Broadcasting 24hrs live since 1998
Europe Americas Asia Weekly Wrap Up Monthly Sign In Listen Live with a Free Guest Pass
US Market Update TRADETHENEWS.COM STAFF
Europe remains in the driver's seat; stocks churn just below recent highs   
Wed, 27 Aug 10:45 AM EST/03:45 PM GMT
< Previous Update  |  Next Update >
Economic Data
- (IE) Ireland July Property Prices M/M: 2.0% v 2.9% prior; Y/Y: 13.4% v 12.5% prior
- (US) MBA Mortgage Applications w/e Aug 22nd: +2.8% v +1.4% prior
- (TR) Turkey Central Bank (CBRT) left its Benchmark Repurchase Rate at 8.25% (as expected) but adjust the its rate corridor with Overnight Lending Rate cut by 75bps to 11.25%
- (BR) Brazil July PPI Manufacturing M/M: -0.3% v -0.1% prior; Y/Y: 3.5% v 5.0% prior
- (MX) Mexico July Preliminary Trade Balance: -979.9$ v -$810.0Me
- (US) DOE Crude: -2.07M v -1Me; Gasoline: -1M v -1Me; Distillate: +1.25M v -0.5Me; Utilization: 93.5% v 92.9%

- With little if any US data to sift through, investors continue to focus on geopolitical developments, plunging European bond yields and technical levels as the main drivers of trade. US indices opened flat to slightly higher but have retraced modestly from the most recent high water marks. The scuttlebutt in Europe continues to be the pressure is on Draghi to act and act decisively to fend off deflation. Despite some jawboning from the German Finance Ministry the 10-year bund yield fell to a fresh lifetime low below 0.9%. US rates followed Europe lower and the curve flattened once again. The 2-10 year spread is approaching 185 basis points, narrower by some 4+ bps on the day. The 5-year is exhibiting some relative strength ahead of this this afternoon's $35 in supply. Rates on both sides of the Atlantic did lift from the intraday lows after a report indicated ECB sources still see action as unlikely at the Sep 4th meeting.

- Gun maker Smith and Wesson came under some fire from investors following last night's Q1 earnings ...
< Previous Update  |  Next Update >
Listen live via a free guest pass.
Stock, Credit, Futures and Currency Traders Welcome.
Live 24hr coverage for the European, Americas and Asian Sessions. Profit from a complimentary week of access.