A brief heads up
May. 29th, 2008 08:16 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
solarbirdFor obvious reasons, I didn't post econ noise yesterday, but the entire time the bond market was open, both bonds and stocks were selling off; bonds made a pretty big move yesterday as rates climbed nine basis points, but more importantly, the stock market was down all that time. Then as soon as the bond market closed, stocks jumped up a tad. This implies that someone large is moving out of both stocks and bonds, slowly. However, they are not - at least as of yet - moving out of the dollar, which has climbed the last two days. (Note also oil prices rising; note the short-term counter-intuititive cause-and-effect.)
I post this now because while it's very early in the day, the 10-year treasury market has already duplicated yesterday's climb, in a rather dramatic move over 4.1%. Stocks are not lower, but the oscillations are worth mentioning, with half-percent swings in the NASDAQ and nearly three-quarter percent swings in the Dow in particular in a matter of minutes.
ETA: Whatever it was, it resolved upwards. Interesting. Bond market selloff stalled at the same time, normally a contrary indicator. Confusing, but also interesting. It's a weird market out there. (This is, btw, why I don't play around with day-trading and very-short-term moves. ^_^ )
I post this now because while it's very early in the day, the 10-year treasury market has already duplicated yesterday's climb, in a rather dramatic move over 4.1%. Stocks are not lower, but the oscillations are worth mentioning, with half-percent swings in the NASDAQ and nearly three-quarter percent swings in the Dow in particular in a matter of minutes.
ETA: Whatever it was, it resolved upwards. Interesting. Bond market selloff stalled at the same time, normally a contrary indicator. Confusing, but also interesting. It's a weird market out there. (This is, btw, why I don't play around with day-trading and very-short-term moves. ^_^ )
