ber 26Su nday, O ctober 27ay, October 26 Sunday, October 27
ber 26Su Date & Time 04/10/2013 06:00 04/10/2013 13:00 04/10/2013 13:00 04/11/2013 07:30 04/12/2013 07:30 04/12/2013 07:30 04/12/2013 07:30
Event MBA Mortga ge Appl i ca ti ons Monthl y Budget Sta tement FOMC Mi nutes Ini ti a l Jobl es s Cl a i ms Producer Pri ce Index (MoM) Producer Pri ce Index (YoY) PPI Ex Food & Energy (YoY)
Period 5-Apr Ma r
Prior 4% --
6-Apr Ma r Ma r Ma r
385K 0.70% 1.70% 1.70%
• • •
Argentina: Following the Argentinian violation of Pari Passu, a U.S. Appeals court has given creditors until April 22nd to accept the new (recycled 2010) debt swap deal rather than their desired repayment of $1.3B. Extend and pretend… Egypt: The pound has further depreciated and is now at 7.85/dollar. U.S. Dollar reserves are so low that dollar buyers are paying a 17% markup on the black market. North Korea: Escalated threats against the United States and authorized its military to conduct a “smaller, lighter, and diversified nuclear strike.”
nday, O ctober 27ay, October 26 Sunday, October 27
• Li bor Li bor USD 1M Li bor USD 2M Li bor USD 3M Ca s h Ma rkets Fed Funds Ra te Trea s ury Repo O/N Money Ma rkets USD s wa p 2 yr USD s wa p 5 yr USD s wa p 10yr Vol a ti l i ty VIX Index Commodi ti es Gol d Futures Crude Futures Na t Ga s Futures CRB Index (US Spot) Equi ty Indi ces S&P 500 Futures Dow Futures Ri g Counts Ba ker Hughes Ga s Ri gs Ba ker Hughes Oi l Ri gs Ba ker Hughes US Tota l Swa p Ra tes USD Swa p Sprea d 2yr USD Swa p Sprea d 5yr Trea s ury Ra tes US Trea s ury 2 yr US Trea s ury 10 yr
Ken Hogan SVP, Head of FX
La s t Pri ce 0.2003 0.2403 0.2794 La s t Pri ce 0.16 0.13 La s t Pri ce 0.3701 0.8648 1.8694 La s t Pri ce 14.39 La s t Pri ce 1578.8 92.9 4.122 478.08 La s t Pri ce 1543.3 14455 La s t Count 375 1357 1738 La s t Pri ce 14.46 18.51 La s t Pri ce 0.2262 1.6975
5 da y cha nge -0.0034 -0.0027 -0.0032 5 da y cha nge 0.11 -0.04 5 da y cha nge -0.0405 -0.0525 -0.0845 5 da y cha nge 0.74 5 da y cha nge -41 -4.36 -0.089 -1.7 5 da y cha nge -19.4 -42 Previ ous 389 1354 1748 5 da y cha nge 0.77 -0.25 5 da y cha nge -0.0159 -0.1042
Nader Adeeb VP, FX Trading
Bloomberg FXET: CADB SWIFT: CDBKUS44 [email protected] + 713-871-4061 www.cadencebank.com
Crude: Oil supplies hit a 22-year high as the EIA reported U.S. supplies rose by 2.71 mmbbl to 388.6 mmbbl. WTI weakness continued Friday with the largest weekly drop in six months. LNG: Canada is pulling ahead of the U.S. with an LNG terminal being built in Vancouver. It is scheduled to begin shipping to Asia mid-2015 and eight months before the first U.S. plant.
•
• • •
•
Obama: Urged the banking industry to take advantage of taxpayer-backed programs in order to increase home loans to weak credit borrowers. Mortgage Lender in Chief? Employment: ADP reported private employers only added 158K new jobs in March (lowest in five months) while first-time jobless claims spiked by 28,000 to 385K (estimates were at 353K). Unemployment: March payrolls rose by only 88,000 while the survey was 190,000; the smallest gain in nine months. Stock indices immediately traded much lower.
Yen: Kuroda, the new BOJ Governor, announced a doubling of Japan’s monetary base by 2014 via long–term bond purchases. This pushed Japan’s 10-year Treasury yields down to new lows and accelerated JPY depreciation. The Yen traded over 97/USD on Friday, levels not seen since the collapse of Lehman Bros. Notice the rapid Yen depreciation in anticipation of further easing.
