7:29 AM The euro gives up its moderate gains after a meeting breaks up between Greek officials and private bondholders without a deal being made on a debt swap, according to a banker involved. Negotiations will continue. Euro flat at $1.3197
7:55 AM The EFSF sells €1.97B in 3 month paper priced to yield 0.22%, with a bid/cover ratio of 3.2, according to the Bundesbank. The supposedly good news is being offered as a reason for the bounce in European shares and peripheral debt this morning. It was little more than a month ago that the EFSF hoped to have €1T in firepower.
7:55 AM The EFSF sells €1.97B in 3 month paper priced to yield 0.22%, with a bid/cover ratio of 3.2, according to the Bundesbank. The supposedly good news is being offered as a reason for the bounce in European shares and peripheral debt this morning. It was little more than a month ago that the EFSF hoped to have €1T in firepower.
12:32 PM It used to that 10-year Treasurys would never fall through 3%. Now, with the yield straddling 2% for weeks
1:13 PM Amid end-of-year lower volumes, Treasury's reverse their losses as the 10-year auction comes in strong with a huge indirect bid (the group including global central banks). The 30-year yield -0.03 to 3.03%; 10-year sinks below 2%, -0.03 to 1.99%. Maybe you shouldn't count on 10-years cresting 3% anytime soon.
2:20 PM Detail from the FOMC: "Notwithstanding some apparent slowing" globally, the U.S. economy has been expanding moderately. Household spending advancing, but business fixed investment growing "less rapidly." Inflation has moderated since earlier this year. As always lately, panel stands "prepared to employ its tools" to promote recovery.
Should continue to see more downside, by Friday as the ECB President will be speaking for Thurs and Fri market sessions.
1:13 PM Amid end-of-year lower volumes, Treasury's reverse their losses as the 10-year auction comes in strong with a huge indirect bid (the group including global central banks). The 30-year yield -0.03 to 3.03%; 10-year sinks below 2%, -0.03 to 1.99%. Maybe you shouldn't count on 10-years cresting 3% anytime soon.
2:20 PM Detail from the FOMC: "Notwithstanding some apparent slowing" globally, the U.S. economy has been expanding moderately. Household spending advancing, but business fixed investment growing "less rapidly." Inflation has moderated since earlier this year. As always lately, panel stands "prepared to employ its tools" to promote recovery.
Should continue to see more downside, by Friday as the ECB President will be speaking for Thurs and Fri market sessions.
