News Results

  1. BULLET: US DATA: Jun Paychex-IHS Small Business Jobs Index...
    Market News Intl Fixed Income Bullets | 08:33 AM EDT

    US DATA: Jun Paychex-IHS Small Business Jobs Index -0.03% to 100.63. Year-over-year the index decreased 0.44 percent. After increasing 0.23 percent during the first quarter of 2015, the pace of employment growth slowed 0.16 percent in the second quarter.

  2. BULLET: US DATA: Q1 Net int'l investment position was........
    Market News Intl Fixed Income Bullets | 08:32 AM EDT

    US DATA: Q1 Net int'l investment position was -$6.8T, "The increase in the net investment position was mostly attributable to the increase in foreign equity prices that raised the value of U.S. direct and portfolio investment assets; these price increases were partly offset by the depreciation of major foreign currencies against the U.S. dollar that lowered the value of U.S. assets in dollar terms." See http://bea.gov/newsreleases/international/intinv/intinvnewsrelease.htm

  3. BULLET: CANADA DATA: Apr GDP -0.1% vs Mar -0.2%, below +0.1%.
    Market News Intl Fixed Income Bullets | 08:30 AM EDT

    CANADA DATA: Apr GDP -0.1% vs Mar -0.2%, below +0.1% expected. Goods -0.8% vs -1.2%; Services +0.3% vs +0.2%. Mfg -0.2% vs -0.1%. Energy -1.6% vs Mar -2.6%.

  4. BULLET: US DATA: The Chicago Fed's Midwest Economy Index.....
    Market News Intl Fixed Income Bullets | 08:30 AM EDT

    US DATA: The Chicago Fed's Midwest Economy Index (MEI) was +0.17 in May, down from +0.28 in April.

  5. BULLET: US TSY OPTIONS: Aside from a block/buy of 10,000.....
    Market News Intl Fixed Income Bullets | 08:21 AM EDT

    US TSY OPTIONS: Aside from a block/buy of 10,000 TYQ 124 puts at 13/64 overnight, screen trade includes -- another 7,000 TYQ 124 puts, 14/64 last -- 10,500 TYQ 125 puts, 30/64 last -- 3,000 TYU 124 puts, 30/64 -- 6,300 TYU 125.5 puts, 1-0/64 last

  6. BULLET: US TSYS: Treasuries hold a tight lower range in......
    Market News Intl Fixed Income Bullets | 08:18 AM EDT

    US TSYS: Treasuries hold a tight lower range in early NY action as accounts put the finishing touches on quarter-end, month-end and half-year end positions. Cash 10-year note is at 2.366%. Other overnight Tsys action included 5Y futures sales. Meanwhile today will see the settlement of last week's 2Y, 5Y, 7Y auctions, which remain at a profit, though Tsys prices are off the Greek-inspired safe-haven bid rally of Mon, before Tsys prices started to seep lower around 4am ET today. Also the NY Fed will do its one-day reverse repo early today, at 9:30am ET start, 10am ET finish to help accounts line up their quarter-end liquidity.

  7. BULLET: US MBS: 30Y MBS ended wider to 10Y Tsys by about.....
    Market News Intl Fixed Income Bullets | 08:03 AM EDT

    US MBS: 30Y MBS ended wider to 10Y Tsys by about 5/32s as Greek uncertainty pressurized other spread product and caused a flattening rally in Tsys. However, some shops reported good real money buying. Others said their flows were light and two-way. Origination supply was about $2B. Regardless of what think of MBS and outlook for Fed, it is Greece that has to be resolved right now and that is happening at a tricky time: month/qtr end, looming US jobs report, July 4 holidays with its associated terror risks, compromised liquidity for many reasons. Looming off to the side is PR and it has an elec rev payment due tomorrow. Greece said yesty would not pay IMF today. IMF does not use term "default" but "arrears" instead. If not paid by COB today, it will be largest single case to the IMF and largest by major advanced economy. The last major case was Zimbabwe in 2001. Is more "he loves me, loves me not" talk this morning. Today get Case Shiller, CAPM, Cons Conf. 2 MBS Fed buys. Tomorrow lots of imp data. Jobs Thur and off Friday.

