Weak Stocks, BOJ Report
TOKYO -Japanese government bond futures ended slightly lower Friday following a decline in U.S. Treasurys, but falls were limited by some late buying on the back of weaker stocks and a Bank of Japan report showing worsening economic prospects for some of Japan's regions. With the yen's stronger tone intact, cautious trading is expected to continue at least until a 20-year JGB auction next Thursday provides further evidence for solid demand in the "super-long" segment, market analysts said. "It looks like investors began to notice that returns on JGB investment are very low, with Asian currencies and stocks rising ," said Mizuho Securities chief market analyst Tetsuya Miura. As of 0600 GMT, the benchmark 10-year JGB yield was flat at 0.875%, while lead December JGB futures ended at 143.84, down 0.08. Superlong-term yields showed mixed moves with the 20-year JGB yield flat at 1.735% and the 30-year yield slipping one basis point to 1.950%. Some buying emerged in mid-afternoon as Tokyo stocks extended their losses and the Bank of Japan said in a nationwide assessment that three out of nine regions have downgraded their views on the local economies, backing the central bank's view that the pace of Japan's economic recovery is slowing. Although the central bank kept its core assessment unchanged, the regional downgrades were the first since April 2009. The BOJ's regional branches cited the uncertain outlook in overseas economies, the end of Japan's new car purchasing incentives and the rise in the yen as factors contributing to the bleaker economic picture. "The unclear outlook for China and other overseas economies will remain," making it difficult to shrug off concerns that exports--Japan's economic recovery lifeline--will level off, said Shuji Tonouchi, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities. The Nikkei Stock Average ended Friday down 0.9% at 9500.25.
2010/10/15 15:55DJ Goldman Sachs Raises 3-Month Gold Forecast 11% To $1,400/Oz
LONDON -U.S. bank Goldman Sachs raised its forecasts for gold and silver prices by double-digit percentages Friday on expectations that further quantitative easing by the U.S. Federal Reserve will keep interest rates low.Goldman increased its three-month forecast for gold by 11% to $1,400 a troy ounce and its 12-month forecast by 21% to $1,650/oz.The bank raised its three-month and 12-month forecasts for silver by similar amounts to $23.40/oz and $27.60/oz respectively."With U.S. real interest rates declining further off, the slowdown in the pace of the U.S. economic recovery and the rising prospect of quantitative easing...we expect gold prices to continue to climb."The bank said demand from speculative investors, exchange-traded fund investors and central banks has the potential to rise, particularly if gold makes new record highs and the Fed starts a second round of Treasury bond buying.
2010/10/15 15:53DJ BOJ Shirakawa: To Keep Supporting Economy Via Monetary Policy
TOKYO -Bank of Japan Gov. Masaaki Shirakawa reiterated Friday that the central bank will continue to 'patiently' provide support to the nation's economy.'In steering monetary policy, will carefully examine economic and price outlooks and take appropriate steps as a central bank,' Shirakawa said at an event held in Tokyo by the Community Bank Shinyo Kumiai, a group of locally operating financial institutions.The central bank unveiled an ambitious easing package last week. It cut its policy target rate to a range of 0.0%.1% from 0.1% previously, and said rates would remain at virtually zero until prices begin to overcome deflationary pressures.The BOJ also launched a Y5 trillion fund to buy various financial assets, including corporate and government debt.
2010/10/15 15:46=DJ WORLD FOREX: Euro Down Vs Dollar, Yen On Weak Regional Stocks-3-
2010/10/15 15:39DJ Tokyo Shares End Lower; Financials' Weakness Offsets Chip Stocks-2-
2010/10/15 15:12*DJ Goldman Sachs Raises 3-Month Gold Forecast 11% To $1,400/Oz
2010/10/15 15:08DJ Tokyo Shares End Lower; Financials' Weakness Offsets Chip Stocks
2010/10/15 15:02*DJ Stoxx Europe 600 Index Up 0.2% After The Open
2010/10/15 15:01*DJ FTSE 100 Up 0.2% After The Open
2010/10/15 15:01*DJ RBI Subbarao: To Intervene In Forex Market If Necessary
2010/10/15 14:57=DJ WORLD FOREX: Euro Down Vs Dollar, Yen On Weak Regional Stocks -2-
2010/10/15 14:57DJ BOJ: Keep View Of Regional Economies In Oct Report
TOKYO -The Bank of Japan on Friday kept its core assessment of the nation's regional economies, but said uncertainties are increasing as momentum has slowed in some regions.'All nine regions judged that their economies had either recovered at a moderate pace or picked up,' the bank's quarterly Regional Economic Report for October showed.But three regions--Kanto, Tokai and Chugoku--cut their views of the local economies to reflect the slowdown in growth momentum. The downgrade was the first since April 2009, the BOJ said.Weakening growth, especially in terms of output, was mostly due to recent economic trends overseas and the end of a powerful stimulus program that had encouraged consumers to buy fuel-efficient cars until early September.The strong yen also negatively influenced the corporate sentiment outlook, and some firms reported that price competition was becoming severe especially against their Korean and German rivals due to recent foreign exchange rate moves.
