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High yield of 4.787% WI level at the time of the auction 4.785% Tail 0.2 basis points versus average of 0.1 basis point Bid to cover 2.63X average of 2.61X Directs 13.19% versus average of 28.3% Indirects 57.79% versus average of 58.6% Dealers 13.19% versus average of 13.1% This article was written by Greg Michalowski at investinglive.com.
Services index 0 vs -8 prior Composite index -2 vs +4 prior Manufacturing shipments -5 vs +11 prior This is a mixed bag relative to the prior numbers but none of it is good, as all the main indexes are at zero or below. This article was written by Adam Button at investinglive.com.
Prior -15.5 last month. Euro area flash consumer confidence: -16.5 vs -16.0 expected. Prior -15.5. EU flash consumer confidence: -15.8, down 0.8 points from August. The European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN) reports that euro area consumer confidence fell 1.0 point in September. The decline was slightly larger than expected and ended four months of…
Regional activity -22.0 vs -10.6 prior (lowest since June) New orders -2.2 vs -10.1 prior Sales/revenues 6.8 vs 7.9 prior Full-time employment 19.0 vs 2.1 prior (highest since June 2022) Part-time employment 10.7 vs 1.1 prior Prices paid 37.8 vs 29.2 prior Prices received 20.0 vs 10.3 prior (highest since June) Wage and benefit costs 40.7 vs 39.2 prior Avg workweek 8.5 vs -13.4 prior Capex…
Headlines: Fars news denies reports of Iran ready to reopen Strait of Hormuz if the US eases blockade Oil prices extend decline as Saudi Arabia restarts East-West pipeline, prepares to resume crude exports Silver remains supported amid growing Middle East de-escalation hopes as Iran offers to reopen Hormuz Oil prices hover near $100 ahead of potential US-Iran talks, what happens if Brent crude…
Reports of potential negotiations between Iran and the US and the possibility of the Strait of Hormuz reopening pushed oil prices lower earlier in the session, but Iranian sources are now denying the claims via Fars News. Kyodo and Reuters reported earlier, citing Iranian sources, that Tehran could be prepared to reopen the Strait of Hormuz within seven days if the US reduced military pressure…
Saudi Arabia is preparing to resume crude oil exports from the Red Sea port of Yanbu as early as Tuesday, according to people familiar with the matter, in another sign that the kingdom is gradually restoring its disrupted oil export infrastructure. Several Asian refiners have reportedly been informed by Saudi Aramco that they will soon be able to collect crude from Yanbu again. The development…
Iran has offered to reopen the Strait of Hormuz within seven days if the United States takes steps to ease military and economic pressure on Tehran, according to a senior Iranian government official cited by Kyodo News. The proposal was reportedly conveyed to Washington through intermediaries as diplomatic efforts intensify around the UN General Assembly in New York. Under the proposal, Iran…
After all the hype and talk about the Fed, somehow stocks are finding some breathing room again. The Nasdaq closed at a record high on Monday as AI optimism returned, while the S&P 500 also posted a strong rebound. Lower oil prices and a mild retreat in Treasury yields have helped improve the mood after last week's volatility. However, I don't think broader markets are completely out of the woods…
EUROPEAN SESSION In the European session, we don't have much on the agenda other than a couple of low-tier releases like the Swiss current account and Spanish balance of trade. The data won't change anything for the respective central banks, so the market reaction will be muted. The price action might stay mostly rangebound as traders await Trump's speech at the UN General Assembly and the…
RBA's Bullock says supply shocks hard for policy to manage, flags second round risk Low expectations set for Trump-Xi meeting as trade truce set to be extended RBNZ's Breman says higher oil prices point to firmer near-term inflation ICYMI: Bessent says all Iranian airlines will be shut down worldwide from September 23 ICYMI: Fed's Musalem says more rate hikes likely needed as inflation risks stay…
With both sides signalling modest ambitions, markets are unlikely to see a major trade breakthrough from this week's meeting, reducing the odds of a sharp risk on move tied to US-China relations specifically. The expected extension of the Busan trade truce, due to expire in November, removes a near term tail risk of renewed triple digit tariffs and disrupted rare earths access, both of which…
The rules add a fresh layer of regulatory cost and complexity for data centre developers operating in Victoria, potentially slowing approvals or raising build costs for companies required to source dedicated renewable energy and non-drinking water supplies. Because the changes are not retrospective, already approved projects and applications currently before the minister are shielded from the new…
Fed's Collins pencils in second hike this year, then expects rates on hold in 2027 Nasdaq Composite closes at a record as Meta and chip stocks surge Trump proposes USD 5 billion fund to help rebuild Gulf energy sites — WSJ St. Louis Fed’s Musalem: Interest rates likely need to rise further to tame inflation Meta shares surge more than 10% as Muse excitement triggers a major technical breakout…
The Trump administration’s proposal was reported by the Wall Street Journal, citing U.S. and Middle Eastern officials and documents: Proposal is under discussion with several Middle Eastern countries, including Saudi Arabia and the U.A.E. Analysis: The proposal appears designed to address two goals: rebuild damaged Gulf energy infrastructure and develop alternative transportation routes that…
Treasury Secretary Scott Bessent hit the news circuit today and followed up with a post on X touting economic gains under the administration. Meanwhile, President Trump has been posting a mix of combative press criticism, upbeat trade/policy announcements, and walked back escalatory war rhetoric on Iran — a pattern likely to accelerate as the midterms approach. Bessent's X post — economic…
Treasury Secretary Scott Bessent hit the news circuit today and followed up with a post on X touting economic gains under the administration. Meanwhile, President Trump has been posting a mix of combative press criticism, upbeat trade/policy announcements, and walked back escalatory war rhetoric on Iran — a pattern likely to accelerate as the midterms approach. Bessent's X post — economic…
Comments from Bank of Canada Governor Tiff Macklem cross the wires: If oil prices stay near $100 a barrel, we'd expect inflation to edge up in coming months Recent gas prices have been more consistent with an oil price almost $40 higher than where it has been We don't want to raise rates and restrain growth if inflationary pressures are contained When it comes to rate decisions, we need to look…
Comments from Bank of Canada Governor Tiff Macklem cross the wires: If oil prices stay near $100 a barrel, we'd expect inflation to edge up in coming months Recent gas prices have been more consistent with an oil price almost $40 higher than where it has been We don't want to raise rates and restrain growth if inflationary pressures are contained When it comes to rate decisions, we need to look…
Reuters -- citing two sources -- reports that Yemen's President spoke to US President Donald Trump on Sunday. Yeme's President asked for miliary help but Trump made no pledges. Oil is down $3.38 to $92.77 today on hopes for a new round of diplomacy to find a way for the US and Iran to end hostilities. That move is boosting the entire risk complex. This article was written by Adam Button at…
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