• Friday, July 31, 2015 - 16:51 Friday's Top Stories in the United States 0


    * In the week ahead, early continued month-end duration buying is expected to bolster bonds, but the near-term direction of the market largely will depend on whether this Friday's jobs report confirms the weakness seen in the meager 0.2% Q2 Employment Cost Index increase. Traders said the soft ECI reversed most positions: investors started short and in flatteners, and they had to cover, sending the 10-year yield to 2.20% during Friday trading. It is possible the market will go higher, as the month-end "has not been done" yet in earnest, traders said. Of particular interest is the 5/30Y steepener, recently at +135 basis points, that could keep going near-term. A trader said, "If the Friday jobs report is a blockbuster, we'll flatten, as the Fed (rate...

  • Friday, July 31, 2015 - 16:48 Friday's Top Stories in the United States 0


    * In the week ahead, early continued month-end duration buying is expected to bolster bonds, but the near-term direction of the market largely will depend on whether this Friday's jobs report confirms the weakness seen in the meager 0.2% Q2 Employment Cost Index increase. Traders said the soft ECI reversed most positions: investors started short and in flatteners, and they had to cover, sending the 10-year yield to 2.20% during Friday trading. It is possible the market will go higher, as the month-end "has not been done" yet in earnest, traders said. Of particular interest is the 5/30Y steepener, recently at +135 basis points, that could keep going near-term. A trader said, "If the Friday jobs report is a blockbuster, we'll flatten, as the Fed (rate...

  • Friday, July 31, 2015 - 16:24 Fannie Mae: June Duration Gap Zero; Portf -13.8% Annualized 0


    WASHINGTON (MNI) - The following is the text of Fannie Mae's June highlights, published Friday:

    - Fannie Mae's Book of Business remained relatively flat in June.

    - Fannie Mae's Gross Mortgage Portfolio decreased at a compound annualized rate of 13.8 percent in June.

    - The Conventional Single-Family Serious Delinquency Rate fell four basis points to 1.66 percent in June; the Multifamily Serious Delinquency Rate decreased one basis point to 0.06 percent in April.

    - The Effective Duration Gap on Fannie Mae's portfolio averaged zero months in June.

    - Fannie Mae completed 8,356 loan modifications in June for a total of 52,914 loan modifications in the six months ended June 30, 2015.

    ...

  • Friday, July 31, 2015 - 16:15 US Tsy: FSOC Maintained AIG, GE Capital SIFI Status - Text 0


    WASHINGTON (MNI) - The following is the U.S. Treasury Department's summary of Friday's closed meeting of the Financial Stability Oversight Council:

    Secretary Jack Lew today convened a meeting of the Financial Stability Oversight Council (Council) in an executive session at the Treasury Department.

    During the meeting, the Council heard updates from the Treasury Department regarding recent international and domestic market developments.

    The Council also discussed its ongoing assessment of potential risks to U.S.

  • Friday, July 31, 2015 - 15:33 Canada: Economic Data Calendar 0


    All release dates are subject to change

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    Data Date ET Thru Release Prior Release

    05-Aug 0830 Jun Intl merchandise trade -C$3.3b 07-Aug 1000 Jul Ivey PMI (SA) 55.9 07-Aug 0830 Jun Building permits -14.5% 07-Aug 0830 Jul Employment -6.4k 07-Aug 0830 Jul Unemployment Rate 6.8% 11-Aug 0815 Jul CMHC Housing starts 202,818 SAAR 13-Aug 0830 Jun New Housing...

  • Friday, July 31, 2015 - 13:51 Analysis: Re ECI, Is it a Mystery That Commissions 'Dry Up?' 0


    --Negatives Permeate Employment Cost Index; +0.2% in 2Q

    WASHINGTON (MNI) - "Finally they say enough is enough" and down go your commissions, the nutshell reason the second quarter compensation almost flatlined, someone who knows told MNI Friday.

    The arrival of the Employment Cost Index had a disproportionately large impact, coming as it did on a quiet day as analysts were already trying to gin up some fresh analysis for those Monday meetings. Treasuries rallied and the dollar sank.