The News Review:
- Treasurys slide before 10-year-note auction Fed decision
- Southwest ups the ante in Frontier auction
- Venezuela Wants Carabobo il Auction This Year – Report
- The Day Ahead: Trade Balance Budget Auction FMC Meeting
- Futures Flat Ahead of Fed Decision Bond Auction
- US Treasury 4-Wk Bills: 0.150%; 8.57% At High
Treasurys slide before 10-year-note auction Fed decision
MarketWatch
The auction is the second of three this week in the Treasury Department’s quarterly refunding. “There will be some angst with the Fed ahead and bonds tomorrow” said John Spinello Treasury strategist at primary dealer Jefferies & Co. one of the 18 primary dealers that trade with the Fed and are required to bid at government auctions.
Southwest ups the ante in Frontier auction
United Press International
11 (UPI) — Southwest Airlines dramatically increased its offer for Frontier Airlines filing a binding bid of $170 million for the bankrupt Denver carrier. Southwest previously submitted a non-binding bid of $113 million the Fort Worth (Texas) Star-Telegram reported Tuesday. Republic Airlines owners of Chautauqua Republic and Midwest airlines also submitted a bid in New York bankruptcy court. Southwest’s bid includes buying 80 percent of Frontier’s fleet of Airbus planes which it will then replace with Boeing 737s over a two year period the newspaper said. Republic’s plan calls for keeping Frontier largely intact The Denver Post reported Monday.
Venezuela Wants Carabobo il Auction This Year – Report
CNNMoney.com
“ur goal is for it to take place this year” Rafael Ramirez said in aninterview published Tuesday in El Nacional newspaper. He added that companies interested in bidding have been busy formingconsortiums in which they would bid on the oil blocks together to reduce start-up costs and share equipment. Still Ramirez said the government “isn’t in any huge rush” to wrap up theauction. He said the upward move in oil prices is working in the government’sfavor as it seeks out top-notch global oil companies that can transform the tar-like crude into marketable oil and gasoline.
The Day Ahead: Trade Balance Budget Auction FMC Meeting
MortgageNewsDaily.com
7% jump in oil prices in June could help to offset the downward pressures from demand. As a result the trade deficit could expand after contracting in May. ”1:00 ? The Treasury Department will auction $23 billion 10 yr Treasury notes. This auction has potential to influence mortgage rates2:00 ? Hopefully markets don’t give much attention to Treasury’s Budget Statement as it’s hard to be encouraged knowing that from ctober to June the government created a fiscal debt of $1. Bloomberg News notes that over the past ten years the July deficit has averaged $31. 7 billion while the average for the past five years has been $49.
Futures Flat Ahead of Fed Decision Bond Auction
FXBusiness
The homebuilders were also rallying after luxury home builder Toll Brothers’ (TL) third-quarter revenue solidly beat estimates sending its shares up 11%. Shares of Centex (CTX) and Pulte Homes (PTH) which are currently in the process of merging rose as well. Wall Street will get results from a closely-watched 10-year bond auction today at 1 p. The 3-year bond auction yesterday showed strong demand by foreign investors so traders will be watching to see if longer-dated debt will carry a similar amount of demand. In the commodity markets oil gained 95 cents to $70. 39 a barrel while gold futures gained $1.
Related from Mexview: Mexico Stocks Close Flat Ahead f US Data Wave; Peso Firms
US Treasury 4-Wk Bills: 0.150%; 8.57% At High
Wall Street Journal
Treasury awarded $35. 00 billion in four-week bills at Tuesday’s auction at a high rate of 0. The Treasury received bids totaling $119. 32 billion and accepted $35.