2010/10/15 14:56DJ Forex Options: Dollar/Yen Options Lower As Dollar Puts Sold
TOKYO -Dollar/yen options declined in Asia Friday as players sold short-term hedges against a fall in the greenback due to the U.S. currency finding some support above Y81.The dollar fell to a fresh 15-year low of Y80.88 overnight, but investor caution over possible yen-selling intervention by the Japanese government pushed the U.S. currency back to around Y81.30 as of 0450 GMT.Benchmark volatilities implied by one-month at-the-money options edged down to 11.75%/12.45% in Tokyo from 11.80%/12.50% Thursday in New York.An options dealer at a major Japanese bank said one player sold a four-day dollar-put/yen-call options contract with a strike price of Y81.00, implied volatility of 10.75%, and a face value of $50 million. Another player sold a one-week dollar-put/yen-call contract with a strike price of Y81.00, implied volatility of 11.75% in an unknown amount.These contracts benefit the holders if the U.S. unit is trading below the strike price at the contracts' expiries.
2010/10/15 14:55=DJ WORLD FOREX: Euro Down Vs Dollar, Yen On Weak Regional Stocks
2010/10/15 14:51*DJ BOJ Shirakawa: To Keep Supporting Econ Via Monetary Policy
2010/10/15 14:47*DJ BOJ Shirakawa: Must Pay Attention To Econ Downside Risks
2010/10/15 14:47*DJ BOJ Shirakawa: Japan Econ Still Shows Signs Of Moderate Recovery
2010/10/15 14:46*DJ BOJ Shirakawa: Pace Of Japan Econ Recovery Slowing Down
2010/10/15 14:24DJ ECB's Stark: Banks Shouldn't Rely On ECB For Liquidity - Report
FRANKFURT -European Central Bank executive board member Juergen Stark Friday warned banks to stop relying on the ECB for liquidity infusions. 'Some banks or banking groups can't rely on the ECB to cover their liquidity needs,' Stark was quoted as saying in an interview with the Handelsblatt newspaper. The ECB will gradually withdraw special measures providing surplus liquidity to help banks through the financial crisis, and now the responsibility lies with the banks, governments and regulators to work out solutions, he said. Stark also echoed remarks by ECB officials this week urging politicians to finalize stricter governance. 'We must use the opportunity for a new stability pact--with more automated procedures and sanctions,' Stark says. Automatic sanctions should also be imposed if countries fail to implement recommendations resulting from macroeconomic surveillance. Stark also said the ECB will hold on to its controversial sovereign bond purchases 'as long as we consider necessary,' reiterating that the ECB will monitor the situation on the market very closely. Newspaper website: http://www.handelsblatt.com
2010/10/15 14:06*DJ BOJ: Downgrades First Since Apr 2009
2010/10/15 14:06*DJ BOJ: 3 Out 9 Regions Cut View On Econ From Oct Vs July
2010/10/15 14:01*DJ Nikkei Stock Average Closes Down 0.9% At 9500.25
2010/10/15 13:38*DJ BOJ: Keep View Of Regional Economies In Oct Report
2010/10/15 13:35*DJ BOJ: Uncertainties Increasing For Econ Outlook
2010/10/15 13:34*DJ BOJ: Strong Yen, US Econ Slowdown Weighing On Business Sentiment
2010/10/15 12:31*DJ Japan Aug Factory Operating Ratio -0.7% M/M From Jul
2010/10/15 12:31*DJ Japan Aug Revised Inventories +0.8% M/M Vs +0.7% Prelim
2010/10/15 12:31*DJ Japan Aug Revised Shipments -0.8% M/M Vs -0.5% Prelim
2010/10/15 12:30*DJ Japan Aug Revised Indus Output -0.5% M/M Vs -0.3% Prelim
2010/10/15 12:10*DJ BOT Chairman: Personally Think Rate Should Pause At Oct 20 Meeting
2010/10/15 11:45DJ BOJ Yamaguchi: Will Steer Policy While Examining Positive, Negative Effects
