Jack Ablin
Jack Ablin
accounting concerns continue dominate investing seeing
Accounting concerns continue to dominate the market. We're going to be seeing this 'Prove it to me' investing for a while.
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It seems like the market is obsessing on this bond market fallout, which was somewhat precipitated by the move to raise (interest rates) in Japan. A lot of the fuel that has been used to invest in this bond market has been derived from 'easy money' in Japan.
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Investors have their rally caps on for year end, and we're doing it with speculation. With a good inflation report and strong growth, it seems to be the perfect elixir for Wall Street.
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Investors are taking stock of earnings and questioning whether they should be as optimistic as they are.
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Investing in a mutual fund is like riding in a bus; your progress depends in large part on other people and what they're doing. An exchange-traded fund is closer to riding in your own car.
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Fundamentally, I think the stock market is fairly valued, but there are a lot of issues around that are causing investor concern.
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I would not expect investors and traders to make any big bets ahead of the number tomorrow. It clues us in on growth in the economy but also inflation.
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The housing news was the big setback today. While we suspect that housing is likely to slow and thereby take the primary catalyst away from consumer spending, the number came in worse than expected and forced investors to face reality much sooner.
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The confidence report really personifies what's going on in consumers' minds right now. Investors are looking at Katrina and Rita as a one-two punch for the economy.
both good
In both fees and commissions, they're in good shape.
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Economists are expecting a gradual slowdown in economic growth paired with a slowdown in inflation. That will allow the Federal Reserve to wind up its rate-hiking campaign.
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The bond market is still behind the inflation curve. The inflation story continues to chip away at our economy and it doesn't seem to be getting any weaker.
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I'm not convinced we're heading into a recession. But we will have a slow down.
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It's increasingly believed among participants that the Fed will skip the next meeting, and possibly one more by the end of the year.