A couple weeks ago David Gaffen at the WSJ’s MarketBeat blog had a post everyone should read on five reasons for rising interest rates: (1) Higher Yields Around the Globe (2) Diminished Expectations for a Rate Cut (3) China Diversifying…
“No question that the bottom of the market hasn’t hit yet.” – Esmael Adibi, Economist, Chapman University in Orange County “I think we’re going to be dealing with this all the way through 2008.” – Jack Haynes, Executive Vice President,…
“For equities, and for the bond market in general, this may come to be viewed as merely an adjustment – a restoration of the old relationship between Treasuries and the federal funds rate – and they may be calmed by…
“Sentiment [on treasuries] has probably gotten too bearish given the current set of news.” – Tony Crescenzi (subscription required), Chief Fixed Income Strategist, Miller Tabak The sell-off the last three days has been entirely about interest rates. Higher interest strain…
“The whole story is interest rate worries.” – Stephen Carl, head trader Williams Capital (subscription required) “A lot of people are trying to come to grips with the idea that the Fed is just as likely at a future meeting,…
In other news from today, home furnishings retailer Bed, Bath & Beyond (BBBY), an $11 billion, S&P 500 company lowered its outlook for its 1st quarter ended Saturday June 2. It expects to earn between 36 and 38 cents per…
The big event for today turned out to be a speech given by Fed Chairman Ben Bernanke to the International Monetary Congress in Cape Town, South Africa via satellite before the market open this morning. This speech somehow reaffirmed the…
On the heels of last Wednesday’s 282 point, 6.5%, sell-off in China there was another selloff in China last night (Monday June 4). The Shanghai Index was down 330 points, or 8.26% – comparable the 269 point, 8.85%, sellof heard…
I was just checking my website traffic and was pleased to discover that Charles Kirk at The Kirk Report added Top Gun’s blog to the “Blogs I Read” section to which members of his site have access.
Lot’s of good economic news, or economic news that has been interpreted as good, the last couple of days. Yesterday (Thu) before the open, The Commerce Department reported that preliminary estimates for 1Q 2007 GDP had been revised down to…