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Search resuls for: "Subadra Rajappa"


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MSCI’s benchmark, the S&P 500 and a key European index surged to record highs after the U.S. Labor Department said the consumer price index in the 12 months ended in May accelerated 5.0%, the biggest year-on-year increase since August 2008. In a sign of market complacency, the 10-year U.S. Treasury note’s yield fell 1.2 basis points to 1.4772% after earlier rising above 1.5% following the data’s release. On Wall Street, the Dow Jones Industrial Average rose 0.35%, the S&P 500 gained 0.45% and the Nasdaq Composite added 0.49%. A surprisingly strong U.S. inflation print in April spooked investors, sparking a cautious run into Thursday’s of May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , , MSCI’s Organizations: U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, European Central Bank, Morgan Locations: New York, Natixis, U.S, Treasuries
TREASURIES-Yields higher after consumer price data
  + stars: | 2021-06-10 | by ( Ross Kerber | ) www.reuters.com + 0.00   time to read: +3 min
The benchmark 10-year yield was up 2.7 basis points at 1.5161% in morning trading and had reached as high as 1.535%. The increase in the 10-year yield broke a pattern of declines in recent days but left the note still below its range of last week. The trading pushed up the part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations. It was at 136 basis points, about 2 basis points higher than Wednesday's close. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up less than a basis point at 0.1568%.
Persons: Ross Kerber, steepening, Subadra Rajappa, Chizu Nomiyama Organizations: Traders, Treasury, U.S . Labor Department, U.S . Federal Reserve, Societe Generale, U.S Locations: U.S, New York, Boston
Stocks rally, dollar stable after jump in U.S. CPI data
  + stars: | 2021-06-10 | by ( Herbert Lash | Simon Jessop | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo/File PhotoMSCI’s all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data’s release, while the dollar index was essentially flat, down 0.08%. A surprisingly strong U.S. inflation print in April spooked some investors, leading to a cautious run into the release on Thursday of the May data. Short positions in Treasuries were the highest since 2018, according to JP Morgan positioning data last week.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , Organizations: London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Treasury, Societe Generale, Americas, Dow Jones, Nasdaq, Atlantic, European Central Bank, Morgan Locations: City, City of London, Britain, New York, Natixis, COVID, U.S, Treasuries
Stocks rally, yields drop as U.S. CPI data calms investors
  + stars: | 2021-06-10 | by ( Herbert Lash | ) www.reuters.com + 0.00   time to read: +4 min
The report was largely in line with expectations, said Subadra Rajappa, head Of U.S. rates strategy at Societe Generale in New York. “The (equity) market is going to ignore the data. MSCI’s all-country world index rose 0.45% to 718.81, nudging past its previous record set Tuesday. In the United States, data showed people filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months. The dollar index fell 0.071%, with the euro down 0.07% to $1.217.
Persons: Toby Melville, Subadra Rajappa, ” Rajappa, Joseph LaVorgna, ” LaVorgna, , MSCI’s, Thomas Hayes, ” Hayes, , Brent Organizations: YORK, Global, London Stock Exchange Group, City of, REUTERS, U.S . Labor Department, Societe Generale, Treasury, Americas, European Central Bank, Dow Jones, Nasdaq, Great, Great Hill Capital, ECB, U.S, West Texas Locations: City, City of London, Britain, New York, Natixis, Great Hill, United States
The yield on 10-year Treasury notes was up 0.9 basis points at 1.649%, below a spike above 1.75% reached in late March. But breakeven rates rose, the difference in yield between inflation protected securities and nominal debt. "Forward breakevens are lower than spot breakevens, suggesting the market thinks inflation is going to rise then fall," he said. The 10-year TIPS breakeven rate was last at 2.554%, indicating the market sees inflation averaging 2.5% a year for the next decade. 2-year dollar swap 10.25 0.25 spread U.S. 3-year dollar swap spread 11.50 0.25 U.S. 5-year dollar swap spread 8.25 0.50 U.S. 10-year dollar swap -4.00 0.50 spread U.S. 30-year dollar swap -32.00 0.25 spread (Reporting by Herbert Lash; editing by Jonathan Oatis and Richard Chang)
Persons: Herbert Lash NEW, Subadra Rajappa, Rajappa, Guy LeBas, Janney Montgomery Scott, LeBas, homebuilding, Herbert Lash, Jonathan Oatis, Richard Chang Organizations: Herbert Lash NEW YORK, U.S, Treasury, Walmart Inc, Home, Societe Generale, Federal, Walmart, Commerce Department, Securities Locations: New York
Nerves had increased over the seven-year auction after the maturity drew weak demand at auctions in February and March. “The seven-year auction was widely anticipated just because of the bad previous two auctions, so it was nice to see it make somewhat of a comeback,” said Eric Souza, senior portfolio manager at SVB Asset Management. Seven-year yields gained four basis points to 1.300% after earlier reaching 1.309%, the highest since April 15. Benchmark 10-year note yields rose five basis points to 1.618%, the highest since April 20. Analysts expect the Fed will hike the IOER if the fed funds rate falls below five basis points.
Persons: Karen Brettell, , , Eric Souza, Subadra Rajappa, Souza, Kirsten Donovan, David Gregorio Organizations: Treasury, Treasury Department, Federal, SVB Asset Management, Dealers, Gross, Societe Generale, Locations: COVID, New York, U.S
Not sure the Fed can do more to support the economy: Subadra Rajappa
  + stars: | 2020-11-05 | by ( ) www.cnbc.com + 0.97   time to read: 1 min
Not sure the Fed can do more to support the economy: Subadra RajappaSubdara Rajappa, head of U.S. rates strategy at Soc-Gen, joins 'The Exchange' to talk about the real concern of the Fed before the meeting.
Persons: Rajappa Organizations: Fed
Total: 7