Thirty-Year Bond Auction Attracts Below Average Demand
The Treasury Department finished off this week’s series of announcements of the results of its long-term securities auctions on Thursday, revealing that its sale of $27 billion worth of thirty-year bonds attracted below average demand.
The thirty-year bond auction drew a high yield of 1.933 percent and a bid-to-cover ratio of 2.18.
Last month, the Treasury sold $24 billion worth of thirty-year bonds, drawing a high yield of 1.825 percent and a bid-to-cover ratio of 2.47.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.34.
Earlier in the day, the Treasury Department announced the details of this month’s auction of twenty-year bonds.
The Treasury revealed that it plans to sell $27 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.
EARNINGS SUMMARY: Details of Terex Corp. Q4 Earnings Report
Terex Corp. (TEX) revealed earnings for fourth quarter that declined from the same period last year.
The company’s profit totaled $17.7 million, or $0.25 per share. This compares with $24.5 million, or $0.34 per share, in last year’s fourth quarter.
Analysts had expected the company to earn $0.02 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 11.1% to $786.7 million from $885.0 million last year.
Terex Corp. earnings at a glance:
-Analysts Estimate: $0.02
-Revenue (Q4): $786.7 Mln vs. $885.0 Mln last year.
‘Daredevil’ Star Deborah Ann Woll Signs With ICM Partners
EXCLUSIVE: Deborah Ann Woll has signed with ICM Partners for representation in all areas.
Woll first broke out starring as in the hit HBO series True Blood opposite Stephen Moyer and Anna Paquin. Most recently, she starred as in the Netflix/Marvel series Daredevil. Her character also recurred on The Punisher, and The Defenders.
On the film side, Woll was most recently seen starring in Sony Pictures’ Escape Room. Other notable film credits include Ruby Sparks opposite Paul Dano and Zoe Kazan and Someday This Pain Will Be Useful To You opposite Marcia Gay Harden and Lucy Liu.
Woll is additionally represented by Luber Roklin Entertainment.
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After a Rough Start, Sweethearts Are Back With a Song
Julia Rothman is an illustrator. Shaina Feinberg is a writer and filmmaker. Both live in Brooklyn.
Gold Futures Snap 4-day Winning Streak, Settle Notably Lower
Gold futures settled lower on Thursday, sliding after four consecutive days of gains, as the dollar recovered after initial weakness amid a rise in U.S. treasury yields.
The dollar index, which slid to 90.26, recovered to 90.47 around mid-afternoon, gaining marginally over its previous close of 90.37.
Gold futures for April ended down $15.90 or about 0.9% at $1,826.80 an ounce.
Silver futures for March ended lower by $0.031 at $27.047 an ounce, while Copper futures for March settled at $3.7715 per pound, down $0.0010 from the previous close.
In economic news, a report from the Labor Department showed first-time claims for U.S. unemployment benefits dipped from an upwardly revised level in the week ended February 6th.
The Labor Department said initial jobless claims edged down to 793,000, a decrease of 19,000 from the previous week’s revised level of 812,000. Economists had expected jobless claims to drop to 757,000 from the 779,000 originally reported for the previous week.
On Wednesday, Federal Reserve Chair Jerome Powell said the central bank’s accommodative policies still need to stay in place for a considerable time, saying the employment picture is a “long way” from where it needs to be.
Powell emphasized that he wanted to see inflation at 2% or more before even thinking of tapering the bank’s super-easy policies.
Digital Realty Trust Inc. Q4 adjusted earnings Beat Estimates
Digital Realty Trust Inc. (DLR) released earnings for fourth quarter that decreased from last year.
The company’s earnings came in at $44.18 million, or $0.16 per share. This compares with $315.58 million, or $1.50 per share, in last year’s fourth quarter.
Excluding items, Digital Realty Trust Inc. reported adjusted earnings of $465.24 million or $1.61 per share for the period.
Analysts had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 34.2% to $1.06 billion from $0.79 billion last year.
Digital Realty Trust Inc. earnings at a glance:
-Earnings (Q4): $465.24 Mln. vs. $354.70 Mln. last year.
-EPS (Q4): $1.61 vs. $1.62 last year.
-Analysts Estimate: $0.19
-Revenue (Q4): $1.06 Bln vs. $0.79 Bln last year.
European Economics Preview: Germany Factory Orders Data Due
Factory orders from Germany and Halifax house prices from the UK are due on Friday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is slated to issue Germany’s factory orders for December. Economists forecast orders to fall 1 percent on month, reversing a 2.3 percent rise in November.
In the meantime, industrial production data is due from Statistics Norway.
At 2.45 am ET, current account and foreign trade reports are due from France.
At 3.00 am ET, retail sales from the Czech Republic and industrial production from Hungary are due. Hungary’s industrial output is forecast to climb 2.0 percent annually in December, following a 3.5 percent rise in November.
Half an hour later, UK Halifax house price report is due. Monthly house price growth is seen at 0.3 percent in January versus +0.2 percent in December.
Also, Statistics Sweden publishes industrial production and orders at 3.30 am.
At 4.00 am ET, Italy’s Istat releases retail sales data for December. Sales had dropped 6.9 percent on month in November.