Bund e diavolerie varie: LO SPIACCICAMENTO in diretta!!!!
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gastronomo
Forumer storico
Treasuries fall as rate threat clouds solid sale
Wed Oct 12, 2005 01:57 PM ET
(Adds auction details, market reaction, analyst comments, updates prices)
By Pedro Nicolaci da Costa
NEW YORK, Oct 12 (Reuters) - U.S. Treasury debt prices skidded on Wednesday as the market's failure to bounce after a solid auction of five-year notes encouraged bears to step in and ramp up selling.
The market had already been drifting lower for much of the session, for no real reason other than the persistent and nagging realization that the Federal Reserve intends to continue bumping rates higher for the foreseeable future.
The auction offered temporary relief to an otherwise downbeat market, but not sufficiently to take bonds into positive territory.
Benchmark 10-year notes (US10YT=RR: Quote, Profile, Research) retreated 11/32 for a yield of 4.44 percent, up from 4.40 percent on Tuesday. Bears appeared to be testing a six-month high of 4.45 percent hit on Friday.
The $13 billion in new five-year notes sold at a high yield of 4.270 percent and garnered 2.75 bids per dollar of debt on offer. That was above an average 2.6 for 2004 and the highest since last November.
"It was a solid auction," said Alan De Rose, a trader at CIBC World Markets. "But the market has got this inflation overhang, whether it's related to Fed speak or whether prices will actually get a real foothold is the big question."
Indirect bidders, which include customers of primary dealers and foreign central banks, took home 45.5 percent, or $5.92 billion, of the sale, above last year's average of 43.5 percent but below the 55 percent seen in September.
That left primary dealers with a manageable $5.06 billion, or 38.9 percent, of the deal.
Fresh debt notwithstanding, Treasuries were suffering the brunt of a slow but continuous slump that took benchmark yields to six-month highs and two-year yields to their highest in over four years.
The market's retreat has been based primarily on a steady drumbeat of warnings from Fed officials that monetary policy was not yet sufficiently tight to prevent inflation from ticking higher.
Fed Chief Alan Greenspan failed to shed any light on the matter in a speech to the Italian-American Association on Wednesday, saying only in vague terms that the U.S. economy's flexibility had enhanced stability.
But coupled with data showing that the national economic impact of Hurricane Katrina has been more subdued than many analysts had predicted, the recent Fed chorus has consistently jawboned yields higher across the curve.
The trend extended into Wednesday, with the 30-year bond (US30YT=RR: Quote, Profile, Research) losing 26/32 for a yield of 4.65 percent, up from 4.60 percent on Tuesday.
Two-year note yields (US2YT=RR: Quote, Profile, Research) inched up to 4.23 percent from 4.22 percent, while existing five-year notes (US5YT=RR: Quote, Profile, Research) dipped 5/32 and were yielding 4.31 percent.
The market would remain vulnerable as the end of the week approached, analysts said, particularly with Friday's consumer prices report expected to reveal yet another month of steady price gains.
Forecasts were for a 0.9 percent jump in the overall consumer price index for September, almost double August's gain. Even more troubling for bonds, core inflation was expected to rise 0.2 percent after a 0.1 percent increase in August.
Another stripped-down inflation measure favored by the Fed, the core PCE, was already knocking up against the central bank's presumed comfort zone between 1-2 percent.
© Reuters 2005. All Rights Reserved.
Wed Oct 12, 2005 01:57 PM ET
(Adds auction details, market reaction, analyst comments, updates prices)
By Pedro Nicolaci da Costa
NEW YORK, Oct 12 (Reuters) - U.S. Treasury debt prices skidded on Wednesday as the market's failure to bounce after a solid auction of five-year notes encouraged bears to step in and ramp up selling.
The market had already been drifting lower for much of the session, for no real reason other than the persistent and nagging realization that the Federal Reserve intends to continue bumping rates higher for the foreseeable future.
