Friday, April 29, 2016 - 16:56 Friday's Top Stories in the United States 0
* In the week ahead, the expectation for good April economic data and supply from the May Treasury refunding announcement might conflict with month-end duration needs as the Treasury market continues to see "as needed" flows that set a range for yields, fixed income market sources said. Analysts at BNP wrote, "We believe the rise in bond yields has probably already gone far enough. Thus we recommend selective duration longs: specifically, we recommend long US 10-years." Technical analysts at JP Morgan said post-FOMC the 10-year note rebound "stalled near last week's 1.80% breakdown, which marks key short-term resistance. Despite that, technicals remain very mixed ... .
Friday, April 29, 2016 - 12:13 DBRS Confirms Portugal Investment-Grade Rating, Stable Trend 0
By Jack Duffy
PARIS (MNI) - PARIS (MNI) - The rating agency DBRS on Friday confirmed its investment grade rating on Portugal and said the country's outlook remained "stable."
The move allows Portugal to continue to qualify for the European Central Bank's quantitative easing bond-buying program.
Friday, April 29, 2016 - 05:00 Analysis: EMU Q1 Growth Jumps to 0.6%, Fastest Pace in a Year 0
By Jack Duffy
PARIS (MNI) - The Eurozone's economic growth accelerated at the fastest pace in a year in the first quarter, helped by stronger performances in big economies like in France and Spain, preliminary data from Eurostat showed Friday.
GDP growth in the single-currency bloc increased by 0.6% in the quarter, double the 0.3% in last year's fourth quarter and well above the 0.4% median estimate of economists surveyed by MNI.
Friday's report marked the first time that Eurostat has published preliminary GDP data based in some cases on growth estimates furnished by member states. As a result, Friday's preliminary estimate could be subject to larger-than-usual revisions.
Thursday, April 28, 2016 - 19:08 US's Lew to Greece's Tsipras: Work Together - Text 0
WASHINGTON (MNI) - The following is a "readout" from the Treasury Department of Secretary Jack Lew's telephone conversation Thursday with Greek Prime Minister Alexis Tsipras:
Secretary Lew and Prime Minister Tsipras discussed the importance of Greece, the IMF, and European institutions constructively working together to conclude the first review of Greece's economic reform program and find a sustainable path forward in a timely manner.
Thursday, April 28, 2016 - 16:56 Thursday's Top Stories in the United States 0
* Those who worry central banks are doing too much found out Thursday what happens when one of them does nothing. Disappointment in the Bank of Japan's decision to keep monetary policy steady Thursday led to a sharply lower dollar-yen and a hefty decline in Japanese stocks, with spillover effects for other world financial markets. In the U.S., BOJ disappointment translated into softer U.S. stocks, with the biggest Dow drop in more than two months, and heightened demand for U.S. Treasuries. In turn, lower U.S. Treasury yields, along with fears about a new leg lower in dollar-yen, weighed on the dollar across the board. Friday marks the start of the Golden Week holiday in Japan, with financial markets closed April 29 and May 3-5.
Thursday, April 28, 2016 - 16:49 Eurogroup Confirms Extraordinary Meeting on Greece For May 9 0
By Martin Baccardax
LONDON (MNI) - Eurogroup Finance Ministers will hold an extraordinary meeting on Monday May 9 in order to discuss the latest developments in Greece's ongoing bailout review, with the aim of potentially unlocking billions in delayed loan tranches.
Michel Reijns, spokesperson for Eurogroup President Jeroen Dijsselbloem, confirmed the date and time of the meeting via his official Twitter social media account Thursday after reports had surfaced in the domestic Greek media earlier in the day.
"The institutions and the Greek authorities have made important progress on a policy package that could pave the way for discussions on debt sustainability and the conclusion of the first review of the third Greek...