European Central bank executive Joerg Asmussen says there are no plans to boost Greece’s bailout program before a spring review next year, a day after Germany’s finance minister said a third aid programme would be needed to keep Athens afloat. Ciara Sutton reports.
What’s News: Germany’s finance minister said Greece will need another aid program but it won’t be granted a second debt write-down, plus, tens of thousands of Syrian Kurds have crossed into neighbouring Iraq and more…Jason Bellini reports. Photo: AP
A possible showdown looms in Detroit as pensions question whether the city’s financial position is as dire as state officials are claiming. Matthew Dolan explains on the News Hub. Photo: AP.
President Obama meets with top financial regulators as many of the required Dodd-Frank reforms remain incomplete. Andrew Ackerman reports on the News Hub. Photo: AP.
Apple shares got a short-term boost last week from billionaire investor Carl Icahn’s tweets pressuring the company to borrow money to buy back more stock, but such a move would do little to help long-term investors.
The big drop in gold prices may be over but the rebound is volatile. Gold futures surged 4.5% to close at $1,371 an ounce–its highest price in two months. Investors including hedge fund managers John Paulson and George Soros had been liquidating positions in the popular SPDR Gold Trust ETF, which ?really killed gold.?
Rick Reagan joins Dan Cummings with some great websites for people to learn about their finances.
Unions, creditors and retirees are expected to file formal objections to Detroit?s eligibility for bankruptcy protection, the opening of a legal fight over whether the largest municipal bankruptcy in the nation?s history should proceed.
British banking group Lloyds is set to sell its German insurance business to Frankfurt-listed insurer Hannover Re for 400 million euros as it continues to streamline its business, according to a report.
By CountingPips.com
Weekly CFTC Net Speculator Report
10 Year Treasuries: Large trader and speculator positions for 10-year treasury notes in the futures markets decreased last week for a second straight week and to the most bearish position of 2013. 10-year treasury non-commercial contracts decreased to a total net position of -66,432 contracts in the data reported for August 13th. This is a decline of -46,336 contracts from the previous week’s total of -20,096 net contracts on August 6th. In the same time-frame, the yield on the 10 Year treasury note rose from 2.67 on Tuesday August 6th to 2.71 on Tuesday August 13th, according to US Treasury data.
Last 6 Weeks of Large Trader Positions
| Date | Net Large Specs | Weekly Change |
| 07/09/2013 | -47110 | -24193 |
| 07/16/2013 | 17735 | 64845 |
| 07/23/2013 | -32312 | -50047 |
| 07/30/2013 | 11903 | 44215 |
| 08/06/2013 | -20096 | -31999 |
| 08/13/2013 | -66432 | -46336 |
*COT explanation: The weekly cot report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).
Article by CountingPips.com – Forex News & Market Analysis
