John Canavan
John Canavan
auction initially last losses lower market recover seems turned
Initially we turned a little lower after the auction results, but in the end we turned a little higher. It just seems as if the market has been able to recover partially after the losses of the last two days.
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.
helped pressure stocks
Stocks were also under pressure and that helped out a little.
auction good indirect interest quite
The auction went quite well. There was good interest from indirect bidders,
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.
ask county deeper dig eliminate pockets taxpayers wasteful
Eliminate patronage and wasteful spending. Don't ask taxpayers to dig deeper into their pockets when some county employees, some venders and some suppliers have Joel in their back pocket.
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.
amount pressure supply
It's still a hefty amount of supply and there will be pressure on the market.
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.
dollar inflation remains
Is the dollar importing inflation pressures? I think it remains to be seen.
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.
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.
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.