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All Eyes on Bank of Japan's Monetary Policy Meeting Tonight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Most Chinese markets were closed today. The main Japanese indices lost ground in today's session despite an announcement from the Government Pension Investment Fund (GPIF) that it was overhauling its equity strategy and increasing its investment in domestic stocks. All eyes remain focused on the conclusion of the Bank of Japan meeting this evening.

US equities continued to sell off today, led by declines in financials and media stocks. Small-cap stocks continued to underperform large caps. Even though tech stocks came under pressure today, a number of high-growth momentum stocks showed impressive relative strength today after losing more than 15% in recent months. Bank stocks such as Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS), and Bank of America (NYSE:BAC) appeared to be nearing levels of selling exhaustion, however.

Emerging markets continued to perform strongly, particularly Brazil's Ibovespa, which rose 2.10% in today's session. The MSCI Emerging Markets Index gained 0.47% today.

US Treasuries also continued their uptrend from Friday, with the 10-year yield reaching an intraday low of 2.68% today -- four basis points lower. Crude oil was down 1.13% at its intraday low, but rallied back strongly following the close of pit trading.

Tomorrow's Financial Outlook

The only scheduled economic report of note tomorrow is February JOLTS Job Openings. Although it's released with a significant delay, it's one of the more closely followed labor market indicator by economists. The Treasury will sell $30 billion of 3-year notes in the afternoon, the first of three scheduled note auctions this week.

The main event overnight for risk assets tomorrow is the culmination of the Bank of Japan monetary policy meeting. Market participants see a chance that the Bank of Japan will as much as double its ETF, sovereign bond, and real-estate investment trust purchases to help ease the effects of the government's recent sales tax increase.

Alcoa (NYSE:AA) will unofficially kick off the first quarter's earnings season with its report tomorrow after the close. Analysts are expecting EPS of $0.03 and revenues of $5.55 billion.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

All Eyes on Bank of Japan's Monetary Policy Meeting Tonight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Most Chinese markets were closed today. The main Japanese indices lost ground in today's session despite an announcement from the Government Pension Investment Fund (GPIF) that it was overhauling its equity strategy and increasing its investment in domestic stocks. All eyes remain focused on the conclusion of the Bank of Japan meeting this evening.

US equities continued to sell off today, led by declines in financials and media stocks. Small-cap stocks continued to underperform large caps. Even though tech stocks came under pressure today, a number of high-growth momentum stocks showed impressive relative strength today after losing more than 15% in recent months. Bank stocks such as Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS), and Bank of America (NYSE:BAC) appeared to be nearing levels of selling exhaustion, however.

Emerging markets continued to perform strongly, particularly Brazil's Ibovespa, which rose 2.10% in today's session. The MSCI Emerging Markets Index gained 0.47% today.

US Treasuries also continued their uptrend from Friday, with the 10-year yield reaching an intraday low of 2.68% today -- four basis points lower. Crude oil was down 1.13% at its intraday low, but rallied back strongly following the close of pit trading.

Tomorrow's Financial Outlook

The only scheduled economic report of note tomorrow is February JOLTS Job Openings. Although it's released with a significant delay, it's one of the more closely followed labor market indicator by economists. The Treasury will sell $30 billion of 3-year notes in the afternoon, the first of three scheduled note auctions this week.

The main event overnight for risk assets tomorrow is the culmination of the Bank of Japan monetary policy meeting. Market participants see a chance that the Bank of Japan will as much as double its ETF, sovereign bond, and real-estate investment trust purchases to help ease the effects of the government's recent sales tax increase.

Alcoa (NYSE:AA) will unofficially kick off the first quarter's earnings season with its report tomorrow after the close. Analysts are expecting EPS of $0.03 and revenues of $5.55 billion.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
All Eyes on Bank of Japan's Monetary Policy Meeting Tonight
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Most Chinese markets were closed today. The main Japanese indices lost ground in today's session despite an announcement from the Government Pension Investment Fund (GPIF) that it was overhauling its equity strategy and increasing its investment in domestic stocks. All eyes remain focused on the conclusion of the Bank of Japan meeting this evening.

US equities continued to sell off today, led by declines in financials and media stocks. Small-cap stocks continued to underperform large caps. Even though tech stocks came under pressure today, a number of high-growth momentum stocks showed impressive relative strength today after losing more than 15% in recent months. Bank stocks such as Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS), and Bank of America (NYSE:BAC) appeared to be nearing levels of selling exhaustion, however.

Emerging markets continued to perform strongly, particularly Brazil's Ibovespa, which rose 2.10% in today's session. The MSCI Emerging Markets Index gained 0.47% today.

US Treasuries also continued their uptrend from Friday, with the 10-year yield reaching an intraday low of 2.68% today -- four basis points lower. Crude oil was down 1.13% at its intraday low, but rallied back strongly following the close of pit trading.

Tomorrow's Financial Outlook

The only scheduled economic report of note tomorrow is February JOLTS Job Openings. Although it's released with a significant delay, it's one of the more closely followed labor market indicator by economists. The Treasury will sell $30 billion of 3-year notes in the afternoon, the first of three scheduled note auctions this week.

The main event overnight for risk assets tomorrow is the culmination of the Bank of Japan monetary policy meeting. Market participants see a chance that the Bank of Japan will as much as double its ETF, sovereign bond, and real-estate investment trust purchases to help ease the effects of the government's recent sales tax increase.

Alcoa (NYSE:AA) will unofficially kick off the first quarter's earnings season with its report tomorrow after the close. Analysts are expecting EPS of $0.03 and revenues of $5.55 billion.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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