News Results

  1. BULLET: GLOBAL MARKET/OPINION: Multiple weekend wires........
    Market News Intl Fixed Income Bullets | 02:03 PM EDT

    GLOBAL MARKET/OPINION: Multiple weekend wires covering the U.S. Treasury Department's decision Friday to place China, Japan, South Korea, Taiwan and Germany on a currency watch list, "for relying on policies it says threaten to damage the U.S. and the global economy," Saturday's Wall Street Journal reported. Nikkei speculated the "rise in the value of the yen and the fall in Japanese stock prices will accelerate on Monday." Saturday Financial Times wrote the U.S. Treasury warned the group could "faced extra scrutiny and potential retaliation by Washington as a result of concerns over growing imbalances in their trade relationship with the U.S." Under a new currency manipulation law "the US has to launch special currency talks with any country that has bilateral trade surpluses worth more than $20bn, current account surpluses above 3 per cent of GDP, and is making 'repeated' net foreign currency purchases equivalent to more than 2 per cent of GDP in any given year."

  2. BULLET: US TSYS: One trader said that "month-end was very,...
    Market News Intl Fixed Income Bullets | 04/29/16 05:05 PM EDT

    US TSYS: One trader said that "month-end was very, very busy" but Monday "will be very quiet, with the May Day" holiday. (The UK and much of Asia will be out). He was "looking forward the reading the Warren Buffet letter, given the Berkshire Hathaway (BRK/A) shareholder meeting this weekend." Fortune magazine said the meeting will be webcast, (streaming on Yahoo (YHOO)) for the first time ever, starting Saturday at 10am ET (9am CT); Warren Buffet and business partner Charlie Munger will talk until 4:30pm ET. Meanwhile, the S Tsy 10-year note in NY action hit a high-yield for the day of 1.872% early on at 8:34 a.m. ET, and hit a low yield for the day of 1.816% at 3:30pm ET.

  3. BULLET: AUSSIE SUMMARY: *Aussie US Open April 29 $0.7635,....
    Market News Intl Fixed Income Bullets | 04/29/16 04:41 PM EDT

    AUSSIE SUMMARY: *Aussie US Open April 29 $0.7635, O/N $0.7623-0.7669, US $0.7587-0.7648 *Aussie-Yen Open April 29 Y81.76, O/N 81.58-82.52, US 80.82-82.01 *Aussie traded up to the intraday highs at $0.7669 late in the Asian session; Europe pushed prices lower to the overnight lows of $0.7624. *The US session opened trading at $0.7635 and the market traded mostly lower throughout the day making an intraday low at $0.7587 in late afternoon trading. Aussie did not trade with the Dollar like so many other currency pairs today, it traded with risk aversion, I.E. lower. Even with gold making yearly highs, Aussie could not gather itself to rally. *Dollar-Canada was a factor; after the making a triple bottom low at C$1.2499/1.2500 this pair rallied in late afternoon trading to an intraday high of C$1.2587. Support for Aussie is at the $0.7576 April 28 low, followed by the $0.7549 Apr 27 low. Watch, May 2 Aussie AI group manufacturing index, NAB business survey. May 3 RBA rates meeting the market expects the RBS to act after extremely soft CPI number.

  4. BULLET: US AGENCIES: Fannie Mae today released its monthly...
    Market News Intl Fixed Income Bullets | 04/29/16 04:08 PM EDT

    US AGENCIES: Fannie Mae (FNMA) today released its monthly summary for March 2016, and among the highlights: Fannie Mae's Book of Business rose at a 1.6% rate in March vs a rise of 0.4% in Feb; the Effective Duration Gap on Fannie Mae's (FNMA) portfolio averaged zero months in March, unchanged since March 2015, per the report; the agency's Gross Mortgage Portfolio fell at a rate of 15.1 percent in March; the Conventional Single-Family Serious Delinquency Rate decreased 8 bps to 1.44% in March; the Multifamily Serious Delinquency Rate fell by 1 bp to 0.06% in March. For more, see: http://www.fanniemae.com/resources/file/ir/pdf/monthly-summary/033116.pdf

  5. BULLET: US TSYS: Commodity Futures Trading...................
    Market News Intl Fixed Income Bullets | 04/29/16 03:45 PM EDT

    US TSYS: Commodity Futures Trading Commission/Commitment of Traders data for the period ending April 26 details: the latest report showed large speculative accounts added net shorts in Fed funds, 2- and 10-year notes and the Ultra-bond (new record) while paring back positions in Eurodollars, 5-year note and the 30-year Bond. In the short end, the group added to net shorts in Fed funds by -11,861 to -104,115 and pared net shorts in Eurodollars by +90,450 to finish -150,334. In notes, the group added net shorts in the 2-year note by -10,959 to -96,084, and pared net shorts in the 5-year note by +12,680 to finish -117,845. The group added net shorts in the 10-year note by -39,496 to finish -63,775. In the long end, the group pared net longs in the 30-year Bond by -4,800 to +48,175, while adding net shorts in the Ultra-bond by -76 to a new record short of -108,793*.

