Results of the US 2-year sale More bonds? Or more for the Fed to buy? Even with all the improvement in risk tone, US Treasury yields are still just off the virus low of 0.10%.
Blogs
JPMorgan Dimon: Hope economy starts to recover in 3Q after weak 2Q
Speaks at Deutsche Bank conference Hope from Jamie Dimon. See here for global coronavirus case data
GBPUSD reaches key 1.2350 level
GBPUSD target reached Interested in trading the GBP? to learn more. See here for global coronavirus case data
Merck CEO casts doubt on timeline for coronavirus vaccine
FT report The CEO of pharma giant Merck says the purported timelines for a coronavirus vaccine is 'very aggressive'. He said 12-18 months isn't something he thinks is feasible.
WTI crude falls $1 from the highs
Crude gives back some gains WTI crude is still up 48-cents on the day to $33.70 but it had traded as high has $34.81. That could be a warning sign for the broader market and for the high-flying Canadian dollar, which is near the best levels of the day.
Dallas Fed May manufacturing index -49.2 vs -62.0 expected
Dallas Fed manufacturing index See here for global coronavirus case data
US May consumer confidence 86.6 vs 87.0 expected
US May consumer confidence data from The Conference Board That's a disappointment. With the rebound in stock markets and optimism about re-opening, I thought we could see a beat on this survey but that wasn't the case. There's clearly some optimism about the future but from April to May, I would have envisioned more.
New home sales for April 623K vs. 480K estimate
New home sales for April 2020 Needless to say the number is a big surprise given expectations. However it did not come without big discounts from the builders to attract the buyers. If the economy is to rebound, we should see a run back higher in prices next month.
Audio recap: Currencies up against the buck, pound outperforms
What's moving markets today Markets have been feeling optimistic into Tuesday, with the broad price action resulting in higher stocks and a lower US Dollar. Escalating trade tension between the US and China hasn't been a bother, and it seems a lot of this has to do with a better recovery outlook as the coronavirus […]
US stocks set to soar at the open
S&P 500 futures up more than 2% It's going to be a big day for US stocks, at least at the open. The long weekend has been good to the US mood with S&P 500 futures up 2.1%. Futures point to a 66 point gain at the open after Friday's 7 point gain.