DailyMarkets.com - Monetary Policy Week In Review – 18 June 2011
DailyMarkets.com - Monetary Policy Week In Review – 18 June 2011 |
- Monetary Policy Week In Review – 18 June 2011
- Hot Option Plays: Here’s Another Yogi Reference (not The Bear But Berra)
- Boeing Sees Trillions
- Infosys Expands In New Zealand
- Colombia Central Bank Lifts Interest Rate 25bps To 4.25%
- BPO Upgrading World Financial Center
- Alcoa Re-aligns For China
- BPO Upgrading World Financial Center
- Boeing Sees Trillions
- Hologic’s Selenia Awarded
- Bank Of Botswana Holds Rate At 9.50%
- Forex – EUR/USD Up At The End Of U.S. Session
- LabCorp Extends Orchid Tender Offer
- Forex – GBP/USD Up At The End Of U.S. Session
- Closing Bell Market Monitor
- Forex – USD/JPY Down At The End Of U.S. Session
- Bloomberg’s Jonathan Weil Believes BofA And Citi Need More Capital
- Forex – USD/JPY Down Toward The End Of U.S. Session
- Earnings Preview: Housing Sales In Focus
- Oracle Aiming To Cash In On Android
- HPQ Expedites Guam Judicial Services
- Jamba Expands In Korea
- Forex – EUR/USD Up Toward The End Of U.S. Session
- Hot Option Plays: Bears Stop For A Pic-a-Nic
- U.S. Markets Mixed At Close; Dow Jones Up 0.36%
- Novartis Vaccine For FDA Review
- More Facebook Drama
- Basel Fee: Protector Or Inhibitor?
- Campbell’s Risk-Reward Balances
- 40 Yrs. Of Drug War Failure: LEAP’s Neill Franklin
- Companies Leaving California In Record Numbers
- Forex – GBP/USD Up During The U.S. Session
- Abbott’s Bardoxolone In Phase III
- Cheesecake In Expansion Mode
- Alkermes Intros Study On Depression
- USD/CHF Ends Week Maintaining Short-term Bullish Momentum
- Why Does Wall Street Hate Silicon Valley?
- Forex – USD/CAD Down In U.S. Trade
- Setback For SurModics
- Southern Union To Unite With ETE
- Statoil Reaches Leismer Milestone
- Masimo’s Agreement With Philips
- Leading Economic Index Points To Ongoing Growth
- Forex – EUR/USD Up In U.S. Trading Hours
- Big Payday For Pre-earnings Put Buyer On RIMM
- Big Payday For Pre-earnings Put Buyer On RIMM
- Is Gold About To Have Its Status Upgraded?
| Monetary Policy Week In Review – 18 June 2011 Posted: 17 Jun 2011 03:47 PM PDT The past week in monetary policy saw a range of tightening measures announce by emerging market central banks. Of those that increased interest rates were: Mauritius +25bps to 5.50%, Chile +25bps to 5.25%, India +25bps to 7.50%, and Colombia +25bps to 4.25%. Meanwhile those that reviewed policy but held rates unchanged were: Japan 0.10%, Sri Lanka 7.00%, Morocco 3.25%, Iceland 4.25%, Philippines 4.50%, Switzerland 0.25%, and Botswana 9.50%. Aside from interest rates the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Hot Option Plays: Here’s Another Yogi Reference (not The Bear But Berra) Posted: 17 Jun 2011 03:17 PM PDT Cusick’s Corner
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| Posted: 17 Jun 2011 03:10 PM PDT The Boeing Company (NYSE:BA) estimates a $4 trillion market for new commercial airplanes in the next 20 years, according to its 2011 Current Market Outlook.
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| Infosys Expands In New Zealand Posted: 17 Jun 2011 03:02 PM PDT Outsourcing major Infosys Technologies (NASDAQ:INFY) recently entered into a strategic partnership with Auckland based Gen-i.
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| Colombia Central Bank Lifts Interest Rate 25bps To 4.25% Posted: 17 Jun 2011 02:38 PM PDT The Central Bank of Colombia increased its benchmark monetary policy interest rate by 25 basis points to 4.25% from 4.00% previously. The Bank said (translated): “Credit growth continued to accelerate. Both business and household lending real growth rates are tracking significantly higher than GDP growth. This situation occurs in a context where much of real interest rates are at historically low levels.” and that “The increase in the rate of intervention aims to maintain … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| BPO Upgrading World Financial Center Posted: 17 Jun 2011 02:25 PM PDT Brookfield Office Properties (BPO) is planning a $250 million retail redevelopment of the World Financial Center in downtown Manhattan. The redevelopment will include a connector to the area’s transit hubs, which offers high-end fashion, a European-style marketplace, and dinning destinations. The construction is expected to commence by October 2011 and will likely be completed by 2013.
