June 30 year T-BONDS: We are approaching a 4th attempt at 134’00
While Treasury and gold prices seem to think that the US economy is slipping back into a slow or no-growth posture, the odds are good that economic activity was merely crimped by one of the coldest and snowiest winters on record.
Looking at the action in stocks last week, we might develop some concern for the pace of the US recovery, especially in the wake of a soft December Non-Farm Payroll result, sub-par sales guidance from a couple of bellwether US companies and from fears that the Fed might continue to taper even in the face of uneven US data.
The improvement in the global economy continues, but the recovery pace obviously isn’t providing much in the way of support for the commodity markets.
Daniels Trading Senior Broker Scott Hoffman was quoted in The Wall Street Journal/WSJ.com article titled “Market Expects Long-Lasting Funding Stress.” “You had a bunch of [Treasury] auctions that had huge demand this week,” said Scott Hoffman, senior broker for Daniels Trading. “Everyone wants to be in the safest place possible, and at the moment,… Read more.
All eyes are on the debt market these days. Volatility in the debt market is forcing investors and traders to shift their assets as the global markets spin out of control. News of Greece defaulting on its bonds, the US raising its debt ceiling, and economic activity in the Far East have traders and investors… Read more.