Event MBA Mortga ge Appl i ca ti ons Monthl y Budget Sta tement FOMC Mi nutes Ini ti a l Jobl es s Cl a i ms Producer Pri ce Index (MoM) Producer Pri ce Index (YoY) PPI Ex Food & Energy (YoY)
Period 5-Apr Ma r
Prior 4% --
6-Apr Ma r Ma r Ma r
385K 0.70% 1.70% 1.70%
• • •
Argentina: Following the Argentinian violation of Pari Passu, a U.S. Appeals court has given creditors until April 22nd to accept the new (recycled 2010) debt swap deal rather than their desired repayment of $1.3B. Extend and pretend… Egypt: The pound has further depreciated and is now at 7.85/dollar. U.S. Dollar reserves are so low that dollar buyers are paying a 17% markup on the black market. North Korea: Escalated threats against the United States and authorized its military to conduct a “smaller, lighter, and diversified nuclear strike.”
nday, O ctober 27ay, October 26 Sunday, October 27
• Li bor Li bor USD 1M Li bor USD 2M Li bor USD 3M Ca s h Ma rkets Fed Funds Ra te Trea s ury Repo O/N Money Ma rkets USD s wa p 2 yr USD s wa p 5 yr USD s wa p 10yr Vol a ti l i ty VIX Index Commodi ti es Gol d Futures Crude Futures Na t Ga s Futures CRB Index (US Spot) Equi ty Indi ces S&P 500 Futures Dow Futures Ri g Counts Ba ker Hughes Ga s Ri gs Ba ker Hughes Oi l Ri gs Ba ker Hughes US Tota l Swa p Ra tes USD Swa p Sprea d 2yr USD Swa p Sprea d 5yr Trea s ury Ra tes US Trea s ury 2 yr US Trea s ury 10 yr
Ken Hogan SVP, Head of FX
La s t Pri ce 0.2003 0.2403 0.2794 La s t Pri ce 0.16 0.13 La s t Pri ce 0.3701 0.8648 1.8694 La s t Pri ce 14.39 La s t Pri ce 1578.8 92.9 4.122 478.08 La s t Pri ce 1543.3 14455 La s t Count 375 1357 1738 La s t Pri ce 14.46 18.51 La s t Pri ce 0.2262 1.6975
5 da y cha nge -0.0034 -0.0027 -0.0032 5 da y cha nge 0.11 -0.04 5 da y cha nge -0.0405 -0.0525 -0.0845 5 da y cha nge 0.74 5 da y cha nge -41 -4.36 -0.089 -1.7 5 da y cha nge -19.4 -42 Previ ous 389 1354 1748 5 da y cha nge 0.77 -0.25 5 da y cha nge -0.0159 -0.1042
Nader Adeeb VP, FX Trading
Bloomberg FXET: CADB SWIFT: CDBKUS44 [email protected] + 713-871-4061 www.cadencebank.com
Crude: Oil supplies hit a 22-year high as the EIA reported U.S. supplies rose by 2.71 mmbbl to 388.6 mmbbl. WTI weakness continued Friday with the largest weekly drop in six months. LNG: Canada is pulling ahead of the U.S. with an LNG terminal being built in Vancouver. It is scheduled to begin shipping to Asia mid-2015 and eight months before the first U.S. plant.
•
• • •
•
Obama: Urged the banking industry to take advantage of taxpayer-backed programs in order to increase home loans to weak credit borrowers. Mortgage Lender in Chief? Employment: ADP reported private employers only added 158K new jobs in March (lowest in five months) while first-time jobless claims spiked by 28,000 to 385K (estimates were at 353K). Unemployment: March payrolls rose by only 88,000 while the survey was 190,000; the smallest gain in nine months. Stock indices immediately traded much lower.
Yen: Kuroda, the new BOJ Governor, announced a doubling of Japan’s monetary base by 2014 via long–term bond purchases. This pushed Japan’s 10-year Treasury yields down to new lows and accelerated JPY depreciation. The Yen traded over 97/USD on Friday, levels not seen since the collapse of Lehman Bros. Notice the rapid Yen depreciation in anticipation of further easing.