TOKYO -Bank of Japan deputy Gov. Hirohide Yamaguchi said Friday that the central bank will steer monetary policy while closely examining both the positive and negative effects of its easing measures. Yamaguchi told a parliamentary committee that accommodative monetary policy could have positive effects, such as lowering firms' fundraising costs, as well as negative effects, such as reducing investors' profits. The deputy chief also repeated BOJ Gov. Masaaki Shirakawa's recent comment that the central bank could consider expanding its Y5 trillion fund to buy various financial assets--including corporate and government debt--should the economy show signs of deterioration. The BOJ introduced the fund after its policy meeting last week, where it also cut its target interest rate to a range of 0.0%.1% from 0.1% previously, and said rates would remain at virtually zero until prices begin to overcome deflationary pressure.
2010/10/15 11:40=DJ BOC WATCH: Survey Sees Bank Holding Steady Through End Of 2010
2010/10/15 11:31=DJ FOREX VIEW: Canadian Parity, Without The Party
2010/10/15 10:55DJ Japan PM Kan: Very Concerned About Yen's Current Situation
TOKYO -Japan's Prime Minister Naoto Kan said Friday he is "very concerned" about the yen's continued climb, after the currency touched a 15-year high of Y80.88 to the dollar overnight."We intervened in the currency market on the view that the yen's movement...was rapid," Kan said during a parliamentary session. With the yen still rising, "I am very concerned about the current situation," he said.
2010/10/15 10:29*DJ BOJ Yamaguchi: Will Steer Policy While Examining Positive, Negative Effects
2010/10/15 10:28*DJ BOJ Yamaguchi: Monetary Policy Could Have Both Positive And Negative Effects
2010/10/15 10:19*DJ Japan PM Kan: Very Concerned About Yen's Current Situation
2010/10/15 10:15*DJ BOT: Baht Strength Will Weigh On Benchmark Rate Decision Wed
2010/10/15 10:12*DJ BOT: Current Monetary Policy Works Effectively
2010/10/15 10:00=DJ US Executives See Heightened Risks, Subsiding Growth -Survey
2010/10/15 09:30DJ Japan Goverment To Downgrade October Economic Assessment -Kyodo
TOKYO -The Japanese government has decided to downgrade its basic economic assessment in its monthly economic report for October, Kyodo News reported Friday, without citing where it obtained the information. The downgrade would be the first in the government's monthly assessment of the nation's economy since February 2009. The report is scheduled to be released next week. -By Tokyo Bureau, ; 813-6269-2770
2010/10/15 09:27DJ BOJ Governor: Ready To Take Appropriate Policy Steps
TOKYO -Bank of Japan Gov. Masaaki Shirakawa said Friday that the central bank is ready to take appropriate monetary policy measures amid downside risks to the domestic economy such as the rising yen and slowing overseas economies. 'The Bank of Japan will continue to implement policy steps appropriately, while carefully examining economic and price outlooks,' Shirakawa said at the opening of the central bank's quarterly branch managers' meeting. The central bank unveiled an ambitious easing package last week. It cut its policy target rate to a range of 0.0%.1% from 0.1% previously, and said rates would remain at virtually zero until prices begin to overcome deflationary pressures. The BOJ also launched a Y5 trillion fund to buy various financial assets, including corporate and government debt. The BOJ chief repeated the view that 'it has become more likely that the return of Japan's economy to the sustainable growth path with price stability will be delayed.' The BOJ is scheduled to release its regional economic report at 0530 GMT.
