Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (1501)	5/4/2000 9:54:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

Futures World News - May 04, 2000 09:27 May 4-MAR-- [B] BRIDGE ALERT:EU DEBT: Greenspan: No comment on econ, Fed policy Washington/London--1325 GMT--May 4 Tel: +44-20-7842-4158 Greenspan made no comment on the economy or Fed policy in prepared remarks to a Chicago Fed conference. Instead, Greenspan warned against complacency in the derivatives market, noting that market hasn't been tested by an economic slump. He said the Fed cannot solve all financial disruptions and added that it's a "misperception" that some US banks are too big to fail. He said banks should weigh stress scenarios in their risk models. He defended the 50% capital charge for merchant banking. ~~~~~~~~~~~~~~~~~~ May 4-MAR-- [B] US DEBT FUTURES ALERT: A subdued response to Greenspan BridgeNews--Chicago/New York, Thursday, May 4 Central Time ------------------------------------------------------------------------ 0830: Jun bonds slipped a couple of ticks after the Greenspan one-liners hit the newswires, but traders said that so far, the market has shown very little response to the Fed chairman's speech. "We haven't done much at all on Greenspan. The biggest thing so far this morning is big trades going through the 5-year note pit," one floor broker said. Morgan Stanley sold about 4,000 Jun 5-year notes, while Barclays sold 2,000 Jun contracts. Fuji and Merrill Lynch each bought about 1,000 Jun 5-year note futures. 0735: Bond futures were off to a relatively calm start, beginning the open outcry session in line with overnight trends. Eurodollar futures continued to sink, dipping to fresh three-year lows. At the CBT, most of the early large-lot trades were actually in the 5-year note pit, with Fuji buying 1,000 Jun contracts and Morgan Stanley selling 1,000. Open interest in bond futures rose again Wednesday, climbing an estimated 4,083 contracts to 478,439 on volume of 293,347. Open interest in 10-year notes fell hard, however, sinking 10,474 contracts to 608,024 on volume of 165,234. 0700: Jun bonds were last trading down 4/32 at 94 21/32 on Project A after-hours action, in the wake of Wednesday's collapse. Traders probably will take their cue after the 0825 CT speech in Chicago by Federal Reserve Chairman Alan Greenspan. Pivot point support for Jun bonds is pegged at 95 22/32 and 96 19/32, with resistance at 93 24/32 and 97 22/32. On the calendar (Central Time): --0730: State unemployment claims for week ended Apr 29 (Week ended Apr 22: +26,000 at 283,000; Forecast: 268,000) --0730: Q1 2000 productivity and costs (preliminary); (Q4 1999 revised: non-farm +6.5%, labor costs -2.5%) --0825: Federal Reserve Chairman Alan Greenspan speaks in Chicago on the banking evolution to the Chicago Conference on Bank Structure and competition --0900: Mar housing completions (Feb: +7.5% to 1.712 mln units) --1000: U.S. Treasury Secretary Lawrence Summers speaks at a press conference organized by House Democrats to announce their support for President Bill Clinton's financial privacy proposal --1330: Treasury announces size of 13- & 26-week bills --1350: Federal Reserve Vice Chairman Roger Ferguson and Treasury Undersecretary for Domestic Finance Gary Gensler address a Chicago Fed conference on banking --1400: Apr Treasury strips report on government securities (Mar: -$1.51 bln to $203.453 bln) --1530: Money supply statistics (Week ended Apr 17: M1 +$9.3 bln, M2 +$14.6 bln, M3 +$12.4 bln) --1530: San Francisco Federal Reserve Bank President Robert Parry speaks in Seattle to Seattle Society of Financial Analysts on the economic outlook --Department store retail sales for April