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US Mid-Morning Recap by TradeTheNews Staff - Treasury yields are moving higher this morning in conjunction with European bond yields. Strong industrial production data from France overnight, the Fed’s Poole raising his 07 growth expectations, and a WSJ note highlighting South Korea’s...

Exxon is shutting units at its 150K b/d, Torrance, CA, refinery for two months for an overhaul, effective this weekend.

Energy Market Preview by Trade the News Staff - The EIA reported yesterday that natural gas inventories fell more than expected by 224 bcf last week. The surplus of more than 6% last week in natural gas storage versus a year ago was erased, with the yoy rate falling to –1.1%. - Occidental...

Treasury Market Preview by Trade the News Staff - No economic releases are scheduled in the U.S. today. In Fed speak, Poole is speaking at 8:30 to a Management Association in New York. Later at 12:00 p.m. Pianalto speaks on the economy. And Fisher speaks on the economic outlook at 1:00 p.m...

- The European indices are currently trading higher after crude oil pushed above the $60 handle for the first time in over one month. - European government bonds are currently trading lower in the session after the ECB’s Trichet signaled yesterday that the ECB is likely to raise interest...

Asian Market Update: Japanese capital spending may have peaked - Nikkei boosted as February options settle: The Nikkei 225 was boosted today as many investors are now ready to start buying after the settlement of February Nikkei 225 options. In early afternoon trading, the Nikkei's rise...

- European government bonds closed lower in yesterday's session after the ECB's Trichet signaled that the ECB will raise interest rates to 3.75% in March. - As expected the ECB left interest rates unchanged at 3.50%. - In the post announcment press conference the ECB's Trichet said that strong...

US Mid-Morning Recap by TradeTheNews Staff - Interest sensitive stocks are seeing some weakness across the board as fears that the downturn in the sub-prime lending market could be significantly more severe than anticipated. NEW is off more than 25% after disclosing that they would have to...

Energy Market Preview by Trade the News Staff - The EIA releases its weekly natural gas inventories today. According to a major wire survey, natural gas inventories are expected to have fallen 218 bcf last week. - Lloyd's Minerals Intelligence Unit reported this morning that OPEC exports...

Treasury Market Preview by Trade the News Staff - On the U.S. calendar today are the releases of initial jobless claims, continuing claims and Wholesale Inventories for Dec. Jobless claims are expected to be 312K. Continuing claims are seen falling to 2.495M from 2.553M. Wholesale Inventories...

- The European indices are currently trading lower after a series of mixed earnings reports ahead of the open. In the UK HSBC issued a profit warning pushing shares lower at the open, while shares of Imperial Tobacco dropped after announced a deal to acquire Commonwealth Brands for $1.9B. -...

- European government bonds closed slightly higher yesterday as traders anticipate today's interest rate decision as well as comments from the ECB's Trichet. - The focus in today's session will be the ECB interest rate decision due out at 7:45 ET. A recent poll of 48 analysts showed that all...

Asian Market Update: Wage inflation worries down under boost Kiwi and Aussie - Aussie employment dipped unexpectedly in January (January employment change: -3.6K v +2.5K expected), but the jobless rate hit a new 30-year low of 4.5% (analysts had expected unemployment at 4.6%). December's...

- Indices are near session highs after the release of strong Q4 productivity numbers ahead of the open. Treasury markets have rallied from a slightly lower open with the yield on the 10-year slipping below the 4.75% level ahead of this afternoons auction results. The NASDAQ is outperforming...

Yes, the distillate estimate is a draw. Thanks for pointing that out and for viewing the posts. The estimate for nat. gas is -217 bcf.

Energy Market Preview by Trade the News Staff - The EIA releases its weekly energy inventory data today. According to a major wire survey, crude inventories are expected to have risen 2.0M barrels last week, gasoline inventories to have climbed 1.75M barrels and distillate inventories to have...

Treasury Market Preview by Trade the News Staff - On the U.S. calendar today are the releases of Nonfarm Productivity and Unit Labor Costs for Q4 at 8:30 a.m. Nonfarm Productivity is expected to have risen 2.0%, while Unit Labor Costs are seen falling to 2.1% from 2.3%. In pre-market...

- The European indices are currently trading mixed with the Dax and Cac gaining support from positive earnings reports ahead of the open. The European indices have been trading near six-year highs on speculation that there will be more consolidation over the coming months. - European government...

- European government bonds were mixed yesterday after a bit of technical trading. - The focus in today's session will fall upon German industrial production for the month of December, which is expected to fall to 0.5% from November's 1.8%. Keep in mind yesterday's December factory orders...