The auction offered temporary relief to an otherwise downbeat market, but not sufficiently to take bonds into positive territory.
Benchmark 10-year notes (US10YT=RR: Quote, Profile, Research) retreated 11/32 for a yield of 4.44 percent, up from 4.40 percent on Tuesday. Bears appeared to be testing a six-month high of 4.45 percent hit on Friday.
The $13 billion in new five-year notes sold at a high yield of 4.270 percent and garnered 2.75 bids per dollar of debt on offer. That was above an average 2.6 for 2004 and the highest since last November.
"It was a solid auction," said Alan De Rose, a trader at CIBC World Markets. "But the market has got this inflation overhang, whether it's related to Fed speak or whether prices will actually get a real foothold is the big question."
Indirect bidders, which include customers of primary dealers and foreign central banks, took home 45.5 percent, or $5.92 billion, of the sale, above last year's average of 43.5 percent but below the 55 percent seen in September.
That left primary dealers with a manageable $5.06 billion, or 38.9 percent, of the deal.
Fresh debt notwithstanding, Treasuries were suffering the brunt of a slow but continuous slump that took benchmark yields to six-month highs and two-year yields to their highest in over four years.
The market's retreat has been based primarily on a steady drumbeat of warnings from Fed officials that monetary policy was not yet sufficiently tight to prevent inflation from ticking higher.
Fed Chief Alan Greenspan failed to shed any light on the matter in a speech to the Italian-American Association on Wednesday, saying only in vague terms that the U.S. economy's flexibility had enhanced stability.
But coupled with data showing that the national economic impact of Hurricane Katrina has been more subdued than many analysts had predicted, the recent Fed chorus has consistently jawboned yields higher across the curve.
The trend extended into Wednesday, with the 30-year bond (US30YT=RR: Quote, Profile, Research) losing 26/32 for a yield of 4.65 percent, up from 4.60 percent on Tuesday.
Two-year note yields (US2YT=RR: Quote, Profile, Research) inched up to 4.23 percent from 4.22 percent, while existing five-year notes (US5YT=RR: Quote, Profile, Research) dipped 5/32 and were yielding 4.31 percent.
The market would remain vulnerable as the end of the week approached, analysts said, particularly with Friday's consumer prices report expected to reveal yet another month of steady price gains.
Forecasts were for a 0.9 percent jump in the overall consumer price index for September, almost double August's gain. Even more troubling for bonds, core inflation was expected to rise 0.2 percent after a 0.1 percent increase in August.
Another stripped-down inflation measure favored by the Fed, the core PCE, was already knocking up against the central bank's presumed comfort zone between 1-2 percent.
© Reuters 2005. All Rights Reserved.
gastronomo
Forumer storico
Vuol dire che l'asta ha riscosso molto interesse, peccato poi sia collassato il mercato 
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Fleursdumal
फूल की बुराई
Bonjour a tout les bondaroles
un finesettimana con ciubebba e si riparte col crollo dei bonds 
ciube me lo prenoto io sabato così diamo il colpo di grazia :smile:
:smile:
c'è un gappaccio però che frena gli entusiasmi
a quanto pare c'è chi vede un rialzo di 0,50 del nonnetto alla prossima
un finesettimana con ciubebba e si riparte col crollo dei bonds
ciube me lo prenoto io sabato così diamo il colpo di grazia :smile:
:smile:c'è un gappaccio però che frena gli entusiasmi
a quanto pare c'è chi vede un rialzo di 0,50 del nonnetto alla prossima
Fleursdumal
फूल की बुराई
f4f ha scritto:sono alle resistenze di lungo un poco tutti
certo che la perdurante assenza di Lupin ha un chiaro valore di indicatore short :smile:
se si va sotto anche oggi, potrebbe iniziare un bell'ottovolante
33000 è il numero perfetto per lo S&Pmerd come i 113,5 del fu T-Bonds
arsenio a quanto pare ha problemi di famiglia , forse dan può dirci qualcosa in più
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