Trading Now

Trading Now

Wednesday, July 29, 2009

DTRB's Afternoon Tidbits

5 year auction has very low turnout, i.e., not enough foreign buyers. This may be bad for the 7 year tomorrow

Beige Book is less optimistic than watchers expected (except this watcher of course)

Mortgage market not doing enough for underwater homeowners (oh really)

Retail activity is sluggish at best

Commercial Real Estate is falling off a cliff, down >17% YOY and continuing to fall and TALF will only go so far. Banks will have to be bailed out again over this.

JOBS JOBS JOBS there are none

Stocks have been run up since May by lowered expectations (even I have lowered my expectations, of the human race that is) with job losses and scaling down inventories helping earn .01. Where's the beef! We'll see

Oil and gas inventories along with manufacturing and durable goods have no demand

Inflation is an afterthought (we already had that train wreck and now we need DEFLATION)

Consumers have no more job, no more credit and no more house.

We are all subprime now!

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