2010/10/15 09:02*DJ Japan Govt To Downgrade Econ Assessment In Monthly Econ Report For Oct -Kyodo
2010/10/15 08:43=DJ Fed's Kocherlakota: New Fed Asset Purchases Would Have 'More Muted' Impact
2010/10/15 08:43DJ HSBC Close To Dropping Bid For South Africa's Nedbank -FT
HSBC Holdings PLC is close to dropping its bid for South Africa's Nedbank Group Ltd. (NED.JO), the Financial Times reported Thursday, citing sources. Due diligence on Nedbank ended up being more complicated than expected, the FT cites the sources as saying. HSBC could retain a stake in the South African firm, but it would face competition, according to the FT. Standard Chartered PLC (STAN.LN) had also made a play for Nedbank. However, Standard Chartered Chief Executive told the FT Wednesday that its recently announced GBP3.3 billion rights issue 'is not a war chest for acquisitions.' Full story at http://www.ft.com/cms/s/0/aebaef12-d7bd-11df-b4780144feabdc0.html
2010/10/15 08:37DJ Japan Finance Minister Noda: Will Take Decisive Forex Steps If Needed
TOKYO -Japan's finance minister kept the possibility of intervention in the currency market on the table Friday, saying the government will take "decisive" steps if necessary to curb the yen's rise, regardless of the timing of upcoming international meetings."There is no change in our fundamental stance," Finance Minister Yoshihiko Noda said at a news conference after a regular Cabinet meeting. "From the perspective of curbing excessive fluctuations in exchange rates, we will take decisive steps when necessary."Noda added that the yen's gains Thursday were due to the dollar's broad weakness, and that efforts by individual nations aren't enough to deal with foreign exchange problems.The remarks suggest that while Japan stands ready to intervene to sell the yen if necessary, the government may also feel that the yen's current strength is beyond its control.
2010/10/15 08:35DJ Japan Economy Minister: Think FX Steps Could Be Taken Promptly
TOKYO (Nikkei/Dow Jones)--Japan's economy minister renewed his warnings on the surging yen Friday, saying appropriate action could be taken 'promptly'. 'I have been saying that excessive volatility in the currency market is not favorable for the economy,' Banri Kaieda said at a regular press conference. 'I think action could be taken promptly.' He added that the surging yen is 'putting a brake' on the economy. The dollar fell to a fresh 15-year low of Y80.88 against the Japanese currency overnight.
2010/10/15 08:33*DJ BOJ Shirakawa: Must Carefully Watch Developments In Fincl System
2010/10/15 08:31*DJ BOJ Shirakawa: Japan Fincl System Remains Stable Overall
2010/10/15 08:30*DJ BOJ Shirakawa: Timing For Japan Econ To Return To Sustainable Growth May Be Delayed
2010/10/15 08:29*DJ BOJ Shirakawa: Uncertainty Over US Econ Still High
2010/10/15 08:28*DJ BOJ Shirakawa: Must Watch Impact Of Weak Econ On Prices
2010/10/15 08:28*DJ BOJ Shirakawa: Japan Growth Rate May Be Weaker Than July Forecast
2010/10/15 08:28*DJ BOJ Shirakawa: Must Pay Attention To Econ Downside Risks
2010/10/15 08:27*DJ BOJ Shirakawa: Will Take Appropriate Monetary Policy Based Econ, Price Moves
2010/10/15 08:27*DJ BOJ Shirakawa: Japan Econ Still Shows Signs Of Moderate Recovery
2010/10/15 08:26*DJ BOJ Shirakawa: Pace Of Japan Econ Recovery Slowing Down
2010/10/15 08:25*DJ Japan PM Kan: Need Proactive Steps To Promote Japan Free Trade Accords
2010/10/15 08:05=DJ Fed's Balance Sheet Expands Slightly In Week Ended Oct 13
2010/10/15 08:03*DJ Lead 10-Yr JGB Futures Open Dn At 143.69 Vs 143.92 Thu
2010/10/15 08:02*DJ Nikkei Stock Average Opens Down 0.3% At 9551.21
2010/10/15 07:50*DJ Japan Econ Min Kaieda: Think FX Steps Could Be Taken Promptly
