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April 23, 2007
by Elaine Frei
The Chicago Mercantile Exchange and Lehman Brothers announced on Monday plans to create the first exchange-traded contract based on a broad bond index. The new contract will be based on Lehman’s Aggregate Index, which includes Treasury bonds, as well as government-related, corporate, mortgage-backed, asset-backed, and commercial asset-backed securities. All are dollar-denominated. The CME said that portfolio managers would ...
April 13, 2007
by Elaine Frei
European equities were higher on the session on Friday, with the FTSE Eurofirst 300 up 0.69 percent to 1553. The CAC-40 was 0.7 percent higher to 5789.34 in Paris, while the Xetra Dax gained 0.97 percent to close at 7,212.07 in Frankfurt. The pharmaceuticals and oil sectors saw gains, while carmakers were mixed on the session. The semiconductors ...
by Elaine Frei
Oil prices were slightly lower by mid-afternoon on Friday. May contracts for West Texas Intermediate crude on the New York Mercantile Exchange dropped 25 cents to $63.50 per barrel. May Nymex gasoline was also lower, dropping 3 cents to $2.17 per gallon, while May Nymex heating oil fell 1 cent to $1.90 per gallon. The price ...
April 12, 2007
by Elaine Frei
Global equities markets were mixed on Thursday. Most equities markets in Asia were lower, while in the Pacific region the Sydney Ordinaries were up just slightly, adding 0.11 percent to 6,142.8. In Hong Kong, the Hang Seng index dropped 0.34 percent to 20,380.21, while the Sensex was 0.53 percent lower to 13,113.81 in India. The Straits Times ...
by Elaine Frei
Precious metals prices were mixed on Thursday, with most lower on the session. The exception was June palladium, which added $4.75 to $374.90 per troy ounce after going as high as $377.90 per troy ounce during the day, its highest price since May 2006. Spot palladium traded in a range between $367.50/372.50.
June gold was $2 lower to $679.70 per troy ...
by Elaine Frei
Price on Eurozone government bonds were lower and yields rose after the European Central Bank left rates on hold at 3.75 percent for the time being but sent fairly clear signals that rates would rise again in June. Analysts took that clear indication as a hint that more rate hikes were likely after that. The two-year Schatz added 2 basis ...
by Elaine Frei
The US dollar weakened on Thursday, falling 0.4 percent to ¥118.90 in relation to the Japanese yen and dropping 0.5 percent versus the euro, to $1.3490.
The euro was stronger as the European Central Bank left interest rates steady at 3.75 percent for the time being, but ECB president Jean-Claude Trichet left little doubt in his comments accompanying the announcement that rates ...
April 11, 2007
by Elaine Frei
Equities markets in the Asia and Pacific region were mixed on Wednesday. Both the Sensex in India and the Sydney Ordinaries in Australia dropped 0.05 percent on the session, to 13,183.24 and 6,136.1 respectively. The Straits Times index in Singapore was 0.16 percent higher to 3,420.62, while the Hang Seng index in Hong Kong added 0.5 percent to 20,449.43.
In Tokyo, ...
by Elaine Frei
Crude oil prices rose after the US Energy Information Administration released its newest figures on inventories on Wednesday. The data shows that crude oil supplies were 700,000 barrels higher in the week ending April 6, to a total of 333.4 million barrels in storage. Distillates stockpiles also rose during the week, by 100,000 barrels to 118.1 million barrels. ...
by Elaine Frei
Sterling was stronger on Wednesday morning after reports in the press that Treasury is considering allowing multinational companies based in the UK to repatriate their foreign profits without having to pay any taxes on them.
In late morning trade in London, the UK currency had added 0.3 percent to $1.9776 in relation to the US dollar, while it was 0.4 percent higher to ...
April 10, 2007
by Elaine Frei
The Asia and Pacific markets were mixed on Tuesday, with most markets higher but Tokyo seeing declines. In India, the Sensex added 0.09 percent to 13,189.54. The Singapore Straits Times index was 0.67 percent to 3,422.62, while the Hang Seng index gained 0.68 percent to 20,347.87 in Hong Kong. In Australia, the Sydney Ordinaries added 1.25 percent to ...
by Elaine Frei
Crude oil prices were higher on Tuesday ahead of Wednesday’s release of the most recent US inventories report, which is expected to show that gasoline stockpiles declined again last week. In addition, new data showed that demand is growing in China, where imports were up by 8.9 percent in March compared to the same time last year. Oil imports into China ...
by Elaine Frei
The US dollar weakened on Tuesday as tensions grew between the United States and China after US complaints to the World Trade Organization over what the US sees as China’s failure to protect intellectual property rights. The US also registered complaints concerning restrictions China puts on the sale of foreign books and films there. China warned that the US complaints will ...
by Elaine Frei
With heightened demand from investors from Europe and Japan who were looking for bargain buys, US Treasury bonds saw prices rise and yields fall on Tuesday. At late morning in New York, the two-year Treasury bond had dropped 4 basis points to a yield of 4.692 percent. The ten-year issues, meanwhile, were down 3 basis points to 4.716 percent.
Yields were slightly ...
April 9, 2007
by Elaine Frei
In Asia on Monday the markets that were open saw significant gains on the session. In Singapore, the Straits Times index was 1.57 percent higher to 3,400. Meanwhile in India, the Sensex gained 2.5 percent to 13,177.74.
In Tokyo, the Nikkei 225 added 1.5 percent to 17,743.76, while the Topix index gained 1.2 percent to 1,738.1. The gains came after ...
by Elaine Frei
The price of West Texas Intermediate crude was lower on Monday, dropping by $1.03 to $63.25 per barrel in midday trade on the New York Mercantile Exchange.
The price of Nymex heating oil held steady at $1.86 per gallon, while Nymex gasoline was up 1 cent to $2.11 per gallon. Natural gas gained 5 cents to $7.66 per million British ...
by Elaine Frei
Yields were up on US Treasury bonds on Monday as sell offs Friday morning continued after the holiday weekend. The selling was triggered by new Labor Department data showing that more jobs had been created than had been anticipated in March, sending the unemployment rate down to 4.4 percent during the month and raising fears that not only would the Federal ...
by Elaine Frei
With most European markets still closed for the Easter holiday and little new economic news in the United States, the US dollar was neither gaining nor losing much in Monday morning currency trade.
The next important piece of economic news that could affect the dollar will come on Wednesday, with the release of the minutes from the March meeting of the US ...
April 5, 2007
by Elaine Frei
Equities markets in the Asia and Pacific region were mixed on Thursday, with the Australian and Tokyo markets mostly lower on the session but just about everyone else higher. In Singapore, the Straits Times Index added 0.39 percent to 3,345.86, while the Sensex gained 0.54 percent to 12,856.08 in India. In Australia, though, the Sydney Ordinaries dropped 0.26 ...
by Elaine Frei
Precious metals prices were mostly higher at mid-morning in New York on Thursday. June gold was $2.10 higher to $679.50 per troy ounce after trading in a range between $676.60 and $681.00 per troy ounce. Spot gold was at $673.90/$674.40 per troy ounce, a slight gain over Wednesday. The afternoon fix in London stood at $673.50 per troy ounce.
May ...
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