John Canavan
John Canavan
adds following oil stocks stuck until
That just adds to everything that's going on Friday, so we're just stuck following oil and stocks until then.
base far footing held interest last market middle month open prices rise seen short since suggesting treasury
You have seen a pretty significant rise in open interest in the Treasury futures market since the middle of last month as prices have declined, suggesting a pretty substantial short base out there, so we've held our footing so far this week.
based damage economic fact fears great head higher hurricane lower prices short term worst yields
Over the short term Treasuries yields will head higher and prices lower based on the fact that economic damage from this hurricane is not as great as the worst fears had priced in.
although appear consumer number overall slowing spending
Although the overall number on GDP was very strong, it does appear that consumer spending is slowing a bit.
ability difficult federal fight major remarkable reserve respect rise
There's a remarkable respect for the Federal Reserve and their ability to fight inflation, and because of that it's going to be difficult to see any major near-term rise in long-term rates,
comments continued downward pressure series supply treasury
There's been a continued series of hawkish comments from the Fed, and there's supply pressure with today's five-year auction. All of this is going to put downward pressure on Treasury prices.
care chain claims eye housing might nobody people sales store
(Jobless) claims nobody is going to care about, housing completions nobody is going to care about, chain store sales people might eye a little bit,
auctions based difficult draw gets note
It gets the refunding off on the right foot, but it's still difficult to draw conclusions about how well the five- and 10-year note auctions will do based on the three-year auction.
investing opportunity provide rising yields
If yields are rising over there, they provide a better investing opportunity.
front hold inflation keeping lack plus rates
The Fed's keeping rates on hold is a continual plus for the front end and the lack of inflation is what's keeping long rates low.
data economic maybe minor
The economic data were mixed, but then we got some pre-weekend short-covering and maybe some minor month-end buying.
bond buying caused curve interest move quick recent seeing
The flattening move of the curve has been accelerating. There was some substantial buying of the new 30-year bond and now we're seeing a reversal of that as recent interest has waned. This has caused a quick reversal of the inversion.
market near range situation trade
The market is in a range trade and that situation is only getting more pronounced as we near the end of the year.
deficit downward expected factors june larger revision small suggest trade
The June trade deficit was larger than expected which would suggest -- barring any other factors -- a small downward revision to second-quarter GDP growth.