Америка сегодня. Динамика цен Экспорт/Импорт.

Overnight Treasury Summary

Treasuries Rally as Dollar Drops Again

• U.S. Treasuries are trading significantly higher this morning and yields, which move inversely to prices, have touched multi-week lows across the curve as the U.S. dollar falls sharply. After trading up to 102.95 on Wednesday, the U.S. Dollar Index is now losing 0.93% at 100.81. Some investors are complaining that President-Elect Trump did not discuss plans for fiscal expansion at his press conference on Wednesday but the markets have been quite optimistic on that front and were setting themselves up for disappointment. U.S. economic data releases are again limited today but FOMC voters Yellen, Evans, and Harker will make public remarks and the Treasury will sell $12 bln of 30-year bonds at 13:00 ET. The S&P 500 is set to open down 0.25% to 2,269.9 and WTI crude is up 1.22% to $52.89/bbl. Gold is up 0.64% to $1,204.3/troy oz. on the dollar weakness and lower Treasury yields
• Yield Check:
  
  • 2-yr: -3 bps to 1.16%
  • 5-yr: -3 bps to 1.85%
  • 10-yr: -4 bps to 2.34%
  • 30-yr: -3 bps to 2.93%

• International News:
  
  • China's banks extended 1.04 tln yuan of new loans in December, up from 794.6 bln yuan in November. Economists had expected a decline 
    
    • China's money supply, as measured by M2, grew 11.3% in the year to December, just missing forecasts and slowing from November's 11.3% growth
  • Japan's Economy Watchers Current Index beat forecasts by remaining unchanged at 51.4 for December
    
    • Bank lending grew by 2.6% y/y in December, beating both forecasts and November's 2.4% growth
    • Japan's seasonally adjusted current account surplus narrowed less than expected in November to JPY1.80 tln from JP1.93 tln
  • India's consumer price index rose by 3.41% y/y in December, falling more than expected from November's growth of 3.63%
  • In the eurozone, industrial production jumped by a better-than-expected 1.5% m/m in November (3.2% y/y) after ticking up by 0.1% in October
  • Germany's economy grew by 1.9% in 2016 (1.7% in 2015), its fastest rate in five years, edging past economists' estimates. Germans vote in national elections this fall
  • Italian industrial production grew 0.7% m/m in November (3.2% y/y), beating both estimates and October's 0.1% increase
  • French CPI and HICP (harmonized index of consumer prices) growth was finalized at 0.3% m/m for December, in line with the initial readings and November's growth rate
  • Brazil's central bank cut its main policy rate by more than expected on Wednesday afternoon to 13.00% from 13.75%

• Data out Thursday:
  
  • December Import prices ex-oil and Export prices ex-ag. (08:30 ET)
  • Initial Jobless Claims for the week ending 1/7 and Continuing Jobless Claims for the week ending 12/31 (08:30 ET)
  • Natural Gas Inventories for the week ending 1/7 (10:30 ET)
• Fed Speakers:
  
  • Philadelphia Fed President Harker (FOMC voter) (08:30 ET)
  • Chicago Fed President Evans (FOMC voter) (08:45 ET)
  • Atlanta Fed President Lockhart (non-FOMC voter) (12:30 ET)
  • St. Louis Fed President Bullard (non-FOMC voter) (13:15 ET)
  • Fed Chair Yellen (FOMC voter) (17:30 ET)
• Treasury Auction:
  
  • $12 bln 30-year Treasury reopening (results at 13:00 ET)

 Mizuho provides top E&P and midstream picks for 2017  (74.91)Mizuho expects the tailwinds of a commodity price/volume recovery and generally improved energy regulatory backdrop to outweigh headwinds of higher interest rates and uncertainty on corporate tax reform, FERC pipeline regulations, service cost inflation and the impact of associated gas production growth. Their top E&P picks are FANG, NBL, RICE and SWN. Their top midstream MLP picks are VLP, PSXP, MPLX and EEP.

 PPL Corp repeats FY16 & FY17 guidance following analyst/investor meeting  (34.24)

• Co reaffirms guidance for FY16 (Dec), sees EPS of $2.30-2.45 vs. $2.36 Capital IQ Consensus Estimate.
• Co reaffirms guidance for FY17 (Dec), sees EPS of $2.05-2.25 vs. $2.16 Capital IQ Consensus Estimate.

 Nevsun Resources reports its operating results for the year ending December 31; Bisha production exceeded supergene copper guidance producing 55.8 mln pounds at a C1 cash cost of $1.03/payable pound sold  (3.32)

2016 Performance Highlights

• Achieved top quartile safety performance at Bisha with no lost time injuries
• Completed the acquisition of the high grade Timok copper-gold project in Serbia
• Successfully integrated, ramped-up and are now rapidly advancing the Timok project to production
• Completed the Bisha zinc project on-time and under budget, declaring commercial production October 1
• Bisha production:
  • Exceeded supergene copper guidance producing 55.8 million pounds at a C1 cash cost of $1.03 per payable pound sold
  • Achieved zinc guidance, producing 90 million pounds from primary ore
  • Achieved gold guidance, monetizing 90,000 gold equivalent ounces from stockpiles
  • Secured Bisha District through significantly expanded exploration rights
• Continued to pay peer leading dividends

2017 Outlook and Guidance

• Nevsun is currently completing its annual forecasting process at Bisha where the work on a robust geo-metallurgical resource model and the copper flotation plant metallurgy are ongoing.
• The expect to provide their 2017 Outlook and update on the resolution to the challenges related to the copper flotation circuit in mid-February 2017.