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| Posted: 17 Jun 2011 02:25 PM PDT Alcoa Inc. (NYSE:AA) stated that the company’s Asia-Pacific regional headquarters will report to Alcoa’s Business Excellence and Corporate Strategy organization, which is part of an initiative to support the expanding footprint of Alcoa’s three business groups in the fast-growing and strategically important Chinese market.
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| BPO Upgrading World Financial Center Posted: 17 Jun 2011 02:25 PM PDT Brookfield Office Properties (BPO) is planning a $250 million retail redevelopment of the World Financial Center in downtown Manhattan. The redevelopment will include a connector to the area’s transit hubs, which offers high-end fashion, a European-style marketplace, and dinning destinations. The construction is expected to commence by October 2011 and will likely be completed by 2013.
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| Posted: 17 Jun 2011 02:25 PM PDT The Boeing Company (NYSE:BA) estimates a $4 trillion market for new commercial airplanes in the next 20 years, ac
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| Posted: 17 Jun 2011 02:25 PM PDT In a major achievement, Hologic (NASDAQ:HOLX) won a gold Medical Design Excellence Award (MDEA) award for its Selenia Dimensions 2D/3D mammography system. MDEA, organized by the leading business-to-business media company UBM Canon, is a premier awards program that recognizes the achievements of medical devices manufacturers.
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| Bank Of Botswana Holds Rate At 9.50% Posted: 17 Jun 2011 02:22 PM PDT The Monetary Policy Committee of the Bank of Botswana held its benchmark interest rate unchanged at 9.50%. The Bank said: ”Maintaining the prevailing level of interest rates is consistent with the achievement of the bank’s 3-6 percent inflation objective in the medium-term,” also noting the “Upside risks to the inflation outlook include any unanticipated large increase in administered prices and government levies, as well as an increase in international oil and food prices … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – EUR/USD Up At The End Of U.S. Session Posted: 17 Jun 2011 02:10 PM PDT Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4312, up 0.77% at time of writing.<br/><br/> The pair was likely to find support at 1.4074, Thursday’s low, and resistance at 1.4498, Tuesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| LabCorp Extends Orchid Tender Offer Posted: 17 Jun 2011 02:05 PM PDT Laboratory Corporation of America Holdings (NYSE:LH) has decided to extend the tender offer for Orchid Cellmark (NASDAQ:ORCH) till July 15, 2011. Earlier, in May 2011, the company received a request from the Federal Trade Commission (FTC) for some additional information related to the transaction. LabCorp is cooperating with the FTC on this issue. Till date about 88.2% of the outstanding shares of Orchid have been tendered.
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| Forex – GBP/USD Up At The End Of U.S. Session Posted: 17 Jun 2011 02:05 PM PDT Forex Pros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> GBP/USD was trading at 1.6194, up 0.24% at time of writing.<br/><br/> The pair was likely to find support at 1.6079, Thursday’s low, and resistance at 1.6442, Tuesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 17 Jun 2011 02:00 PM PDT 06/17/11 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – USD/JPY Down At The End Of U.S. Session Posted: 17 Jun 2011 02:00 PM PDT Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/JPY was trading at 80.05, down 0.75% at time of writing.<br/><br/> The pair was likely to find support at 80.01, today’s low, and resistance at 81.06, Wednesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Bloomberg’s Jonathan Weil Believes BofA And Citi Need More Capital Posted: 17 Jun 2011 01:41 PM PDT Earlier this week, I inquired of BofA Shareholders, 'How Long Can You Tread Water?' and asked whether BofA may need more capital. Bank of America Corp. chief executive Brian Moynihan insisted Wednesday that his company won't have to raise additional capital as it absorbs mortgage-related losses.
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| Forex – USD/JPY Down Toward The End Of U.S. Session Posted: 17 Jun 2011 01:40 PM PDT Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/JPY was trading at 80.03, down 0.77% at time of writing.<br/><br/> The pair was likely to find support at 80.01, today’s low, and resistance at 81.06, Wednesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Earnings Preview: Housing Sales In Focus Posted: 17 Jun 2011 01:35 PM PDT Earnings Preview 6/17/11
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| Oracle Aiming To Cash In On Android Posted: 17 Jun 2011 01:35 PM PDT Last year, Oracle Corp (NASDAQ:ORCL) filed a lawsuit against Google Inc (NASDAQ:GOOG) claiming damages for patent and copyright infringements. However, the case, to be heard in November this year, has recaptured headlines because of Oracle's filing, which stated that the claim is for billions of dollars.
