Daily Highlights: 4.06.10

• Asian markets traded mostly higher with Australian market reaching an 18-month high.
• Australia raised its cash rate target a quarter percentage point to 4.25%.
• Bank of Japan may keep policy unchanged as Tankan shows economy improving.
• China says firmer yuan not key to U.S. trade imbalance.
• Euro declines on speculation Greece will struggle to raise further funds.
• Fed finds record-low OECD inflation.
• Interest rates climb; 10-year Treasury yield touches 4 percent for 1st time since June.
• Oil hovers above $86 near 18-month high in Asia after 2-month, 24 percent rally.
• Stocks rises, copper surpasses $8,000 per ton - signs of strengthening economies.
• US apartment rents rose during the first quarter, ending five straight quarters of declines.
• US jobs data lift European markets on return from Easter.
• Yuan Forwards rise to 10-week high after Geithner delays currency report.
• AMR Corp.: March traffic at American Airlines rose 2.5% to 10.58B revenue passenger miles.
• Bally Technologies sees FY10 EPS of $2.15-$2.25, down from prev range of $2.30-$2.55.
• Cemex to exchange as much as $3B of perpetual bonds for notes maturing in 7-10years.
• Daimler to ally with Renault, Nissan on small cars.
• Entergy Corp. cancels plans to spin off 5 of its nuclear power plants into a new company.
• HTC Corp.'s Q1 net rises 3.1% to $158.7M on a 19% jump in revs.
• Microsoft expected to unveil a pair of mobile phones in an event scheduled for next Monday.
• Noble Group plans to make an all-cash takeover offer to buy out Gloucester Coal for $117M.
• Peabody Energy raises bid for Australia's Macarthur Coal to $3.27B.
• Samsung Electronics' Q1 profit increased sevenfold on higher chip prices.
• Toyota extends recall to South Korea, 13,000 cars affected.
• US regulators plan to fine Toyota $16.4M for allegedly hiding gas-pedal problems.
• Virgin Money said Wilbur Ross has bought a 21% stake in the financial company.
• Xcel Energy to buy two Denver-area power plants from Calpine Corp. for $739M.

Economic Calendar: Minutes of FOMC Meeting to be released today.

Earnings Calendar: ADG, BDCO, CCF, FC, FSC, GIGM, GTN, PSBC.

RECENT RATING ACTIONS

AFFILIATED MANAGERS (AMG)
METLIFE INC (MET)
BASIC ENERGY SERVICES INC (BAS)
ASBURY AUTOMOTIVE GROUP INC (ABG)
TESORO CORP/TEXAS (TSO)
SCHOLASTIC CORP (SCHL)
JANUS CAPITAL GROUP INC (JNS)
MYLAN INC/PA (MYL)
TALISMAN ENERGY INC (TLM CN)
MICRON TECHNOLOGY INC (MU)
MOSAIC CO/THE (MOS)
GOODRICH PETROLEUM CORP (GDP)

Data provided by Egan-Jones Ratings and Analytics

Comments

[Edna R. Rider]

I find it oddly humorous that a lot of ZHers are convinced the 10 yr will go well north of 4%.  So, the fed/treas/GS can entirely control the stock markets but they can't do anything about Treasuries?  At least for a trade, I went very long TLT yesterday.  Maybe just a day or two or even a week but I think you underestimate who is actually in charge of these "markets."

[crosey]

Looks like you might have a nice short-term setup.  Be nimble!

[Shameful]

They can move the 10 year to 0.01% so what?  They could move the 30 year to 0%% so what?  When the Fed is the only buyer and it's apparent they are the only buyer the global market for dollars will turn south with a quickness.  The Fed can't just overwhelm everything unless they say "Okay open hyperinflation time! Inflation to infinity and beyond!".  They have to play the game and do the dance if they don't want to spook the system.  But your right if they wanted to we could have 0 yields across the board and Dow 1,000,000,000,000,000.

[orange juice]

who wants to bet the phrase 'extended period' will be used for the last time?

[King_of_simpletons]

>> China says firmer yuan not key to U.S. trade imbalance.

What's key is importing more chinese junk .....

[dcb]

Fed finds record-low OECD inflation.

the fed finds exactly what it wants to find. or doesn't find things (housing bubbles). a joke.

or ignore food and energy. if they don't find what they want they just alter the measurement

[mark456]

Good linux hosting package offered by ucvhost which not only provides the best in terms of hosting packages but also believes in truly being there for the customer, 24x7. cheap hosting Moreover , they offer unlimited bandwidth as well as nearly 1GB storage along with database maintenance, email facility along with storage, availability of sub domain and many other important features for a very low price. windows hosting Thanks forex vps