Closure For The Markets And Thus

(Reuters) - World equity markets rose for a second consecutive day on Tuesday on hopes European leaders will tackle the region's debt crisis, but the euro fell on doubts that much would come of a meeting just a day away. European shares gained almost 2 percent on optimism European leaders may devise new measures to foster growth in the euro zone and restore a doubtful market's confidence. An informal summit of European Union leaders late on Wednesday is expected to discuss the idea of regional bonds jointly underwritten by all euro zone member states. However, Germany's long-standing opposition is unlikely to change; the country has dismissed the French-led call for the euro zone to issue common bonds. "The string of summit meetings that have been called to address the euro crisis thus ...

Sunrise Market Commentary - Fixed Income: Core bonds hit by profit taking, non-core bonds gain - Risk aversion ebbed away following Monday's rout, leading to some modest profit taking in core bonds. Non-core bonds did well and yield spreads versus Germany narrowed. Spain and the Netherlands outperformed yesterday. Investors will stay largely sideways today, ahead of this evening's FOMC statement and press conference of Mr. Bernanke. - Currencies: Euro slightly higher as tensions ease - On Tuesday, most markets saw a setback on Monday's sharp sell-off in risky assets. In this move, EUR/USD returned to the 1.32 area, but a technically significant break didn't occur. EUR/GBP came near the 0.8143 August 2010 low. Today, the focus of currency trading will be on the Fed. The ...

Sunrise Market Commentary Fixed Income: core bonds remain near contract highs Global core bonds reversed Tuesday's losses in a rather uneventful session. Today, all attention will go to the Spanish bond auction. A weak auction two weeks ago put pressure on Spanish yields since. The 10-yr yield flirts with the psychological 6% mark. In order to avoid more tensions, failure today is not an option. Currencies Sterling leaps higher on less dovish BoE Minutes While EUR/USD trading was rather uneventful, sterling was the star performer. Helped by less dovish BoE Minutes and a stronger labour market report, sterling shot higher pushing EUR/GBP below key support and GBP/USD above 1.60. The Sunrise Headlines US Equities dropped slightly lower on Wednesday, giving back part of ...

Weekly Economic and Financial Commentary : 30/03/2012 U.S. Review Mixed Signals Housing data released this week were a bit disappointing but also offered some signs of optimism. Pending home sales fell in February but remained near a one-year high. The decline in the S&P Case-Shiller Home Price Index in January was the smallest since July, although the index did reach a new cyclical low. Personal spending rose in February by the most since July, as consumers dipped into savings to spend more on services. However, consumer confidence slipped in March due to a decline in the expectations index amid rising gas prices, although purchase plans improved. Mixed Signals Housing data released this week were slightly disappointing but also provided some signs of optimism. Pending home ...

Weekly Economic and Financial Commentary U.S. Review Housing Indicators Pulled Back, but Don't Be Alarmed This week, the economic calendar was chock-full of housing market data. While housing indicators painted somewhat of a mixed picture, with nearly all housing market indicators unexpectedly declining on the month, we continue to see real improvement. That said, much of the pullback was due to the mild winter, which likely exacerbated the seasonal adjustment process. Housing starts unexpectedly fell 1.1 percent to a 698,000-unit pace in February. January starts, however, were upwardly revised to a 706,000-unit pace, the highest level since October 2008. Housing Indicators Pulled back, but Don't Be Alarmed This week the economic calendar was chock-full of housing market data. ...

Weekly Economic and Financial Commentary : 25/02/2012 U.S. Review Housing Market Recovery: A Regional Story This week, data on the housing market pointed to some slight firming. Although new home sales edged down 0.9 percent, existing home sales were up 4.3 percent. Even with the somewhat better housing data this week, concerns remain about the backlog of foreclosures and their effect on the market. Initial jobless claims continued to trend downward last week declining to 351K. The four-week moving average, the best indicator of the trend, also dropped to 359K suggesting sustained declines in layoffs. Jobless Filings Point to Fewer Layoffs The focus of this week's data was on the housing market with the release of existing home sales and new home sales. The housing data ...

The Weekly Bottom Line : 11/02/2012 HIGHLIGHTS OF THE WEEK United States Negotiations between Greece and its international lenders kept financial markets switching the risk button on and off throughout the week. A parliament vote on further austerity measures has been scheduled for Sunday; if it fails, Greece could default in March. In the U.S. initial jobless claims declined, bringing total claims down to levels not seen since September 2008. A $25 billion deal between the White House and five leading commercial lenders was announced on Thursday. It will help underwater homeowners to refinance their loans. It is a positive step, but arguably one with limited macroeconomic impact. Canada Canada's trade surplus more than doubled in December, on the back of a sharp 4.9% ...

Weekly Economic and Financial Commentary U.S. Review The Story of Moderate Growth Continues To Unfold Personal income figures for November indicated that personal income rose a meager 0.1 percent. Personal spending rose slightly for the month supported in part by consumers choosing to save less. Housing starts came in better than expected in November as unusually warm weather and possible seasonal adjustment factors helped to boost the headline number. The final estimate of third quarter GDP indicated that the economy grew at a 1.8 percent pace in the that quarter on news that healthcare consumption fell. Stronger Home Building Activity Supports Q4 Growth The majority of economic indicators focused on the housing market this week with the release of housing starts and ...

Weekly Economic and Financial Commentary : 02/12/2011 U.S. Review Moderate Improvement in Economic Data The November employment report showed a big drop in the unemployment rate. However, the overall pace of job growth remains constrained. Housing market data this week indicated that new home sales rose modestly in October, while home prices continued their downward trajectory. The latest read on manufacturing sentiment from the ISM-manufacturing survey indicated that output continued to expand at a moderate pace despite the ongoing European debt crisis. Data Supports Stronger Growth in Q4 This week's data continued to reinforce our view for stronger fourth-quarter economic growth. The housing market data showed sales and new home construction have bottomed, while the ISM- ...