2010/10/15 07:47*DJ Lead Nikkei Futures Open Down 5 Points At 9570 On SGX
2010/10/15 07:47=DJ US House To Vote In November On Extra Social Security Payment
2010/10/15 07:46*DJ Japan Noda: Efforts By Individual Nations Can't Counter FX Problems
2010/10/15 07:44*DJ Japan Noda: Will Take Forex Steps Before Or After G-20 If Needed
2010/10/15 07:42*DJ Japan Noda: Dollar Weighed Down By US Slowdown, Expectations For US Easing
2010/10/15 07:42*DJ Japan Fin Min Noda: Stability In Forex Rates Desirable
2010/10/15 07:41*DJ Japan Fin Min Noda: Will Curb Excessive Forex Moves
2010/10/15 07:41*DJ Japan Fin Min Noda: Will Carefully Monitor Forex Market
2010/10/15 07:41*DJ Japan Fin Min Noda: Thursday's Yen Rise Came Amid Broad Dollar Weakness
2010/10/15 07:40*DJ Japan Fin Min Noda: Will Take Decisive Forex Steps If Needed
2010/10/15 07:35*DJ Foreigners Net Sellers Y256.8B Japan Stocks In Sep
2010/10/15 07:33*DJ Japanese Net Sellers Y142.2B Foreign Stocks In Sep
2010/10/15 07:33*DJ Foreigners Net Buyers Y709.0B Japan Bonds In Sep
2010/10/15 07:33*DJ Japanese Net Buyers Y2.853T Foreign Bonds In Sep
2010/10/15 07:32*DJ Foreigners Net Sellers Y256.8B Japan Stocks In Sep
2010/10/15 07:31*DJ Japanese Net Buyers Y2.853T Foreign Bonds In Sep
2010/10/15 07:31*DJ Japanese Net Sellers Y142.2B Foreign Stocks In Sep
2010/10/15 07:31*DJ Foreigners Net Buyers Y709.0B Japan Bonds In Sep
2010/10/15 07:20=DJ WORLD FOREX: Dollar Swoons Vs Broad Range Of Currencies-2-
2010/10/15 07:19DJ Fed's Rosengren:Buying Treasurys One Of Many Fed Options -CNBC
2010/10/15 06:05DJ Treasurys Fall On Bond Sale; 10-Yr Yield Highest Since Oct 1
YORK -A tepid 30-year bond sale fueled broad selling in the Treasury market Thursday, sending the benchmark 10-year note's yield to the highest level since the start of the month.The auction erased an earlier rally in the 30-year bond and turned it into the biggest loser in the market. The yield hit the highest level since Sept. 20.The $13 billion auction garnered the smallest demand since February, wrapping up this week's $66 billion new government notes and bonds supply.All three sales for the week, including $32 billion in three-year notes Tuesday and $21 billion in 10-year notes Wednesday, were weaker than recent average, sending signals that ultralow bond yields started to push many investors to seek higher returns in other assets.Bond yields have plunged in recent weeks as speculation grew that the Federal Reserve will step up government-debt purchases to support the economy, known as quantitative easing, when it meets to set monetary policy in early November.Goldman Sachs said the rally has seen its peak, while bond powerhouse Pacific Investment Management Co. has sought better returns in high-grade corporate bonds and mortgage-backed securities."Buyers finally said 'enough' to a series of auctions at or near record yields and refused to chase prices further," said George Goncalves, head of U.S. interest rates strategy at Nomura Securities International in New York.As of 3:55 p.m. EDT, the benchmark 10-year note was 21/32 lower to yield 2.497% and the 30-year bond was 1 16/32 lower to yield 3.903%. Bond prices move inversely to yields.The 10-year note's yield touched 2.515%, the highest level since Oct. 1. The 30-year bond's yield hit 3.916%.Thomas Roth, executive director in the U.S. government bond trading group at Mitsubishi UFJ Securities Inc. in New York, rated this week's auctions as C-plus.With the bond market aggressively pricing in quantitative easing, it makes further gains in Treasurys "difficult being that we are still far away from the November meeting, which leaves a lot of room for error," he