  6. BULLET: US TSYS SUMMARY: Pt II; 1) Tsys saw more Fri.........
    Market News Intl Fixed Income Bullets | 04/29/16 03:41 PM EDT

    US TSYS SUMMARY: Pt II; 1) Tsys saw more Fri mo-end asset allocation (buy Tsys/vs sell stocks) but much done post-FOMC so earlier in wk 2) Japan Golden Wk starts Fri 3)Jpn's Sumitomo (SSUMF), Dai-Ichi, Nippon lifers to buy more foreign bds in Fyr; Jpn thought to buy US 5Y, 7Y Tsy sale which get paid for Mon 4)Mon:holiday in UK, much of Asia 5) MBS tight 6)Fed did $65.6B 3-day RRP amid mo-end bid; - Treasuries finished Friday 3pm ET vs Thursday 3pm ET: - The 2-year ended at 0.774% (99-30+) from 0.789% (99-29+) - The 3-year ended at 0.921% (99-276) from 0.939% (99-26) - The 5-year ended at 1.279% (100-146) from 1.301% (100-11+) - The 7-year ended at 1.599% (100-05+) from 1.613% (99-08+) - The 10-year ended at 1.817% (98-09) from 1.837% (98-03+) - The 30-year ended at 2.662% (96-21+) from 2.692% (96-02+) - The 2/5-year curve flattened to +50.5 bps from +51.2 bps - The 2/10-year curve flattened to +104.3 bps from +104.8 bps - The 2/30-year curve flattened to +188.8 bps from +190.3 bps - The 5/30-year curve flattened to +138.3 bps from +139.1 bps

  7. BULLET: US OUTLOOK/OPINION: US Data Cal for Monday- 02-May...
    Market News Intl Fixed Income Bullets | 04/29/16 03:30 PM EDT

    US OUTLOOK/OPINION: US Data Cal for Monday- 02-May 0945 *** Apr Markit Mfg Index (final) 02-May 1000 *** Apr ISM Manufacturing Index 02-May 1000 * Mar Construction spending

  8. BULLET: US PIPELINE: A total $2.75Bn of new..................
    Market News Intl Fixed Income Bullets | 04/29/16 03:28 PM EDT

    US PIPELINE: A total $2.75Bn of new investment-grade corporate bonds priced (*) today on the docket: - $1.25B *FMCC (Baa2/BBB) 3Y fxd T+110 BNP/CS/DB/MIZ/MS/SMBC $1.0B *FMCC (Baa2/BBB) 7Y T+150 BNP/CS/DB/MIZ/MS/SMBC Ford Motor Credit Co $500M *Texas Instruments (TXN) (A1/A+) 6Y T+60 BAML/BAR/MIZ Sr unsec

  9. BULLET: EURO SUMMARY: *Euro US Open April 29 $1.1397, O/N....
    Market News Intl Fixed Income Bullets | 04/29/16 03:26 PM EDT

    EURO SUMMARY: *Euro US Open April 29 $1.1397, O/N $1.1348-1.1414, US $1.1382-1.1459 *The Euro traded at the intraday lows,$1.1348, early in the Asian session; Europe pushed prices up to the overnight highs of $1.1414. *The US market opened trading at $1.1397; the market traded higher, eventually making the intraday highs at $1.1459 by 11:20 AM. Today's high stopped just short of the $1.1465, April 12 yearly high. A daily close above that level and the market should push prices higher to the Oct15, 2015 highs of $1.1495. $1.1714 is the Aug24, 2015 high and the objective for this move. Cable was a factor today, as the Dollar got hit almost across the board today. This pair traded higher from the Asian lows of $1.4577 to make an intraday high of $1.4670, breaking the $1.4668 high made on Feb 4. The yearly high is $1.4816, made on Jan 4. *The weak Dollar carried over to gold as well; the metal has gained 4.5% against the Dollar in the last two trading days ($1,237-$1,298)to make new yearly highs. Watch, May 2 EU Markit Manu PMI, Draghi keynote Fft. conf. Last Euro $1.1450.

  10. BULLET: US TSYS SUMMARY: Treasuries end Fri higher after.....
    Market News Intl Fixed Income Bullets | 04/29/16 03:22 PM EDT

    US TSYS SUMMARY: Treasuries end Fri higher after 1)Month-end index- tied duration buys in long end Tsys and also anticipatory buying too; 2) Futures sees brisk buying post-close: 4,000 contract bought at 109-10.25, June 5Y, June 10Y buying too in smaller 1,000-lots; 3) Tsys began NY lower with US$ weaker, global stocks down as Jpn closed for first day of Golden Week tho FX mkts still running; US$/yen now at Y106.725 by 3:12pm ET, vs. o/night range of Y108.20-Y106.91 3) Gold had large stop loss buying overnight partly on strong JPY; 4) Tsys saw early mixed flows: light sales as Dallas Fed Kaplan said if better data, would back rate hike; 5) Tsys then digests 0.4% Mar personal income, 0.1% nominal PCE, 0.6% 1Q employment cost index; 6) Stocks weak, S&P 500 -1.02% at 3:11pm ET (but European stocks much weaker;) &) Eurodollar futures: limited flows, 2way chop: better sellers, short end buyers add to late morning bear steepeners (buyer of 6,000 EDU'16 at 99.21, buyer of 2,000 EDZ'16 at 99.13); 7) Tsys then gained on softer MNI Chic Report, BBG/Michigan consumer sentiment, weak revised March retl sales 8)Back end Tsys/vs sales in intermeds, late morning profit- tkng outright and steepeners, lg end bid (More)

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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