News Results

  1. BULLET: FED: Rosengren appearance ended.
    Market News Intl Fixed Income Bullets | 01:56 PM EDT

    FED: Rosengren appearance ended.

  2. BULLET: US: Atl Fed GDPNow model forecast for real GDP.......
    Market News Intl Fixed Income Bullets | 01:51 PM EDT

    US: Atl Fed GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2015 is 1.3 percent on September 1, up from the nowcast of 1.2 percent released August 28. The nowcast for real GDP growth increased 0.2 percentage points to 1.4 percent after incorporating the U.S. Census Bureau's advance report on international trade in goods in July. This morning, it ticked down 0.1 percentage points to 1.3 percent following the construction spending release from the Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management.

  3. BULLET: FED: Rosengren in Q&A saying that it's doubtful US...
    Market News Intl Fixed Income Bullets | 01:46 PM EDT

    FED: Rosengren in Q&A saying that it's doubtful US HH's will react much to stock mkt drop; this becomes a problem if it reflects worldwide slowing. Also saying Fed is missing its goals.

  4. BULLET: OUTLOOK: Global Cal for Weds (GMT/ET) - 02-Sep.......
    Market News Intl Fixed Income Bullets | 01:46 PM EDT

    OUTLOOK: Global Cal for Weds (GMT/ET) - 02-Sep 0130 / 2130* Australia Q2 GDP 02-Sep 0500 / 0100 Japan METI weekly gasoline prices 02-Sep - Germany Jul car registrations 02-Sep 0700 / 0300 Spain Aug unemployment 02-Sep 0830 / 0430 UK Aug CIPS/Markit Construction PMI 02-Sep 0900 / 0500 EMU Jul PPI

  5. BULLET: US TSYS: Speaking of Fed liftoff trades, of course...
    Market News Intl Fixed Income Bullets | 01:10 PM EDT

    US TSYS: Speaking of Fed liftoff trades, of course traders will be watching the US jobs report out this Friday at 8:30 a.m. ET. MNI economist poll has a +210 median estimate (and a high estimate of +250K and a low estimate of +173K). And more near-term at Wed at 8:15 am ET, the MNI economist poll has a +205K ADP median estimate.

  6. BULLET: FED: Boston Fed Pres Rosengren (FOMC voter in '16)...
    Market News Intl Fixed Income Bullets | 01:10 PM EDT

    FED: Boston Fed Pres Rosengren (FOMC voter in '16) sounds dovish, says on timing of tightening, "without an expectation of growth above potential and further tightening of labor markets, I would lose my primary rationale for a forecast of rising inflation, diminishing my confidence that inflation will reach the 2% target within a reasonable time frame. Indications of a much weaker global economy would at least increase the uncertainty." Does not specify timing but says should be gradual and end at low level. Also finds "very good reasons to expect a much more gradual normalization process than occurred in the previous two tightening cycles" - prior was about 200bp/yr. Wants gradual pace, lower rate at end than prior.

  7. BULLET: US TSYS SUMMARY: US Tsys higher midday Tues after....
    Market News Intl Fixed Income Bullets | 12:44 PM EDT

    US TSYS SUMMARY: US Tsys higher midday Tues after 1) Tsys opened higher with back end outperforming 2) Main story: weaker global equities after weak European, China PMIs but closer look suggested PMIs not so bad, so some thought excuse to sell 3) But on UK/NY cross, Tsys in lock step with stocks, trading up as US stocks improved. 4) Flows: big real money 30Y demand on move but that met very good strength sellers 5) Bias to sell but with DJIA looking to open 400 pnts lower, many sidelined early 6) Tsys backed off into stock open despite weaker prices on talk pensions will put a lot into equities:talk $50B 7) Tsys tick higher post 9:30 am ET stk open in NY; then hedge funds sold Bunds, systems bought Gilts, then dealers sold US 10Y, bought back, sold 8) Dec 5Y/Dec 30Y steepeners/ flattener unwinds, buying 2Y bundles in Eurodlr futures on riskoff 9) Tsys gyrated off intraday high 10) RV accounts buy older Tsys which had been sold in dribs and drabs by various foreign central bks,11) Midmorning seller of 3,124 Sep 30Y at 154-13 and seller of 2,665 Sep Ultras at 157-29 at 10:34 am ET on block trades 12) Swaps tight on payer unwinds, after earlier 5y/5y payers, steepeners 13) Accts said to be forced out of Fed liftoff, risk-parity trades

  8. BULLET: US TSYS: Street grabbed more than 88% of the 4wk.....
    Market News Intl Fixed Income Bullets | 12:33 PM EDT

    US TSYS: Street grabbed more than 88% of the 4wk auction - that is the highest such % this yr.

  9. BULLET: US TSYS: One veteran trader said that "there is......
    Market News Intl Fixed Income Bullets | 12:24 PM EDT

    US TSYS: One veteran trader said that "there is enough evidence around the margins, that the Chinese have to be selling" in Tsys in his view more so in overnight action. However this is being offset overnight by good buying from other Japanese or Asian accounts. "There was pretty decent Asian real money buying last night, which could have been say Japanese buying, and that could be offsetting Asian central bank selling," and also account for why the market does not make straight up or down moves, he said. Presumably anyone who wants to sell, wants to do so on strength, he said.

  10. BULLET: US TSYS: Some muted bargain-hunting comes in at......
    Market News Intl Fixed Income Bullets | 12:11 PM EDT

    US TSYS: Some muted bargain-hunting comes in at the lows, with even 30Ys improving too. Cash 10-year note is at 2.175%. US stocks still remain lower: DJIA is off 2.13% on the day.

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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