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Analysis: Q1 bank results face great expectations
(Reuters) - Bank executives face great expectations from investors when they report first-quarter results beginning Friday.
Bank stocks have shot up 24 percent this year, as measured by the KBW Banks index, in their steepest ascent in any quarter since the end of September 2009.
Now investors want to know if they should stick with their bets that the economy will strengthen and lift bank lending margins and profits, or take their gains and get out.
"Investors are out on a limb," said Jack Ablin, chief investment officer at Harris Private Bank.
They won't get much help from the earnings, which are expected to be murky this quarter and confused by accounting items. Investors may have to rely on their own hunches to sort conflicting numbers and comments from bank executives about the ...
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Mixed jobs report for the superpower …
Once again it is crystal clear that the nation's major obstruction; the labor market, is continuing on healing as shown throughout overall past labor data released to have actually the depressed housing sector becoming the main obstacle that the economy is facing nowadays as attested by the FOMC members just recently, yet today's job's report came out mixed as fewer employees were added this past month.
Although some of the data released this week regarding the services activities and labor conditions did not come inline with the market forecasts it is clear that the recovery of the world's leading economy is on the right gradual track as attested by the FOMC members throughout their March 13th minutes meeting and as an overall the business along with the labor conditions of the country ...
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Japan's GPIF pension fund: unlikely to see JGB yields surge
Japan's $1.3 trillion Government Pension Investment Fund, the world's biggest public pension, said yields on Japanese government bonds are unlikely to surge for a while as there is plenty of demand from cash rich domestic banks.
Takahiro Mitani, chairman of the GPIF, said the environment for JGBs will remain favorable for some time as the country stays in a deflationary phase and it may take a lot of time for the economy to grow more than 1 percent sustainably.
"I don't think (JGB yields) will fall sharply from the current level. They are near their lows, but the yields are not expected to surge from here," Mitani told Reuters in an interview on Friday.
However, there is a risk for JGBs if the government fails to implement its plans to raise the consumption tax, he said.
The GPIF ...
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SunBirdFX Daily Market Analysis : 04/06/2012
www.sunbirdfx.com
The US stock markets closed the short trading week in mixed territory as NASDAQ rose 0.56% thanks to Apple that keeps setting new highs every day. Many financial institutes around the world are closed today and therefore the market could trade in narrow range and low volatility. However, the investors will look forwards to the Non-Farm payroll change data, which its influence on the markets we will probably see just on the beginning of the next week.
AUD/USD
The central bank of Australia caused sharp declines after the rate statement on Tuesday and the Aussie resumed sliding after it looked like it was about to make the bullish reversal on the beginning of the week. The pair is sliding through a downtrend channel and yesterday it reached the lower boundary of the ...
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Copper little changed; restrained ahead of holiday
Copper steadied on Thursday following a 3 percent loss the prior session, helped by consumer buying and stabilizing appetite for risk, but any gain was expected to be limited ahead of the long Easter weekend in U.S. and European markets.
Three-month copper on the London Metal Exchange traded at $8,335.25 a metric ton at 0930 GMT, down by 0.2 percent from a close of $8,350 a metric ton on Wednesday.
Copper this week rallied to within 1 percent of 2012 peaks above $8,700 a metric ton on anticipation of fresh easing by the world's biggest economy, before minutes from a U.S. monetary policy meeting on Tuesday quashed those expectations and led to a divestment of risk across markets.
Prices have been caught in a sideways range since late January, buttressed by consumer buying around $8,200 a ...
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Copper falls as U.S. stimulus less likely, risk cut
(Reuters) - Copper fell to a one-week low on Wednesday, retreating from its highest levels since February as disappointment over the U.S. Federal Reserve's retreat from another round of monetary stimulus seeped through financial markets, while traders pared back risk ahead of the Easter break.
Three-month copper on the London Metal Exchange fell 3.1 percent to close at $8,350 a tonne from $8,615 on Tuesday, when it rallied to a near two month high above $8,700 a tonne.
"The dimmed prospects for U.S. easing seem to be the main driver, also via the dollar, so we've seen some liquidation come through on copper today," analyst Robin Bhar of Societe Generale said.
Minutes from the Fed's March meet showed less support for more easing, or bond-buying, in the face of improved economic data, ...
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Global Stocks, euro fall on less hope of Fed help, Spanish auction
(Reuters) - Global stocks dropped more than 1 percent and the euro fell to a 3-week low against the dollar on Wednesday a day after U.S. central bank meeting minutes dented hopes for more economic stimulus and a Spanish debt auction drew weak results.
Gold prices hit their lowest since early January, while U.S. bonds rallied as losses in the stock market enhanced the bid for safe-haven U.S. government debt.
Comments from European Central Bank President Mario Draghi that the euro zone's economic outlook is subject to downside risks related to the debt crisis and commodity prices further weighed on the euro, as well as gold.
Draghi's comments came in a news conference after the ECB announced it was holding interest rates at record lows, as widely expected.
The Federal Reserve's minutes ...
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Stocks sink on euro zone, fading Fed stimulus odds
(Reuters) - Stocks dropped on Wednesday for the second consecutive session as minutes from the latest Federal Reserve meeting published Tuesday suggested further monetary stimulus was unlikely and a disappointing Spanish debt auction reawakened euro zone concerns.
Spanish borrowing costs jumped at bond auctions, sparking worry about a recurrence of a euro zone debt crisis and highlighting recession worries in the region.
The PHLX Europe sector index .XEX lost 3 percent.
Two Long-Term Refinancing Operations launched by the European Central Bank had helped push euro zone fears to the background and enabled investors to focused on improving domestic data and a supportive monetary policy from the Fed, sending the S&P up more than 27 percent from its October low.
"The Spanish bond auction ...
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U.S services activities expansion slowed down in March
Today we watch the world's leading economy services activities continue on expanding but at a slower pace this past month, which was actually not predicted by the market which had actually forecasted a only a slight higher expansion of these activities, yet as an overall today's data confirms once again that business conditions keep on supporting the growth of the country.
In fact the ISM services of last month; a composite diffusion index regarding the services sector conditions across the United States, which was highly forecasted to come out at around 56.8 came out instead at 56.0 from 57.3 in February; a faintly lower reading but still above a reading of 50 and therefore indicates a steady and cheerful expansion of these services activities across the nation.
Now this continuous ...
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