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14:10
04/09/18
04/09
14:10
04/09/18
14:10

Treasury Action: yields remain moderately higher

Treasury Action: yields remain moderately higher as risk-on flows into equities help the bond market set up for this week's $64 B in coupon actions. The wi 3-year note is up 2 bps to 2.435%, with the 10-year 3 bps higher at 2.805%, with the bond up 1.5 bps to 3.040% (the 10s and 30s will be reopenings). These would be some of the cheapest award rates in years. Indeed, the 2.436% on the March 3-year was the highest since May 2007. For the 10-year, the last two award rates have been over 2.80%, a handle which had not been topped since January 2014. And for the bond, the history is not that long given the March and February award rates both topped 3.1%, though with a 3-handle for the first time since May 2017. While almost all of the March auction results were above average, they were only modestly so, and bid covers and indirect bidding have clearly dropped off since mid- to late 2016. The surge in equities since the presidential election and the shift out of safe-haven Treasuries, along with the FOMC's normalization posture, have made for relatively lackluster auctions. Additionally, expectations for more rate hikes, as well as increased supply, have also weighed on demand.

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SBNY

Signature Bank

$135.08

-1.99 (-1.45%)

05:52
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Signature Bank reports Q1 EPS ex-items $2.69, consensus $2.67 »

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SCCO

Southern Copper

$57.33

0.745 (1.32%)

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FOXA

21st Century Fox

$37.32

-0.22 (-0.59%)

, DIS

Disney

$101.21

-1 (-0.98%)

05:49
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21st Century Fox rejected rival bid of $34.41 per share for assets »

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FOXA

21st Century Fox

$37.32

-0.22 (-0.59%)

DIS

Disney

$101.21

-1 (-0.98%)

CMCSA

Comcast

$33.28

0.02 (0.06%)

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NTRS

Northern Trust

$106.38

-0.04 (-0.04%)

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Northern Trust enters partnership with The Northern Pool »

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NVS

Novartis

$81.72

-0.09 (-0.11%)

, AMGN

Amgen

$175.14

0.19 (0.11%)

05:36
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Novartis appoints John Tsai as Chief Medical Officer, Head of GDD »

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Novartis

$81.72

-0.09 (-0.11%)

AMGN

Amgen

$175.14

0.19 (0.11%)

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AMZN

Amazon.com

$1,527.24

23.92 (1.59%)

05:36
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Amazon.com analyst commentary  »

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:34
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Earnings
Novartis confirms FY18 revenue guidance of growth of low to mid single-digit »

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:34
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Novartis reports Q1 Alcon sales of $1.8B »

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RDN

Radian Group

$15.36

-0.91 (-5.59%)

05:30
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Radian Group analyst commentary  »

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  • 26

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:29
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Novartis Q1 results continue to demonstrate benefit from turnaround plan actions »

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MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

05:29
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ESNT

Essent Group

$34.83

-2.045 (-5.55%)

, MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

05:28
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ESNT

Essent Group

$34.83

-2.045 (-5.55%)

MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

RDN

Radian Group

$15.36

-0.91 (-5.59%)

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:27
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Novartis reports Q1 Sandoz net sales of $2.5B »

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:25
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Earnings
Novartis reports Q1 core EPS $1.28, consensus $1.29 »

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PG

Procter & Gamble

$78.19

-0.23 (-0.29%)

, TEVA

Teva

$17.91

0.065 (0.36%)

05:23
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Procter & Gamble acquires Consumer Health business of Merck KGaA for EUR 3.4B »

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PG

Procter & Gamble

$78.19

-0.23 (-0.29%)

TEVA

Teva

$17.91

0.065 (0.36%)

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GOL

GOL Linhas

$13.51

0.72 (5.63%)

05:22
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PG

Procter & Gamble

$78.19

-0.23 (-0.29%)

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Breaking Hot Stocks news story on Procter & Gamble »

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LN

Line Corp.

$38.30

0.09 (0.24%)

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AAPL

Apple

$177.84

-0.41 (-0.23%)

05:16
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Apple analyst commentary  »

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  • 01

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SNBR

Sleep Number

$36.58

-0.35 (-0.95%)

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NOV

National Oilwell

$38.32

0.73 (1.94%)

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PTEN

Patterson-UTI

$20.61

0.41 (2.03%)

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ACET

Aceto

$7.40

0.04 (0.54%)

05:12
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HSBC

HSBC

$48.58

-0.275 (-0.56%)

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LBTYA

Liberty Global

$32.08

0.54 (1.71%)

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