said.The 30-year bond posed a brief rally before the sale as some investors cashed out of wagers on price declines in the maturity. The bond has underperformed over the past couple of weeks on speculation that the Fed may concentrate its debt buying in shorter-dated Treasurys.Many investors had also dumped the 30-year bond on worries that the Fed's monetary stimulus may generate inflation in the longer term. The longer the maturity, the more the bond's value falls when consumer prices rise.The yield premium to hold the 30-year bond rather than the benchmark 10-year note was at a record high 141 basis points. The premium has surged from 118 basis points at the end of September.Bond investors are now awaiting Fed Chairman Ben Bernanke's speech and the September consumer prices and retail sales releases, all due Friday morning. The key focus will be whether Bernanke will provide more details about government-debt buying.The Fed already conducted small-scale buying in Treasurys since mid-August, using proceeds from its maturing mortgage-backed securities holdings.But many market participants bet that the Fed may buy bonds on a larger scale, with a size estimated between $500 billion to $1 trillion, aimed at pushing down long-term borrowing costs to spur consumer spending and business investments."Certainly, three poorly received auctions in a row piques our interest but we are not yet ready to declare the bond market rally dead," said Dan Greenhaus, chief economic and bond strategist at Miller, Tabak & Co. in New York. "We want to sit through additional auctions before turning hysterical."Kevin Flanagan, chief fixed-income strategist at Morgan Stanley Smith Barney in Purchase, N.Y., said the 10-year yield could very well fall from here up to and including a Nov. 3 announcement on quantitative easing from the Fed.But he said he doesn't think any additional decline in yield would be sustainable, and the yield is likely to rise going into year end and the beginning of next year, he said.The 10-year note's yield touched 2.332% on Oct. 8, the lowest level since January 2009. US Swap Spreads WidenThe two-year spread, which measures the differential between the two-year swap rate and two-year Treasury yield and is a main gauge of credit risks, was 1.25 basis points wider at 17 basis points. The 10-year swap spread was 1 basis point wider at 8.75 basis points.
2010/10/15 05:40=DJ US Stocks Retreat; Foreclosure Concerns Drag Down Financials-2-
2010/10/15 05:02*DJ Fed's Kocherlakota: Inflation To Rise To 1.5%-2% By Second Half 2011
2010/10/15 05:02*DJ Fed's Kocherlakota: Asset Purchases Would Likely Be All Treasury
2010/10/15 04:42=DJ US Stocks Retreat; Foreclosure Concerns Drag Down Financials
2010/10/15 04:38DJ US M1 Rose $10B In Oct 4 Week; M2 Rose $19.6B
NEW YORK -The Federal Reserve's latest weekly money supply report Thursday shows seasonally adjusted M1 rose by $10 billion to $1.789 trillion, while M2 rose $19.6 billion to $8.752 trillion.The figures are preliminary estimates for the week extending through Oct. 4 and are subject to revisions.More details on the report, along with weekly information on the Fed's custody holdings, repurchase agreements, Treasury portfolio and free reserves, can be found on the Internet at http://www.federalreserve.gov/releases/.
2010/10/15 04:31*DJ Foreign Central Bk Custody Holdings At $3.266T As of Wed - Fed
2010/10/15 04:31*DJ Foreign Central Banks Agency Debt Holdings At $735.10B
2010/10/15 04:30*DJ US Fed Total Discount Window Borrowings Wed $49.34B
2010/10/15 04:30*DJ Foreign Central Banks Treasury Holdings At $2.531T
2010/10/15 04:16=DJ Fed Survey Shows Credit Flowing More Freely In U.S.
