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Updated: 1 hour 8 min ago
Top Democrat on the Appropriations Committee
I guess that is not too shocking.
May and Macron hold press conference
- Britain will continue to play a full role to help security in Europe
- Believes city of London will continue to be major global financial center
Bid to cover 2.69 vs 2.43
The US treasury sold $13B of TIPs at 0.548%.
Strong demand for the inflation linked bonds.
My town did not... : (
Amazon released the finalists for the home of their 2nd headquarters today. The list was pared from 238 towns who threw their hat in the ring.
Audio recap of today's trade
There had been some brushback from various ECB officials
this week, when it came to the topic of the rallying euro, with many concerned
about excessive appreciation against the dollar. But on Thursday, ECB Coeure
moved in a different direction, offering upbeat comments that helped to prop
Will aim to avert a government shutdown
Sure, let's do this once a week instead of once a month.
Meanwhile, Rand Paul said he isn't voting for anything.
10 year yields are also mixed.
The European major stock indices closed and they had mixed results on the day:
IN the 10 year debt market, yields were mixed:
In other financial markets as London/European traders move toward their close, shows:
The can must be kicked
Small dollar bounce on the headline.
The good news is we get to play this game all over again in a few weeks.
McConnell reportedly planning for shutdown - Politico reports
The US dollar suddenly dropped across the board on the headlines. The dollar is at the worst levels of the day against the yen, pound and loonie.
House to vote later today
Trump warned the US government "could very well" shut down in his latest missive.
This song and dance takes place a few times a year. There was a time when markets cared but now everyone just shrugs and assumes Congress will do the right thing...once all other options are exhausted.
Weekly oil inventory and production data from the DOE
- Prior was -4948K
- Gasoline +3620K
- Distillate -3887K
- Cushing -4184K (largest drop on record)
- Production +258K bpd
The API numbers from late yesterday:
Comments from IMF's Rice
The IMF hasn't been an organization (since the crisis) to be overly rosy.
On crypto, Communications Director Rice said "We think greater international discussion and cooperation among regulators, yes, would be helpful."
Trump measures himself by the stock market
Saturday marks one-year since Trump's inauguration. It's tough to imagine how anyone will survive another three years of this circus but investors should be increasingly confident of one thing: the stock market will continued to climb.
Taking a breather after yesterday's >1% gains
The US major stock indices are taking a breather after yesterday's > 1% gains.
The US yields are higher but off highs for the day:
Double top, or a brief pause
Yesterday's rebound in the S&P 500 was very impressive but yesterday's earnings report from Alcoa wasn't a great sign for the global economy and the index is slightly lower today.
The SA rand is stronger after the SAR leaves rates on hold 18 Jan
- 5 voted in favour
- 1 voted for cut of 0.25%
Further to my and tweet the SAR left repo rate on hold as expected but the rand has breathed a sigh of relief and USDZAR now at 12.2030 from 12.2610 prior
New data on Canadian employment from ADP
The ADP number diverges wildly from the official report, which showed more than 78K new jobs.
Continuing claims 1952K versus 1900K expected
The trend recently has been more to the upside as weather and the seasonal effects worked themselves out. This week was back to the strong side for the employment trend. It may have been impacted by a pent up rebound from the most recent weakness in the series.
January manufacturing PMI for the Philadelphia area
- was 27.9
- New orders 10.1 vs 28.2 prior
- Prices paid 32.9 vs 27.8 prior
- Employment 16.8 vs 19.7 prior
Solid report but the dip in new orders is a bit concerning. The rise in prices paid/received is something that's appearing more and more in surveys.
UK Dec housing data now out 18 Jan
- 1297k prev
- mm -8.2% vs -1.7% exp vs 3.0% prev rev down from 3.3%
- building permits 1302k vs 1295k exp vs 1303k prev
Soggy housing starts but tempered by better permits leaves USD little changed.