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Aug 28 - Fed George: Prepared for Rate Hike, Despite Selloff

 

 

EMOTION MOVING MARKETS NOW: 12/100 EXTREME FEAR

PREVIOUS CLOSE: 5/100 EXTREME FEAR

ONE WEEK AGO: 11/100 EXTREME FEAR

ONE MONTH AGO: 17/100 EXTREME FEAR

ONE YEAR AGO: 33/100 FEAR

Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 14.54% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.

Market Volatility: EXTREME FEAR The CBOE Volatility Index (VIX) is at 26.10, 63.20% above its 50-day moving average and indicates that investors are concerned about the near-term values of their portfolios.

Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear.

PIVOT POINTS

EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBPGBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY 
 

S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) Euro (6E) |Pound (6B) 

EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL) 

CRUDE OIL (CL) | GOLD (GC) 

 

MEME OF THE DAY – IT’S THE JERKS 

 

UNUSUAL ACTIVITY

LVS SEP 40 PUT ACTIVITY on offer @$.80 4500+ Contracts

GPRO OCT 48 PUT ACTIVITY @$5.00 right by offer 1944 Contracts

HZNP SEP 30 CALLS block @$1.45 on offer 3900 Contracts

CBS OCT 47.5 CALL Activity @$1.20 on offer 3700+ Contracts

ABT SEP 44 CALL ACTIVITY ON THE OFFER @$1.05-1.06 5100+  Contracts

RYAM Director Purchase 5,000 @$6.9

TEP Director Purchase 9,000 @$44.5

ABUS Director Purchase 1,000 @$6.95

CVX Executive Vice President Purchase 2,000 @$ 73.529  Purchase 500  @$72.37

More Unusual Activity…


HEADLINES

 

PBOC Yao: Fed should delay hike, could push some EM into crisis --Rtrs

US GDP Annualized (QoQ) Q2 S: 3.70% (est 3.20%; prev 2.30%)

US GDP Price Index (QoQ) Q2 S: 2.10% (est 2.00%; prev 2.00%)

US Personal Consumption (QoQ) Q2 S: 3.10% (est 3.10%; prev 2.90%)

US Core PCE (QoQ) Q2 S: 1.80% (est 1.80%; prev 1.80%)

Fed George: Prepared for rate hike, despite selloff --CNBC

Fed George: Market strains warrant caution on rate hikes --Rtrs

Atlanta Fed Q3 GDPNow Forecast (27 Aug): +1.4% (prev +1.3%)

US Pending Home Sales (MoM) Jul: 0.50% (est -1.00%; rev prev -1780%)

US Pending Home Sales NSA (YoY) Jul: 7.20% (est 8.30%; prev 11.10%)

US Kansas City Fed Manufacturing Activity Aug: -9 (est -4, prev -7)

US EIA NatGas Storage Change Aug-21: 69 (est. 60, prev. 53)

US Initial Jobless Claims Aug-22: 271K (est 274K; prev 277K)

US Continuing Claims Aug-15: 2269K (est 2248K; rev prev 2256K)

Abbott lines up $25bn bid for St Jude --FT

 

GOVERNMENTS/CENTRAL BANKS

PBOC Yao Yudong: Fed should delay hike, could push some EM into crisis --Rtrs

Fed George: Prepared for rate hike, despite selloff --CNBC

Fed George: Market strains warrant caution on rate hikes --Rtrs

Atlanta Fed Q3 GDPNow Forecast (27 Aug): +1.4% (prev +1.3%)

Fed buys $6.6bn MBS in the week, sells none --Livesquawk

El-Erian: QE4 isn't on the cards --BBG View

ECB Coeure: The euro is irreversible despite its faults --Rtrs

BoE publishes concerns over bond liquidity --FT

BoE Gov Carney's rate rise comments prompted homebuying in July --CityAM

BoJ Kuroda: BoJ can still achieve inflation target --BBG

BoJ Kuroda: China slowdown unlikely to hit Japan exports much --Rtrs

ESM Regling: Threat of Grexit is still there --BI

Germany approves Greek bailout, Athens prepares to tighten belt --Dispatch Times

GEOPOLITICS

Chinese Navy conducting live-fire drills in East China Sea --Xinhua via BBG

Russia to assume UN Security Council chairmanship on 1 September --TASS

FIXED INCOME

Fed RRP draws $71.3bn, 34 bidders (prev $68.7bn, 31 bidders) --Livesquawk

OVERNIGHT: China said to sell Tsys as dollars needed to back yuan --BBG

China confirms it warned US it would sell Tsys at $50bn per month --ZH

BankRate: US mortgage rates fall amid wild up-and-down market swings

Analysts: Bund yield seen staying below 1% until March --BBG

Eonia closes at -0.127% (prev 0.129%) --Livesquawk

FX

USD: Dollar rises on solid growth, jobless claims numbers --WSJ

JPY: Yen weaker as dollar srtonger on US data --Rtrs

EUR: Euro as new haven moves opposite to stocks by most in decade --BBG

GBP: Pound gains vs euro as focus turns to cbank policy --BBG

GBP: Pound sees fortunes reverse this week --MW

COMMODITY FX: Commodity Currencies Rise Amid Risk Appetite --LSE

AUD: Westpac says Australian Dollar's artificial support will fade --PSL

CNY OVERNIGHT: China said to sell Tsys as dollars needed to back yuan --BBG

ENERGY/COMMODITIES

CRUDE: WTI futures settle 10.25% higher at $42.56 per barrel --Livesquawk

CRUDE: Brent futures settle 10.25% higher at $47.56 per barrel --Livesquawk

CRUDE: Oil rebounds to trade back above $40 a barrel --MW

METALS: Gold prices fall on robust US GDP data --WSJ

METALS: Copper soars over 4% as base metals stage stunning recovery in London trade --BS

COMMODS: Commodities strike six-year lows, set to enter new cycle --F24

COMMODS COMMENT: TD: 'Sell energy' trade has it wrong on nat gas stocks --FP

EQUITIES

M&A: Abbott lines up $25bn bid for St Jude --FT

M&A: Abbott says it is not pursuing St. Jude --MW

COMMENT: Shiller: Rising Anxiety That Stocks Are Overpriced --NYT

EARNINGS: Dollar General earnings above expectations, sales miss --WSJ

EARNINGS: Tiffany Q2 Sales Down 2%, Earnings Fall 16% --Forbes

AUTOS: Tesla rallies after top rating from consumer reports --MW

INDUSTRIALS: Boeing hits 777X jet milestone, says program on schedule --Rtrs

FUNDS: Fidelity is considering dropping two giant partners --CNBC

CRA: Fitch Upgrades Best Buy's IDR to 'BBB-'; Outlook Stable

TECH: Google says EU antitrust charges are unfounded --Rtrs

TECH: Apple fast closing in on wearable device maker Fitbit --IDC

TECH: Apple to debut new iPhone 9 Sept --FT

EMERGING MARKETS

China will struggle to meet fiscal revenue targets in 2015 --Xinhua via BBG

OVERNIGHT: PBOC said to have intervened in CNY swap market --WSJ

BAML: Sell into the rally, the Shanghai Composite is going to tank --BI

Ukraine NBU cuts rates by 3ppts to 27% --IFX

 

Ukraine agrees to 20% principal writedown with main creditors --BBG