October 2, 2013
- in Uncategorized by schooloftrade
Morning Prep 10/02/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· President Obama says there is ‘no
negotiation’ over debt ceiling and urges Republicans to re-open the US Govt
negotiation’ over debt ceiling and urges Republicans to re-open the US Govt
· US Treasury Secretary Lew: the US has until October 17th
before the reserves run out
before the reserves run out
· US Fitch Rating Agency: Govt shutdown isn’t cause for a downgrade in
rating, however there will be if this continues too long
rating, however there will be if this continues too long
· US 1-year and 5-year bonds have
inverted yield curves, first time since 2011
inverted yield curves, first time since 2011
· ECB Expected to leave rates unchanged
this morning in their meeting
this morning in their meeting
· Italy anticipates that Prime Minister
Letta will win the confidence vote
Letta will win the confidence vote
· Traders continue to prepare for
Friday’s Non-Farm Payroll news, amid rumors that it may not be released at the
same time due to the Govt Shutdown
Friday’s Non-Farm Payroll news, amid rumors that it may not be released at the
same time due to the Govt Shutdown
· Fed Speakers on the Calendar in the
US this morning; Bernanke, Rosengren and Bullard
US this morning; Bernanke, Rosengren and Bullard
· E-Mini S&P -.66%
· Crude Oil -.25%
· FDAX -.50%
· Euro -.05%
Economic News on the
schedule today:
schedule today:
Through
early hours of Wednesday ET, no progress was made in reaching a budget deal.
The Treasury Department indicated that its best estimate for reaching the debt
ceiling is October 17–an issue in addition to enacting a budget for the new
fiscal year starting October 1 and would end the partial shutdown of federal
operations until the debt ceiling is hit or raised. Currently, it appears to be
low odds that the employment situation report will be released this Friday.
early hours of Wednesday ET, no progress was made in reaching a budget deal.
The Treasury Department indicated that its best estimate for reaching the debt
ceiling is October 17–an issue in addition to enacting a budget for the new
fiscal year starting October 1 and would end the partial shutdown of federal
operations until the debt ceiling is hit or raised. Currently, it appears to be
low odds that the employment situation report will be released this Friday.
8:15am EST: ADP
Employment Report
Employment Report
10:30am EST: Crude
Oil Inventories
Oil Inventories
12:00pm EST: Eric
Rosengren Speaks
Rosengren Speaks
3:00pm EST: Ben
Bernanke Speaks
Bernanke Speaks
