Noon Report
Today’s Releases
Dallas FED Manufacturing Index: 10.6 vs. 4.5 prior
1:00e—The US Treasury will auction $20 bln in 3-month bill and $18 bln in 6-month bills
US Treasury/ Fixed Income
The FED added $8.75 bln in overnight REPOS; FED Funds are trading at 4.125%.
Oct. FED Fund Futures now factor in a 96% chance of a 25 BPS cut and a 4% chance of a 50 BPS cut when the FOMC meets on Halloween. FED Funds have averaged around 4.5% at day’s settle since the FOMC cut 50 BPS on Sept. 18th.
US Treasury will auction $20 bln in 3-month bill and $18 bln in 6-month bills at 1:00e
Bonds pointed lower for most of the day as equities picked up strength; turning flat as lunchtime approaches.
30-yr. yield: down .0294 to 4.67%
10-yr. yield: down .0157 to 4.38%
2-yr. yield: up .0164 to 3.79%
6-month yield: up .01 to 4.05%
3-month yield: up .07 to 4.01%
4-week yield: up .07 to 4.02%
Equities
With no major economic data to speak of, Equities are higher across the board as Wednesday’s FOMC meeting draws closer.
DOW Futures: up 32 to 13880
S&P Futures: up 1.75 to 1544
Nasdaq Futures: up 6.5 to 2213
Forex
The USD is mixed vs. most major currencies; hitting a new record low in the USD Index and vs. the EUR.
USD Index down .17% to 76.891
EUR/USD up .1% to 1.4405
USD/JPY up .5% to 114.74
Cable up .4% to 2.06
USD/CHF up .12% to 1.1657
USD/CAD down .65 to .9559
Commodities
Energies are higher across the board; metals are mixed
Crude up 1% to 92.77
Unleaded up 1.52% to 230.85
Heating Oil up 1% to 245.68
Natural Gas up 1.93% to 7.355
Gold up .75% to 793.20
Silver up 1.1% to 14.435
Platinum down .44% to 1462.60
Copper down .35% to 352.50