The Market At 2008-07-08 15:58:37 ET
10-Year: 3.890 +02+/32 GNMAs: EUR/USD: 1.5653 USD/JPY: 107.4440
(14:05) Getting safe-haven boost, trade still light
(13:44) Still prodding the highs
(12:04) Nearing session highs at midday
(10:50) Perking up
(09:13) Slinking lower
(08:20) Opening flat
(07:31) A little bid; 10-yr +02/32 yielding 3.892%
Pending Home Sales: Actual -4.7%, consensus -2.8%, prior 7.1% (revised from 6.3%)
Wholesale Inventories: Actual 0.8%, Briefing.com 0.7%, consensus 0.6%, prior 1.4% (revised from 1.3%)
Consumer Credit: Actual $7.8B, consensus $7.0B, prior $7.8B (revised from $8.9B)
Bernanke will testify in semi-annual report to congress next Tues & Wed
Flatter in Mixed Business: The market was mixed, as the long end rolled higher, but was unable to see levels reached in Mon's run-up getting an added boost as crumbling commodity prices helped lessen inflation concerns. Bonds managed to retain gains through much if the session, still getting some of its bid on worries over financials and a...
The Interest Rate Outlook
Last Updated: 2008-07-07, 16:12:47 ET
Watching Fed Directives
The breathlessly awaited FOMC meeting has come and gone, with the general response to the much anticipated statement being “duh.” The policy-posse was in a tough spot, still is, but overall players seem to think they did the right, the only, thing they could, which was to hold on rates but pepper the statement with a dash of heated inflation talk (that was not over...