  8. BULLET: US PIPELINE: No new sales of investment-grade........
    Market News Intl Fixed Income Bullets | 08:02 AM EDT

    US PIPELINE: No new sales of investment-grade corporate bonds surfaced Monday, while risk aversion permeated the U.S. credit market amid intensified concerns about a Greek default and exit from the Eurozone. Investment-grade corporate bond syndicate managers anticipate around $5-10 billion of new issuance this holiday-shortened week, but both Greece and Puerto Rico default worries, as well as some month-end and quarter-end economic data will most likely keep the pace light, including the June jobs report Thurs, followed by Friday's US bond market close for Independence Day. A growing list of potential near-term corporate bond sales are in the pipeline, including from CVS Health Corp (CVS), Target, Intel (INTC), Avago Technologies, DBS Bank, Adani Ports and Special Economic Zone Ltd., Pertamena Persero PT, Corp Financiera de Desarrollo and South Korea's Kookmin Bank. In the agency bond market, Freddie Mac (FMCC) will announce its Reference Note issuance decision Wed. Visit the US$ Credit Supply pipeline for a full list of deals.

  9. BULLET: US TSY/RECAP: US Tsys a smidge lower/flatter, USD....
    Market News Intl Fixed Income Bullets | 08:02 AM EDT

    US TSY/RECAP: US Tsys a smidge lower/flatter, USD mixed vs majors (lower vs JPY, CAD and AUS) while global stocks are mixed (Europe mostly lower while US/Asia mostly up), EGBs up, bund curve steeper while EU peripheral bonds are lower/spds vs Germany a tad wider with Greece +41 bps at 1470 bps. Early chatter on Greece is that Tsipras may go to Brussels or Berlin for talks and that Ger Merkel says door remains open for Greece but it is clear that Greece will not make IMF payment today. Mkt still very choppy overnight with the main focus on a sharply lower DAX with tech names getting hit. US Tsys opened Tokyo firm and traded sideways amid South-East-Asian real money, Asian bank and Asian bank portfolio demand in 5Y. Additionally in futures a decent sized 5/10Y flattener was seen. In London, Tsys fell with bunds but bounced as the long end performed. Modest flow with better sell flows from Japanese regionals sin short coupons, and in 5-10Y while Asian real money sold T-bills, European accts sold 3Y, 10Y and bought 5Y and 10Y. Quarter end has sidelined some players. Data today includes ISM Milwaukee, Case-Shiller, Chicago PM and Consumer Confidence.

  10. BULLET: US SWAPS: Spds running mixed wings wider vs..........
    Market News Intl Fixed Income Bullets | 07:50 AM EDT

    US SWAPS: Spds running mixed wings wider vs. tighter intermediates after generally modest overnight range, carry-over payers in 5s noted. Currently, the 2-year is 0.19 bps wider at 25.5, the 5-year 0.12 bps tighter at 12.88, the 10-year 0.5 bps tighter at 10.38, the 30-year 0.12 bps wider at -18.81; swap forward rates has 1y1y at 1.301%, 2y1y at 1.971%, 5y5y at 3.216%, 10y10y at 3.342%, spread and rate levels via Bloomberg. By Mon's close, spds wider, at/near session highs but off early overnight levels after the bell. Sources reported better paying across the curve with intermittent unwinds as widener positions took profits. Otherwise, overnight volumes were much higher, w/flow including fast money payers in 2s and in 2s/5s/10s forwards, better paying in 5s from various accounts (vs. some dealer profit taking in wideners), foreign real money unwinding receivers in 10s, and paying in 10s-30s from option accts. Dealers noted a rather mild 0.19 rise in 3-month Libor and limited widening in U.S. swaps suggested markets can endure for the next few days.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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