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News Articles and Commentary of Financial Interest- Tuesday, 7/2 ... Updated: 20:30 PDST
U.S. Factory Orders Rose in May on Machinery, Computers "Orders placed with U.S. factories rose in May, reflecting broad-based gains that signal manufacturing is stabilizing." ⇒ Link to Bloomberg Article
Stocks up after data for factory orders, car sales "reports showed solid growth for car sales and factory orders" ⇒ Link to "Market Watch" Article
GM & Ford Top Estimates as U.S. Sales at 66-Month High "Americans are buying new cars and trucks at the fastest rate since 2007" ⇒ Link to Bloomberg Article
Stocks Rise as Treasuries Fluctuate Before Fed Speeches "U.S. stocks gained for a second day while 10-year Treasury notes swung between gains and losses" ⇒ Link to Bloomberg Article
Treasuries Trade at Almost 1-Week High Before Fed’s Dudley Talks "It all comes down to jobs... " ⇒ Link to Bloomberg Article
Fed eyes rules beyond Basel as vote on capital nears "The Federal Reserve on Tuesday laid out plans for future U.S. bank reforms that go beyond an international agreement" ⇒ Link to Reuters Article
Sheila Bair: U.S. Banks Facing Interest-Rate Risks "U.S. banks face potential risks from a jump in interest rates" ⇒ Link to Bloomberg Article
Analysis - Investors buy into software-defined networks, will customers follow? "Enter a new technology: software-defined networking" ⇒ Link to Reuters Article
Junk-Loan Rates Soar on Record 43% on Debt as Buyers Balk "Investors are demanding more in interest to fund the $550 billion market for leveraged loans" ⇒ Link to Bloomberg Article
US STOCKS-S&P 500 posts best first half since 1998 "The S&P 500 ended Friday's session with its strongest first half of any year since 1998" ⇒ Link to Reuters Article
International:
European shares suffer first quarterly loss in a year "hit particularly hard last week..." ⇒ Link to Reuters Article
Hong Kong shares reverse course, fall as Chinese banks slide "Hong Kong shares fell for the first time in four days on Tuesday" ⇒ Link to Reuters Article
Nikkei climbs for 4th straight day on a weaker yen "The Nikkei share average climbed 1.8 percent to finish above 14,000" ⇒ Link to Reuters Article
Thanks to all who have added links (see below) to the original post!
Market heading lower due to concern about Egypt. Oil co's doing well (COP, CVX, etc) WTI Crude hovering just under $100. I'd be rather concerned about the market in the short-term with oil at these levels.
Headline from Seeking Aipha. More problems in Brazil
Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued... Tuesday, July 2, 3:20 PM ET Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued plunge in Elke Batista's OGX Petroleum (OGXPY.PK -24.8%). Not helping is today's report of a 2% decline in industrial production in May, about double the estimates. The good news is a drop in swap rates as traders place bets the central bank could stop hiking rates. The Brazil Index ETF (EWZ -3.6%), the Small Cap ETF (BRF -3.8%).
Comments
http://guggenheimpartners.com/perspectives/macroview/a-roadmap-for-rates
http://www.zerohedge.com/news/2013-07-02/oil-tops-99-morsi-rebuffs-military-33-hours-and-counting-coup-live-feed
Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued...
Tuesday, July 2, 3:20 PM ET
Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued plunge in Elke Batista's OGX Petroleum (OGXPY.PK -24.8%). Not helping is today's report of a 2% decline in industrial production in May, about double the estimates. The good news is a drop in swap rates as traders place bets the central bank could stop hiking rates. The Brazil Index ETF (EWZ -3.6%), the Small Cap ETF (BRF -3.8%).
http://www.reuters.com/article/2013/07/02/us-funds-investing-pimco-idUSBRE9610XM20130702?feedType=RSS&feedName=businessNews
Kyle Bass, If China doesn't change...