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| HPQ Expedites Guam Judicial Services Posted: 17 Jun 2011 01:35 PM PDT Services from Hewlett-Packard Company (NYSE:HPQ) have been selected by the Judiciary of Guam to update its court case management system.
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| Posted: 17 Jun 2011 01:35 PM PDT Jamba Inc. (NASDAQ:JMBA) remains on track to expand further in its first international market, South Korea. It recently announced the opening of its fifth store in that country. The store is located at Seocho, a popular residential and commercial district in Seoul near the South Korean Supreme Court, which makes the site strategically fit for business expansion.
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| Forex – EUR/USD Up Toward The End Of U.S. Session Posted: 17 Jun 2011 01:25 PM PDT Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4305, up 0.72% at time of writing.<br/><br/> The pair was likely to find support at 1.4074, Thursday’s low, and resistance at 1.4498, Tuesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Hot Option Plays: Bears Stop For A Pic-a-Nic Posted: 17 Jun 2011 01:18 PM PDT Cusick’s Corner
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| U.S. Markets Mixed At Close; Dow Jones Up 0.36% Posted: 17 Jun 2011 01:10 PM PDT Forex Pros – U.S. stocks were mixed after the closing bell on Friday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 0.36%, the S&P 500 index gained 0.30%, while the Nasdaq 100 index declined 0.32%.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a seasonally adjusted 71.8 last month from 74.3 in the preceding month.<br/><br/>Analysts had expected UoM consumer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Novartis Vaccine For FDA Review Posted: 17 Jun 2011 01:05 PM PDT Novartis (NYSE:NVS) recently announced that its supplemental Biologics License Application (sBLA) to broaden the use of its meningitis vaccine Menveo to infants and toddlers (aged 2-24 months) has been accepted for review by the US Food and Drug Administration (FDA). Menveo is a quadrivalent conjugate vaccine for the prevention of the A, C, Y and W-135 strains of meningococcal meningitis. Menveo is already approved for use in individuals aged 2-55 years in the US. The vaccine is approved in Europe … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 17 Jun 2011 01:04 PM PDT More Facebook Drama
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| Basel Fee: Protector Or Inhibitor? Posted: 17 Jun 2011 12:55 PM PDT In desperate attempts to stave off another global financial crisis and restore public confidence, the Basel Committee on Banking Supervisionare is mulling over imposing a capital surcharge on the world's largest banks if they grow bigger. The target banks are those that could threaten global economy if they collapse, Bloomberg reported on Thursday.
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| Campbell’s Risk-Reward Balances Posted: 17 Jun 2011 12:55 PM PDT We are maintaining a long-term ‘Neutral’ recommendation on Campbell Soup Company (NYSE:CPB) with a target price of $35.00 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term ‘Hold’ rating on the stock.
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| 40 Yrs. Of Drug War Failure: LEAP’s Neill Franklin Posted: 17 Jun 2011 12:55 PM PDT Related: The number of casualties from the War on Drugs in Mexico is estimated to be 40,000 since 2006, according to some sources. At the current rate of 10,000 deaths per year, the number of Mexicans killed in its drug war will soon approach the number of Americans killed in the Vietnam … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Companies Leaving California In Record Numbers Posted: 17 Jun 2011 12:49 PM PDT California currently ranks #49 among U.S. states for “business tax climate” (Tax Foundation) and #48 for for “economic freedom” (Mercatus). It shouldn’t be any surprise then that companies are leaving the “Golden State” in record numbers this year (see chart above) for “golder pastures” and more business-friendly climates in other states. From Joe Vranich: “Today, California is experiencing the fastest rate of disinvestment events based on public domain information, closure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – GBP/USD Up During The U.S. Session Posted: 17 Jun 2011 12:45 PM PDT Forex Pros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> GBP/USD was trading at 1.6174, up 0.11% at time of writing.<br/><br/> The pair was likely to find support at 1.6079, Thursday’s low, and resistance at 1.6442, Tuesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Abbott’s Bardoxolone In Phase III Posted: 17 Jun 2011 12:35 PM PDT Abbott Labs (NYSE:ABT) and partner Reata Pharmaceuticals, Inc. recently commenced a pivotal phase III study with bardoxolone methyl. Bardoxolone methyl's safety and efficacy will be evaluated in patients with chronic kidney disease and type II diabetes.
