LATAM: Week Ahead: Brazil Q4 GDP, Chile/Colombia/Peru CPI Inflation
Feb-27 17:19
Download Full Report Here: https://media.marketnews.com/Latam_Week_Ahead020326_d40d9b43b0.pdf Our L...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US STOCKS: Midday Equities Roundup: Strong Seagate Earnings Buoys IT Sector
Jan-28 17:14
- Stocks are trading near steady to mildly higher Wednesday, SPX eminis marking a new all-time high (7,043.00) despite ongoing geopolitical tensions (Pres Trump threat to Iran regarding the "massive Armada" heading towards the country: "Next Attack Will Be Far Worse"), not to mention domestic tensions over DHS protests and chance of another US Gov shutdown tied to appropriations for said department.
- Some nascent support could be tied to Tsy Sec Bessent walking back comments made by the Pres late Tuesday over the US$ falling to new multi-year lows, "says Trump administration is still pursuing ‘strong dollar policy’", FI.
- Currently, the DJIA is up 44.78 points (0.09%) at 49047.38, S&P E-Mini Futures down 3.25 points (-0.05%) at 7005, Nasdaq up 9.5 points (0%) at 23826.63.
- Information Technology sector shares led advances in the first half, Seagate Technology shares surged over 19% after beating Q2 expectations, while Intel +11.50%, Western Digital +10.12%, Texas Instruments +8.00% and Sandisk Corp +7.61%.
- Carry-over weakness in pharmaceutical stocks weighed on the Health Care sector: Humana -5.93%, HCA Healthcare -4.42%, Bio-Techne -2.84%, Danaher -2.81% and Incyte -2.59%.
- Reminder, earnings expected after today's close include: Whirlpool Corp, Raymond James Financial, United Rentals, Meta Platforms, Microsoft Corp, Tesla Inc, IBM, Waste Management and Lam Research Corp.
SECURITY: Rubio Says US Military Build Up In Middle East Is Defensive
Jan-28 17:14
US Secretary of State Marco Rubio has delivered additional remarks on Iran during his testimony to the Senate Foreign Relations Committee.
- Asked the next steps Supreme Leader Ali Khamenei was removed, Rubio says, “I don't think anyone can give you a simple answer... other than the hope that there would be some ability to have somebody within their systems, that you could work towards a similar transition [to Venezuela]."
- Rubio notes, “I would imagine it would be even far more complex than [Venezuela], because you're talking about a regime that's in place for a very long time... So that's going to require a lot of careful thinking, if that eventuality ever presents itself.
- Rubio says on the US military buildup, “We have 30-40,000 American troops stationed across eight or nine facilities in that region. All are within the reach [of Iranian UAVs and short-range ballistic missiles]."
- Rubio says, “The President always reserves the preemptive defensive option. In essence, if we have indications that, in fact, they're going to attack our troops in the region, to defend our personnel in the region. We also have security agreements, the defence of Israel plan, and others that require us to have a force posture in the region to defend against that."
- Rubio stresses, “I hope it doesn't come to that, but that's what I think what you're seeing now is the ability to posture assets in the region to defend against what could be an Iranian threat against our personnel.”
BONDS: EGBs-GILTS CASH CLOSE: Gilts Lag Bunds As ECB Eyes FX Impact
Jan-28 17:13
Gilts underperformed Bunds Wednesday amid speculation that continued Euro strength could tilt the ECB toward pursuing easier policy than it otherwise would have.
- The German curve bull steepened early following dovishly-perceived commentary from ECB’s Kocher and Villeroy. Kocher suggested to the FT that continued EUR appreciation could create “a certain necessity to react in terms of monetary policy” (though said the "modest" move so far doesn't necessitate a response). Villeroy similarly noted that the exchange rate was one factor guiding policy.
- Gilts failed to participate in EGB gains, mirroring a downside move in Treasuries, though would ultimately stabilize toward the cash close as equities and oil pulled back.
- In a limited data slate, Italy's business confidence index increased further in January for a fifth consecutive rise.
- The German curve closed bull steeper, with the UK's twist steepening. Periphery/semi-core EGB spreads closed a little wider.
- The Federal Reserve decision will dominate attention after the European cash close. While we get Eurozone confidence data Thursday, The data highlight of the week remains Eurozone inflation - Germany and Spain are scheduled to release data on Friday. MNI's preview is here.
Closing Yields / 10-Yr EGB Spreads To Germany
- Germany: The 2-Yr yield is down 2.9bps at 2.1%, 5-Yr is down 2.7bps at 2.441%, 10-Yr is down 1.8bps at 2.857%, and 30-Yr is unchanged at 3.494%.
- UK: The 2-Yr yield is down 0.1bps at 3.742%, 5-Yr is up 0.2bps at 3.989%, 10-Yr is up 1.9bps at 4.544%, and 30-Yr is up 2.6bps at 5.296%.
- Italian BTP spread up 1.5bps at 60.9bps / French OAT up 0.3bps at 57bps
