Wednesday, June 3, 2015

WEDNESDAY 6/3/15; ECB Rate Decision and Press Conference; OPEC Meeting; PMI Services; VRA; ADP Employment Report; Global Bond Yields Running Higher; German Bund Above 0.8%; Beige Book; FIVE

At 7:11 PM EST Tuesday evening in the States (8:11 AM Tokyo Wednesday morning local time), as Asian markets are set to begin trading, US futures are a touch higher. S&P +1. Dow +7. Nasdaq +2. Euro 1.1151. Euro/yen 124.06. Pound 1.5340. Aussie dollar 0.7767.

WTIC oil 60.90. Brent oil 65.49. Natural gas 2.70. Gold 1193. Silver 16.77. Copper 2.7385.

US Treasury yields are; 2-year 0.65%, 5-year 1.61%, 10-year 2.26%, 30-year 3.01%. The 2-10 spread is 161 bips.

Australian GDP is +0.9% besting the +0.7% expectations indicating stronger economic growth. Aussie Q1 growth is up +2.3%. The SPASX200 drops -0.9% since central 











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Fed’s Bullard, that leans hawkish, says a June rate hike announcement is unlikely. Bullard says the Fed remains data dependent and he would like to hike rates when economic data is strong not weak. Overall, Bullard is in favor of a rate hike occurring sooner than the dovish members at the Federal Reserve.

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