Longer Dated US Treasuries
Ahead of the Federal Reserve's two-day policy meeting, reports show investors
increased their positions in longer-dated U.S. Treasuries holdings. In nearly
five months, this is the highest number of clients coming forth stating they
were long in their duration, in nearly five months. Investors add duration or
interest rate risk to their portfolios by holding more longer dated Treasuries
in anticipation of a market rally when longer-dated bonds generate higher
returns than shorter-dated debt. Longer-dated yields rose to 14-month highs last
week, leading the rebound in Treasuries longs. Early Tuesday benchmark 10-year
Treasury notes traded 7/32 lower in price, with a yield of 2.203%, up 2.5 basis
points from late Monday. A week ago the 10-year yield hit a 14-month high of
An anti-psychotic medication produced by Eli Lilly & Co (LLY) - Zyprexa - is
under investigation by the U.S. Food and Drug Administration due to two
"unexplained” deaths from intramuscular injections of the antipsychotic drug.
Within 3-4 days after receiving an appropriate dose of the drug, the patients
died - well after the 3-hour post-injection monitoring period required under the
Zyprexa Relprevv Risk Evaluation and Mitigation Strategy (REMS). Under REMS,
patients are required to receive the Zyprexa Relprevv injection at a
RIMS-certified health care facility, to be continuously monitored at the
facility for at least 3 hours following an injection and to be accompanied home
from the facility. During clinical trials that supported approval of Zyprexa,
cases of post-injection delirium sedation syndrome (PDSS) were observed within 3
hours after administration of Zyprexa but, no deaths due to PDSS. PDSS is a
serious condition in which the drug enters the blood too fast following an
intramuscular injection, causing greatly elevated blood levels with marked
sedation possibly including coma and/or delirium. After their deaths, very high
olanzapine blood levels were found in both patients. High doses of olanzapine
can cause delirium, cardiopulmonary arrest, cardiac arrhythmias, and reduced
level of consciousness ranging from sedation to coma.
M&T Money Laundering
According to court filings on Tuesday, M&T Bank Corporation's (MTB) has
compliance problems with combating money laundering. The Federal Reserve Bank of
New York said the problem has impacted the M&T's merger with Hudson City
Bancorp. Inc. In a recent inspection, M&T had deficiencies in its compliance
risk management program in conforming to anti-money laundering laws and has
required the bank to submit a new compliance program within 60 days on specific
action. Independent consultant is required by the Fed so that all accounts and
transactions related to high-risk customers in the last half of 2012 are
New House Construction
U.S. Commerce Department reported on Tuesday that construction on new U.S.
houses rebounded by 6.8% during May to a seasonally adjusted annual rate of
914,000 after a large drop in the previous month. Starts for single-family homes
during May increased 0.3% to a seasonally adjusted annual rate of 599,000.
Structures with at least five units surged by 21.6% to a rate of 315,000.
Building permits fell by 3.1% during May to a rate of 974,000.
The U.S. Labor Department said Tuesday that during May, U.S. consumer prices
rose a seasonally adjusted 0.1% mainly because of higher costs of housing,
electricity and natural gas. Even though the cost of gasoline was flat in
adjusted terms, energy prices rose 0.4%. Core CPI, which excludes volatile food
and energy costs, rose 0.2%. Over the past 12 months, consumer prices have risen
an unadjusted 1.4% and by 1.7% on a core basis. Real or inflation-adjusted
hourly wages fell by 0.2% in May while real wages rose a scant 0.5% over the
past 12 months.
One week trial
Day Trading Rooms
for stocks, futures, forex and options.
focused on NYSE, NASDAQ and AMEX.
focused on YM, NQ, ES and TF.
Moderators focus on New York trading session for EURUSD, GBPUSD, USDCHF, USDCAD, USDJPY,
GBPJPY, EURJPY, EURAUD, AUDJPY, CHFJPY, EURCAD, GBPCAD and AUDUSD.
focus on CBOE.
Subscription Offers with rates as low as $75 per month plus, weekly
Free Day Trading e-BOOK
with confirmed sign-up to our Free
Traders Training Programs
available for stocks, futures, forex and options traders.
Detailed historic performance for daily calls on our
Opt-in to our
sent via email, first trading day of the week. MarketNews includes recap of market
from previous week and what is ahead for the upcoming trading week.
provides new trading subject every month.
Free Chat Rooms
- penny stocks, options, stocks, futures and forex! Chat with other traders any
time, day or night, 24-hours a day.
Milestone for Millennium-Traders, we are extremely proud to be one of the top 1%
most viewed LinkedIn profiles for 2012.
June 18, 2013