Key Treasury Bond Auctions Along Yield Curve Next Week with Newly Hawkish Fed

Following the turmoil in the market this week following the Federal Reserve System Chairman Jerome Powell took a decidedly hawkish tone today at last month’s FOMC and the release of Minutes yesterday which sent US stock markets sharply lower. In the Treasury market the 2-yr yield, which tracks expectations for the fed funds rate, rose seven basis points to 0.83%. The 10-yr yield settled the session four basis points higher at 1.71%, with growing expectations for a run-up to 2.00%. … Continue reading “Key Treasury Bond Auctions Along Yield Curve Next Week with Newly Hawkish Fed”

France’s CAC 40 Bourse Lead Europe Higher in 2021 up 29% For the Year

The French Blue Chip stock index, the CAC 40 soared almost 29 percent in 2021, its best showing in over 20 years after closing the last day of the year down 0.9% to 7,153. A strong reversal from being down 7.1% in 2020. The CAC recovered from bouts of panic selling on the back of the coronavirus pandemic. France’s stocks were the best performing in Europe. CAC40 For 2021 The CAC 40 Index closed at 7,153 on the final trading … Continue reading “France’s CAC 40 Bourse Lead Europe Higher in 2021 up 29% For the Year”

Italy’s FTSE MIB Borsa Italiana Closed Up 23% in 2021

The Italian Blue Chip stock index, the FTSE MIB closed unchanged at 27,346.83 on the last trading day of the year, up 23% for 2021. It was the second sharpest yearly rise since 2009, after falling 5.4% to 22,233 in 2020. The index is well off the nearly eight-year low of 14,153 from the height of the Covid panic.    The FTSE MIB closed 2021 at 27,346.83 up 23% on the year in the second steepest yearly increase for the … Continue reading “Italy’s FTSE MIB Borsa Italiana Closed Up 23% in 2021”

Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022

Agricultural and energy futures and commodities rose sharply pumped by the reopening of economies in 2021 with the Covid -19 knock ons running roughshod over supply routes and employment. The biggest losers were last year’s winners, safe haven elements such as the VIX, treasuries and foodstuffs. Oat Futures closed up 89.74% this year. back in October the United Nations index shows that global food prices recently hit a decade high, oat futures hit an all-time high of $6.36 a bushel … Continue reading “Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022”

Nike Earnings Beat on Vigorous North American Sales

Nike reported stronger than expected Q2 2022 results after the close Monday. Nike’s consumer demand in $NKE’s biggest market North America, was vigorous. Business in China remains pivotal with varying backlash in China amid global tensions saw sales down 20%. Nike’s strong digital revenue growth continued. Nike Inc NYSE: NKE Reported Earnings After Close Monday 83 cents vs $0.63 EPS and $11.36 billion $11.25 Billion forecast in revenue.  Earnings Preview Q2 2022 results after the close; conference call at 5 p.m. … Continue reading “Nike Earnings Beat on Vigorous North American Sales”

Micron Earnings Boosted by Data Center Sales and DRAM Shipments for the Cloud.

Memory chip maker Micron reported better than expected earnings after the close Monday boosted by data-center sales growing over 70% year over year from cloud demand and the resurgence of enterprise IT investment. Strong DRAM bit shipments for the cloud, graphics, PC and notebook, 5G and automotive markets continued. Micron DRAM memory density Micron Technology, Inc. NASDAQ: MU Reported Earnings After Close Monday $2.16 Beat $2.10 EPS Forecast and $7.69 Beat $7.68 billion forecast in revenue Earnings Q1 2022 results … Continue reading “Micron Earnings Boosted by Data Center Sales and DRAM Shipments for the Cloud.”

U.S. 10-year Treasury Bond Auction With High Yield of 1.518% With 0.4 BPs Tail

The US Treasury 20-Year Bond Sale performed worse than expected, garnering a C- rating across the Fixed Interest desk. The tail was 0.4 basis points with WI level at time of the auction 1.514% and the high yield of 1.518% at the auction. Heading into the auction US yields were higher with the current 10 year trading up at 1.52% or up 4.1 basis points Auction Highlights Duration: 10 Years Amount:  $36 billion High yield 1.518% (prev 1.444%) WI level … Continue reading “U.S. 10-year Treasury Bond Auction With High Yield of 1.518% With 0.4 BPs Tail”

Key Treasury Bond Auctions Along Yield Curve Next Week To Test Investor Resolve

Following the turmoil in the market this week and last from the new B.1.1.529 variant now known as Omicron has scientists concerned for two primary reasons. Federal Reserve System Chairman Jerome Powell took a decidedly hawkish tone today which sent US stock markets lower. Fed Chair Powell said it’s a good time to retire the word “transitory” and suggests its appropriate to taper more quickly. The U.S. Treasury has announced that next week they will auction $54 billion three year notes $36 … Continue reading “Key Treasury Bond Auctions Along Yield Curve Next Week To Test Investor Resolve”

Soybean, Soyoil and Soymeal Prices Fall With Broad Commodity Selloff

Soybean prices were hit by a general financial market malaise Friday after the Omicron variant hit the airwaves and a broad range of commodities. Soybean prices closed around 1% lower. Soyoil futures were much weaker falling 3% lower, with soymeal losing around 0.5%. Soybean prices closed around 1% lower. January futures fell 13 cents to $12.53 and March futures fell 13.75 cents to $12.6350. Soyoil futures were much weaker falling 3% lower, with soymeal losing around 0.5%. Soybean basis bids … Continue reading “Soybean, Soyoil and Soymeal Prices Fall With Broad Commodity Selloff”

Corn Avoids Commodity Selloff After Strong USDA Export Data

Commodities sold off across the board after the new Covid variant Omicron caused fear and uncertainty in Friday’s shortened session. Corn prices were in the red most of the day but turned green after better-than-expected export data from USDA took hold. Corn’s late-session rally helped prices jump more than 1% higher by the close, December futures added 6.5 cents to $5.8625, with March futures up 6.25 cents to $5.9175. Preliminary volume estimates were for 296,804 contracts, falling well below Wednesday’s … Continue reading “Corn Avoids Commodity Selloff After Strong USDA Export Data”