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| Posted: 17 Jun 2011 12:35 PM PDT The Cheesecake Factory Inc. (NASDAQ:CAKE) recently announced its plan to double its domestic cheesecake factory units from the current 150.
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| Alkermes Intros Study On Depression Posted: 17 Jun 2011 12:35 PM PDT Alkermes Inc. (NASDAQ:ALKS) announced initiation of an early-stage study of pipeline candidate ALKS-5461 for treating patients suffering from treatment-resistant depression (TRD). ALKS-5461 is a combination of Alkermes' another pipeline candidate ALKS-33 (an oral opioid modulator) and buprenorphine.
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| USD/CHF Ends Week Maintaining Short-term Bullish Momentum Posted: 17 Jun 2011 12:34 PM PDT USD/CHF Possibly in Wave C of a Zig Zag Correction (6/14) Short-Term to Medium-Term- The USD/CHF did a 50% retracement of this week's rally and found some support. This overlapped the 0.8464 pivot from earlier but I believe this does not fully invalidate the chance of an impulse wave development. Even if it overlapped, a nested 3rd wave can be developing. Therefore, the structure is still unclear whether we are already done with a corrective wave or not.
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| Why Does Wall Street Hate Silicon Valley? Posted: 17 Jun 2011 12:18 PM PDT By Chris O'Brien, Mercury News Columnist
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| Forex – USD/CAD Down In U.S. Trade Posted: 17 Jun 2011 12:10 PM PDT Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/CAD was trading at 0.9805, down 0.08% at time of writing.<br/><br/> The pair was likely to find support at 0.9672, Wednesday’s low, and resistance at 0.9898, Thursday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 17 Jun 2011 12:05 PM PDT SurModics Inc. (NASDAQ:SRDX) received a blow when Cordis Corporation, a division of Johnson & Johnson (NYSE:JNJ), announced that it will stop manufacturing Cypher and Cypher Select Plus sirolimus-eluting coronary stents by year end.
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| Southern Union To Unite With ETE Posted: 17 Jun 2011 12:05 PM PDT Southern Union Company (NYSE:SUG) has entered into a definite agreement with Energy Transfer Equity, L.P. (NYSE:ETE) under which the latter has agreed to buy Southern Union for $7.9 billion, including $3.7 billion of existing debt.
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| Statoil Reaches Leismer Milestone Posted: 17 Jun 2011 12:05 PM PDT Norwegian operator Statoil ASA (NYSE:STO) has reached a production milestone of 1 million barrels of oil at its Leismer Demonstration Project (LDP) in northern Alberta, Canada.
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| Masimo’s Agreement With Philips Posted: 17 Jun 2011 12:05 PM PDT Masimo Corporation (NASDAQ:MASI) recently announced a non-exclusive, long-term agreement with Philips (NYSE:PHG), under which Philips will utilize Masimo's Rainbow SET know-how. Masimo anticipates that it will launch future joint development efforts. Subsequently, Philips products will integrate Masimo's Rainbow SET technology.
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| Leading Economic Index Points To Ongoing Growth Posted: 17 Jun 2011 11:50 AM PDT The Conference Board reported today that its Leading Economic Index (LEI) increased 0.8% in May to 114.7 (see chart above), with the largest positive contributions to the index coming from the interest rate spread, consumer expectations and building permits. The LEI has now increased in 25 out of the last 26 months starting in April 2009, with the only monthly decrease occurring in April of this year. According to economist Ataman Ozyildirim at The Conference Board: "The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – EUR/USD Up In U.S. Trading Hours Posted: 17 Jun 2011 11:45 AM PDT Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4308, up 0.74% at time of writing.<br/><br/> The pair was likely to find support at 1.4074, Thursday’s low, and resistance at 1.4498, Tuesday’s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Big Payday For Pre-earnings Put Buyer On RIMM Posted: 17 Jun 2011 11:06 AM PDT Big payday for pre-earnings put buyer on RIMM
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| Big Payday For Pre-earnings Put Buyer On RIMM Posted: 17 Jun 2011 11:04 AM PDT Big payday for pre-earnings put buyer on RIMM
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| Is Gold About To Have Its Status Upgraded? Posted: 16 Jun 2011 10:00 PM PDT Central banks have been on a gold buying spree. In "The Rising Financial Gold Market," I highlighted how countries, such as Mexico, Russia and Thailand, were adding to their gold reserves. And in 2010, central banks became a net buyer of gold for the first time in 21 years, according to the World Gold Council.
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