“People were fearing disaster [in this morning’s Producer Price Index (PPI) report]. They got a report that wasn’t too far from the consensus, and it led to a rally.” – Brian Reynolds (subscription required), Chief Market Strategist, MS Howells May Core PPI…
“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…
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…
Ever since the huge selloff in China on Tuesday February 27 which sent stock markets around the world crashing down, investors everywhere have been watching the Chinese stock market. There was a second selloff on Thursday April 19 (subscription required) as…
You know Wall Street couldn’t go more than a few weeks without obsessing about the Fed and if there is going to be a rate cut this year or not. I swear to God…… The immediate cause is today’s April…