John Spinello
John Spinello
bit came caused close data firm home low sales selling session side
The home sales data were on the firm side and yet we didn't see any selling when they came out. We had come close to the low (prices) of Friday's session and couldn't go lower, so that caused a bit of short-covering.
bit bond chain coming data negative oil positive prices sales stores weak
The chain stores sales data is coming in a little bit weak and oil prices are up. That's positive for the bond market, negative for the economy.
above auction basis came cost expect moderate percent points
The auction came in right at the market; there was moderate interest, nothing spectacular, but at 1.50 percent (50 basis points above the cost of carry) you can expect that.
definitely economy fact fed report stronger york
After the stronger report on manufacturing from the New York Fed yesterday, it definitely reinforces the fact that the economy is doing better.
fairly fed market quiet seen
It's been fairly quiet and we haven't seen a lot of buying; the market is getting positioned for the Fed on Wednesday.
activity greater percent program seeing swings volatility
The volatility that we're seeing is ... (because) greater than 50 percent of the activity is program trading. The swings are really violent.
bond seeing selling
There's not a lot of activity, but the bond was severely oversold (Friday) and without follow-through selling today, we're seeing some short-covering behavior.
inspire might negative point risk violent weak
The risk at this point is that we get a weak payrolls number. If we get a negative number, that might inspire some pretty violent short-covering.
coming developed israel premium safety saw weekend
A safety premium developed over the weekend with what we saw out of Israel and (Gaza) and what we didn't see coming out of Afghanistan and Pakistan.
bid event market people time
Right now, the market is well bid and it will take time or some more significant event to make people want to sell.
buy economic landscape people ready willing
There's a re-evaluation of the economic landscape that makes people willing to sell, but there's not a lot of people ready to buy right now.
buildings market office post senate talk
With the post office story and then the talk about the Senate office buildings being evacuated, sure, that got the market re-bid again.
bid flow investors last market picking starts tomorrow weak week yields
Investors are still picking up some paper. Yields were bid up last week (but) refunding starts tomorrow . . . the market may be weak going into the flow of supply.
higher indication inventory leaning rebuilding sign time toward
Inventory rebuilding may have begun, with inventories up for the first time in many months. It's probably an indication that you're leaning toward a higher GDP and another sign of the recovery.