2005: Il ritorno dei Bund/Bonds viventi ! vm 18 anni

[gastronomo]

U.S. Treasuries dive on strong Philly Fed data
Thu Apr 21, 2005 12:13 PM ET
NEW YORK, April 21 (Reuters) - Treasury debt prices dived on Thursday after a reading on regional U.S. manufacturing proved stunningly strong, confounding many who had bet on a soft number.
The Philadelphia Federal Reserve Bank business activity index jumped to 25.3 in April from 11.4 in March, astounding analysts who had looked for a dip to 10.0. Many in the market had expected a softer result given the steep drop in the New York Fed's Empire State index.

The Philadelphia's prices paid measure also leaped 20.8 points to 50.5, stirring fears of inflation just a day after the March consumer price index showed a hefty gain.

The benchmark 10-year Treasury note (US10YT=RR: Quote, Profile, Research) slid 22/32 in price, lifting yields to 4.27 percent from 4.19 percent late Wednesday. Two-year notes (US2YT=RR: Quote, Profile, Research) dropped 7/32, taking yields to 3.62 percent from 3.49 percent.


Quando leggo "dive" già mi vedo in costumino che faccio i gargarismi con un Cuba Libre mentre osservo marosi hawaaiani che travolgono i longs ...

 

[SPERO]

non ho capito cosa vuol dire "dive " ma penso sia una bella parola


ti faccio compagnia guardando i marosi con una "tachipirinia " no forse

capirinia con la cediglia

 

[f4f]

ciao bbbanda
sk

 

[SPERO]

ciao bbbanda
sk

ciao f4... soffia all'ingiu' con noi

 

[f4f]

guarda devo annà de corza
ma


col ciube si pensava stamane

vendere bund 120.3
vendere put 120+047

mah ... ormai ....

 

[SPERO]

uno spiraglio,una speranzina l'hanno data

meglio che niente..


vi auguro una buona serata

domenico

 

[gastronomo]

Tecnicamente era meglio una chiusura sull'82, ma negli ultimi 10 minuti son venuti fuori anche gli ussari a sostenerlo, pure sull'eura , il che è l'ulteriore conferma che sono i 'mericans a esser lunghi ... vediamo se domani va a rompere il .60, molto dipenderà da quanto è forte il rimbalzo dell'azionario ... vedrem ... cmq fin che scende c'è speranza - domani non ci sono dati US

 

[Fleursdumal]

la cosmicità sta iniziando a tarlarmi il lobo fronto-laterale sinistro :smile:

gli indici stanno guadagnando il 2% ormai ma illo non vuole andare definitivamente sotto la quota totemica 113,5 , finchè non ci va sotto è ancora un buy orcolo

 

[Fleursdumal]

US Treasuries crumble as 'soft spot' questioned

(Adds Fed data, reaction, updates prices)

By Wayne Cole

NEW YORK, April 21 (Reuters) - Treasury debt prices fell sharply on Thursday after a surprisingly strong reading on regional U.S. manufacturing countered market talk that the economy was slowing.

The Philadelphia Federal Reserve Bank business activity index jumped to 25.3 in April from 11.4 in March, astounding analysts who had looked for a dip to 10.0. Many in the market had expected a softer result, given the steep drop in the New York Fed's Empire State index.

The Philadelphia Fed's prices paid measure also leaped 20.8 points to 50.5, stirring fears of inflation just a day after the March consumer price index showed a hefty gain.

All this was unwelcome news to bond bulls, who had recently been betting on an economic slowdown. "The bond market was priced for the economy falling apart and that's clearly not happening," said James Glassman, senior economist at JPMorgan.

The benchmark 10-year Treasury note <US10YT=RR> slid 26/32 in price, while yields climbed to 4.29 percent, having ended at two-month lows of 4.19 percent on Wednesday.

Five-year notes <US5YT=RR> lost 19/32, taking yields to 3.95 percent from 3.83 percent. The 30-year bond <US30YT=RR> shed 1-7/32, lifting its yield to 4.62 percent from 4.55 percent.

"The Philly data suggest talk of a slowdown was premature and the economy hasn't been derailed as yet," said Glassman. "It also suggests the Fed will keep tightening and need to be watchful on inflation."

That view took a heavy toll on short-term debt, which is the most sensitive to Fed expectations. Two-year notes <US2YT=RR> dropped a hefty 8/32, taking yields to 3.63 percent from 3.49 percent. Interest rates futures <0#ED:> slid as the market priced in a greater risk of higher Fed rates through the year.

That in turn led to a bearish flattening in the yield curve as the spread between two- and 10-year yields narrowed four basis points to 66 basis points. If it closes there, it would be a four-year low.

Treasuries had been pressured right from the start as solid earnings reports helped equities rally a day after the major stock indices <.SPX> hit six-months lows.

Bonds came under further pressure after government data showed claims for jobless benefits dived to 296,000 last week from 332,000 the previous week, far below forecasts of 330,000.

The Labor Department cautioned that the numbers may have been distorted by the earlier-than-usual Easter Holiday. Still, analysts noted this data covered the week of the monthly payrolls survey and could lead to upward revisions in job forecasts for April.

The market was also reminded by a top Fed official that the central bank was not finished raising interest rates. Fed Bank of Cleveland President Sandra Pianalto left no doubt that rates would continue to rise, albeit at a measured pace, until they reached a neutral level that would neither stimulate nor restrain the economy.

She gave no exact target for neutral but put it in a band somewhere between 3.0 percent and 5.0 percent. Many in the market think true neutral lies around the middle of that band, and futures <0#ED:> have priced in rates above 3.75 percent by year-end.

 

[gastronomo]

la cosmicità sta iniziando a tarlarmi il lobo fronto-laterale sinistro :smile: