Corporate issuance will continue to be a major factor (in the Treasury market) in the weeks ahead with estimates ranging from $40 billion to $60 billion over the next month. |
Does anyone seem impressed that tens got to 4.99 percent and failed to print a 5 percent handle? Apparently not. There was hardly a momentum rejection, rather a yawn. |
Given this is a swan song for Greenspan, I think it's going to be one more of these global topics. There will be very little if anything that will give us any insight into monetary policy. |
It is going to follow what the nominal (Treasury) curve is doing. It's not that great of a surprise. |
It's hard to grasp given (the war) in Iraq . |
It's not that the market is bullish, it's that it stopped being bearish. |
It's not that the market is bullish; it's that it stopped being bearish. |
The Fed will want several months to confirm that inflation risks have shifted lower and there are subtle phrases that suggest they're not really believers. Take core [personal consumption expenditure inflation] down to 1.5% and they'll sing a louder tune. |
The legacy of this week will be of a market that's cracked even before it gets the weight of supply and anticipated strong January data. |
The market put in a surprising bid on Monday, albeit on tame volume and a lack of key data. If we need a fundamental rationale [for the rebound] we can discuss expectations for a soft [fourth-quarter] GDP read this Friday. |
The market was bid before this report, but we do cite the decline and downward revision as more supportive data. |
The market's saunter into 2006 continues, with just a few remaining events before the champagne and confetti. |
The market's saunter into 2006 continues, with just a few remaining events before the champagne and confetti. We have turned our focus to the first week of '06 -- in which we will see official Fed commentary, the employment report, and the market's return to full force. |
The suggestions provide framework of how to change our culture. We are going through semester plans and are trying to figure out how to use the suggestions. |
The suspiciously absent real money buyers, that were expected to step in and buy as yields backed up, have finally emerged -- supporting our view that we are near a temporary floor. |