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Apr 12, 2012

Treasury prices fall slightly but selling eases after auction

NEW YORK (Reuters) – Treasury debt prices edged lower on Thursday but the main driver for their declines seemed to be the afternoon’s 30-year Treasury bond auction, after which losses in the market faded significantly.

The Treasury sold $13 billion in re-opened 30-year bonds at a high yield that matched the 30-year yield in the open market at the time of the auction.

Apr 11, 2012

Debt selloff could continue Thursday

NEW YORK (Reuters) – Treasury debt prices fell on Wednesday, giving back much of the previous day’s gains as diminished worries over Europe’s fiscally troubled countries and new Treasury supply weighed on the market.

European Central Bank Executive Board member Benoit Coeure helped ease concerns over Europe’s debt crisis by saying the ECB still had its bond-buying program as an option to employ. This helped damp demand for safe-haven U.S. Treasuries.

Apr 9, 2012

Debt prices up, weak jobs report still in spotlight

NEW YORK (Reuters) – U.S. Treasury debt prices rose on Monday, with most gains appearing in the longer maturities on the yield curve, reflecting expectations that last Friday’s disappointing U.S. payrolls report had increased the chances of a third round of easing measures by the Federal Reserve.

Stock futures were pointing to losses for the major indexes, another booster for Treasury prices.

Apr 4, 2012

First New York Securities CEO resigns

NEW YORK, April 4 (Reuters) – The chief executive of
proprietary trading firm First New York Securities, Joseph
Schenk, is stepping down, a source close to the firm told
Reuters on Wednesday.

Schenk will remain at First New York for three months while
a search for his replacement is conducted. Tom Donino, First New
York’s co-head of domestic equities, will also serve as interim
co-CEO during the search for Schenck’s replacement.

Apr 4, 2012

Primary dealers moved back rate hike view in March

NEW YORK, April 4 (Reuters) – Wall Street firms authorized
to deal directly with the Federal Reserve nudged their
expectations for the Fed’s first interest rate hike further into
the future last month, the Federal Reserve Bank of New York
revealed on Wednesday.

U.S. primary dealers on average saw the highest probability
of the first U.S. interest rate increase in the second half of
2014, according to a March survey conducted by the New York
Fed.

Apr 4, 2012

Fed earned about $86 billion on holdings in 2011: NY Fed

NEW YORK (Reuters) – The U.S. Federal Reserve earned about $86 billion in income before expenses from its system open market operations (SOMA) in 2011 and remitted about $75 billion of those earnings to the Treasury last year, the New York Fed said on Wednesday.

Fed projections assume its SOMA holdings will remain stable near $2.6 trillion until mid-2013, then will fall steadily over the next four years because of redemptions and asset sales, the New York Fed said in its annual report on operations done on behalf of the U.S. central bank.

Apr 4, 2012

Fed earned about $86 bln on holdings in 2011-NY Fed

NEW YORK, April 4 (Reuters) – The U.S. Federal Reserve
earned about $86 billion in income before expenses from its
system open market operations (SOMA) in 2011 and remitted about
$75 billion of those earnings to the Treasury last year, the New
York Fed said on Wednesday.

Fed projections assume its SOMA holdings will remain stable
near $2.6 trillion until mid-2013, then will fall steadily over
the next four years because of redemptions and asset sales, the
New York Fed said in its annual report on operations done on
behalf of the U.S. central bank.

Mar 30, 2012

Repo rates lower as banks pause for quarter-end

NEW YORK, March 30 (Reuters) – Preparations for both the end
of the quarter and Japan’s fiscal year dominated global money
markets on Friday, as quiet trading in the Treasury market and a
muted reaction to new developments in Europe kept repo and
interbank lending rates mostly steady.

Rates on general collateral in the overnight repurchase
market were in the teens. But Roseanne Briggen, an analyst at
IFR, a unit of Thomson Reuters, said the most recently issued
Treasury notes were all trading “special,” meaning their
collateral rates were lower than the general collateral rate.

Mar 22, 2012

Debt prices post third day of gains

NEW YORK (Reuters) – Treasury debt prices rose on Thursday, retracing some of their recent losses, as a decline in manufacturing in China and the euro zone’s two largest economies raised demand for safe-haven assets and hurt stocks on worries that global growth was faltering.

Price gains were tempered, however, and the benchmark 10-year note’s yield held a bit above the 200-day moving average, after data showing new U.S. claims for unemployment benefits fell to a four-year low last week.

Mar 21, 2012

Prices rise on lack of supply, Fed buying

NEW YORK (Reuters) – Treasury prices rallied on Wednesday as heavy buying by the Federal Reserve and a lack of new Treasury supply contributed to demand for the newly cheapened U.S. debt.

Prices also got a boost from weaker-than-expected housing data, while investors took advantage of a recent rise in yields to do some bargain hunting.

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      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
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