2010/10/15 04:05*DJ DJIA Closes Down 2 At 11094 As BofA, J.P. Morgan Plummet
2010/10/15 03:43DJ OIL FUTURES: Crude Falls On Report Of Declining US Demand
NEW YORK -Crude oil futures retreated from early gains Thursday, settling lower as a government report showed U.S. demand for petroleum products fell to the lowest level in nearly a year.Light, sweet crude for November delivery settled 32 cents, or 0.4%, lower at $82.69 a barrel on the New York Mercantile Exchange after rising as high as $84.12 earlier in the session. Brent crude on the ICE futures exchange settled 11 cents lower at $84.53 barrel.Data from the U.S. Department of Energy's Energy Information Administration tempered early gains in oil that resulted from a weakening dollar. The EIA reported a modest 400,000-barrel drop in crude oil inventories for the week ended Oct. 8. The decrease surprised analysts that had expected stockpiles to grow, but additional data showed weekly demand for oil and petroleum products dropped to the lowest level since November."The headline decline in inventories looks supportive, but the underlying demand numbers look very weak," said Tim Evans, an oil analyst with Citi Futures Perspective. "None of the stock declines will be seen as anything more than refinery-inventory management without stronger consumer demand for fuel, and that's where the weak demand numbers are important."Gasoline inventories fell by 1.8 million barrels, while stockpiles of distillates, which include heating oil and diesel, fell by 300,000 barrels.Analysts were expecting crude oil inventories to rise by 1.2 million barrels, according to a survey. Gasoline inventories were seen falling by 1.4 million barrels, and stocks of distillates were expected to fall by 1.5 million barrels.On Wednesday, the American Petroleum Institute, an industry group, released similar data showing a much larger draw in U.S. stockpiles. Analysts said that report helped support oil prices, though most traders were waiting for the more important EIA data.Inventory reports have been mostly ignored by investors in recent months as action in financial markets has dominated oil traders' attention. A weakening dollar and stock market gains have allayed fears about growing domestic supplies and demand that remains sluggish.A weak dollar makes oil cheaper for buyers in other currencies, and the euro's surge to the highest level against the dollar since January recently pushed oil above $84 a barrel for the first time in five-months. The falling greenback has helped keep crude futures above $80 a barrel for more than a week."We've seen a few stalls along this rally, but I think what days like this do is shake out the weak hands," said Zachary Oxman, managing director at TrendMax Futures. "I'm still seeing people getting away from currencies and into commodities."The dollar remained lower throughout Thursday's session. The ICE dollar index, which measures the dollar against a basket of other currencies, was recently down 0.6%, while the euro rose 0.6% to $1.4061. Without the weaker greenback, some analysts say supply and demand in the oil market would offer little support for current price levels.Meanwhile, the Organization of Petroleum Exporting Countries decided again to keep its production policy unchanged, OPEC officials said. The decision was widely expected as oil producers have enjoyed strong and consistent oil prices.Front-month November reformulated gasoline blendstock, or RBOB, settled 2.96 cents, or 1.4%, lower at $2.1365 a gallon. November heating oil settled 1.68 cents lower at $2.2839 a gallon.More information on settlements and highs and lows for futures on Nymex and ICE platforms can be found by searching for the following headlines: Nymex Light Crude Oil Close Nymex Harbor RBOB Gasoline Close Nymex Heating Oil Close ICE Brent Crude Oil Close ICE Gas Oil Close
2010/10/15 03:26*DJ Rosengren: Deflation Is A Low Probability Event - CNBC
2010/10/15 03:23*DJ Rosengren: Mortgage, Corporate Bonds Also Buying Options - CNBC
2010/10/15 03:21*DJ Rosengren: Says Full Employment Will Take A While - CNBC
2010/10/15 03:20*DJ Fed's Rosengren: More Bond Buying One Of Many Options For Fed - CNBC
2010/10/15 02:54DJ PRECIOUS METALS: NY Gold Rises To New Record On Weaker Dollar
2010/10/15 02:40*DJ OIL FUTURES: Nymex Crude Settles Down 32c At $82.69/Bbl
2010/10/15 02:38*DJ OIL FUTURES: Crude Falls On Report Of Declining US Demand
2010/10/15 02:36*DJ Business Council Survey: Majority See 2011 US GDP Growth At 2.1% To 3%
2010/10/15 02:36*DJ OIL FUTURES: Nymex Crude Closes Down 31c At $82.70/Bbl
2010/10/15 02:31*DJ Business Council Survey: Majority See US Unemployment At 9.1% To 9.5% In June 2011
2010/10/15 02:27*DJ Business Council: Momentum Of Global Recovery Has 'Subsided' Since May
2010/10/15 01:59*DJ NY Dec Gold Rises $7.10 To Settle At Record $1,377.60/Oz
2010/10/15 01:36*DJ Strength In Comex Gold Futures Comes As US Dollar Weakens
2010/10/15 01:35*DJ Dec Gold Up 0.5% At $1,377.20/Oz After Close, Ahead Of Settle
2010/10/15 01:33*DJ Comex Gold Poised To Settle At Fresh Record above $1,375/Oz
2010/10/15 01:05*DJ Treasurys Fall More After Tepid 30-Year Auction
2010/10/15 00:36=DJ EURONOMICS: IMF Paper Ties Euro To Persistently Large Trade Gaps
