It's an ugly number -- you have a decline in March, you have a downward revision to the prior month,
More Quotes from Christopher Low:
One reason the 10-year note yield has risen so much this week is that investors are worried that the end of the carry trade -- a trade that involves borrowing at very low rates in Japan and investing at higher rates abroad -- will end any day now.Christopher Low
Like everyone else, we expect a quarter-point hike in fed funds today to 4.75 percent -- we also expect the statement to be softened.
Christopher Low
Home sales have remained surprisingly strong despite higher interest rates.
Christopher Low
Economists were expecting that the Fed would either remove the warning about asymmetric risks toward inflation or judgment that further tightening might be necessary. Of course, the Fed did neither.
Christopher Low
They tighten again in May and then they wait and watch.
Christopher Low
So far, the refunding has been a mixed bag. The three-year saw little foreign interest and had a low bid-to-cover, but the 10-year went a little better yesterday.
Christopher Low
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