U.S. stock futures edge lower, sinking after Fitch says the European Central Bank must do more to support Italy as investors await the Federal Reserve’s Beige Book report on the U.S. economy.
Originally from MarketWatch
NEW YORK (MarketWatch) -- Treasury prices fell on Tuesday, pushing 10- year yields briefly back above 2%, as better data in Europe and rising equities deplete interest in the relative safety of U.S. bonds on the first trading day of the year. The Institute for Supply Management's report on U.S. manufacturing, released at 10 a.m. Eastern time, is also expected to show an improvement in December. Yields on 10-year notes , which move inversely to prices, rose 11 basis points to 1.99%. "We suppose the glib thinking is that it's a New Year and you're supposed to start with risk on the books and justify that afterwards so perhaps, indeed, we'll start with a bit of bond market pressure," said bond strategists at CRT Capital Group. "If so, it's surely going to be limited because to the best of our knowledge so little has changed to lend encouragement to the factors that kept yields low into year end." Also on tap, the Federal Reserve will release minutes from its last policy meeting.
Originally from MarketWatch
Gold futures decline further after the Federal Reserve’s decision not to provide additional monetary stimulus, with worries over Europe also remaining in nervous investors’ cross-hairs.
Originally from MarketWatch
LONDON (Reuters) - The euro hit an 11-month low against the dollar and stocks eased on Wednesday after the Federal Reserve warned Europe's sovereign debt crisis could hurt the U.S. economy but failed to signal fresh action to stimulate growth.
Originally from Reuters: Business News
LONDON (Reuters) - The euro hit an 11-month low against the dollar and stocks eased on Wednesday after the Federal Reserve warned Europe's sovereign debt crisis could hurt the U.S. economy but failed to signal fresh action to stimulate growth.
Originally from Reuters: Business News
SINGAPORE (Reuters) - Asian shares drifted lower and the euro idled near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved sovereign debt crisis.
Originally from Reuters: Business News
SINGAPORE (Reuters) - Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis.
Originally from Reuters: Business News
SINGAPORE (Reuters) - Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis.
Originally from Reuters: Business News
Canadian stocks close lower, sending the market’s benchmark index to its lowest level in two weeks after the U.S. Federal Reserve refers to the economy in the U.S., Canada’s largest trading partner, as “expanding moderately,” but also mentions a slowdown in global growth.
Originally from MarketWatch
FRANKFURT (MarketWatch) -- The cost of swapping euros for dollars in money markets fell Wednesday in volatile trading after the U.S. Federal Reserve, the European Central Bank and other major central banks took coordinated steps to avert a global liquidity crunch by lowering the cost of dollar loans. The three-month euro-dollar cross-currency basis swap was seen at minus 129 basis points in recent action after earlier falling to nearly a three-month low at minus 162.5, according to interbank broker ICAP. The lower the figure, the higher the cost of swapping euros for dollars. "The basis swap market had a choppy ride following the announcement, with the three-month racing in initially before seeing some large price gaps in either direction as the market struggled to establish a new level," said ICAP strategist Chris Clark.
Originally from MarketWatch
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