- ForexLive Americas FX news wrap: Australian dollar crushedon February 26, 2021 at 9:24 pm
Forex news for North American trading on February 26, 2021: Markets: The reverberations from yesterday's bond implosion left broader markets in a delicate state. Even as yields turned much lower, FX risk trades couldn't get a footing. How much of that was month-end and how much was jitters was open to debate.
- Late selling sends US equities into the red despite bond market reversalon February 26, 2021 at 9:05 pm
Closing changes for the main North American indexes Yields finished near the lows of the day and about 20 minutes before the close that looked like it was going to spill into equities as they quickly jumped but right at the end of the day there was some hard selling
- Bond yields fall to the lows of the dayon February 26, 2021 at 8:32 pm
That's a good sign US 10-year yields are down 8 bps to 1.43% and 30s are down 11 bps to 2.17%. Both are at or just above the lows of the day. The question is whether that's month-end rebalancing flows or if it's a sign that the bond rout is exhausted.
- The US dollar was the top performer this week and AUD laggedon February 26, 2021 at 8:15 pm
The dollar had a big week King Dollar reigned this week but it was essentially a one-day move with today's dollar rally accounting for nearly all of the weekly gain.
- WTI slumps late to settle at $61.50on February 26, 2021 at 7:56 pm
Selling continues after settlement Oil has had a spectacular run this month, gaining nearly 20% but it's finishing on a soft note. Crude is down $2.04 to $61.39 after settling at $61.50.
- Biden will let Trump-era China tech rules take effect next monthon February 26, 2021 at 6:49 pm
WSJ report The Biden administration will give the Commerce Department the ability to ban technology-related business transactions that it determines pose a national-security threat, part of an effort to secure US supply chains,
- US sanctions 76 Saudi officials over Khashoggi killingon February 26, 2021 at 6:05 pm
Laughable response Asiri is a general and advisor to Khashoggi. Biden campaigned on "making Saudi Arabia the pariah it is" and Trump said the same. Yet here we are with another slap on the wrist. I should have known better.
- Baker Hughes US oil rig count 309 vs 303 expectedon February 26, 2021 at 6:02 pm
US drilling rig data from Baker Hughes You would think the freeze up would have slowed drilling. OPEC isn't going to like to see more US drilling as it eases output. The upcoming meeting will be an interesting one.
- US will announce actions taken in response to Khashoggi killingon February 26, 2021 at 5:14 pm
US-Saudi relationship in focus At 2:30 pm ET (1930 GMT), the US State Dept will announce actions taken in response to the killing of Washington Post journalist Jamal Khashoggi.
- Atlanta Fed GDPNow Q1 tracker +8.8% vs +9.6% prioron February 26, 2021 at 4:47 pm
Down 0.8 pp since yesterday From the Atlanta Fed: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is on February 26, down from 9.6 percent on February 25. After this morning's releases from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the
- European equity close: UK stocks tumble in a rough day everywhereon February 26, 2021 at 4:38 pm
Closing changes for the main European bourses: On the week: I like the valuation of UK stocks but that chart looks like a messy head-and-shoulders and that uptrend from the Nov low looks vulnerable.
- Commodity currencies hit fresh lows on broad USD bidon February 26, 2021 at 4:32 pm
Treasury yields near the highs of the day US equities are bouncing but other markets aren't buying it. The commodity currencies are at the lows of the day, with USD/CAD breaking 1.27 and AUD/USD nearing 0.7700.
- S&P 500 rebounds into positive territory, climbing 1.4% from the lowson February 26, 2021 at 4:07 pm
Stocks back in the green The S&P 500 fell as low as 3789 but it has rebounded to 3839. That's a 1.4% bounce from the bottom. The turn came in part after the ECB's Stournaras talked about speeding up the pace of QE to counteract the rise in yields. I think that was only a small part
- Canada April-Dec budget deficit C$248B vs C10.9B a year agoon February 26, 2021 at 4:01 pm
Huge deficit in Canada These numbers are so insane they're almost comical.
- US removes key stumbling block in global deal on digital taxon February 26, 2021 at 3:35 pm
That's not good news for mega-cap tech companies Janet Yellen the G20 that the US will drop its insistence on safe harbour measures that would have made a global digital tax voluntary.