Today the flows have changed. We did see some selling this morning of the back end of the Treasury market and perhaps that's just a little disappointment that the stock market didn't go further below 10,000.
More Quotes from John Spinello:
Greenspan's focus on inflation definitely pressured the market. It was definitely a speech on higher prices and about core inflation turning the corner.John Spinello
I think initially there will be concern for the dollar and there will be uncertainty in stocks. It will not be so bad for bonds . . . Bonds have sold off so much.
John Spinello
The risk at this point is that we get a weak payrolls number. If we get a negative number, that might inspire some pretty violent short-covering.
John Spinello
Right now, the market is well bid and it will take time or some more significant event to make people want to sell.
John Spinello
Investors are still picking up some paper. Yields were bid up last week (but) refunding starts tomorrow . . . the market may be weak going into the flow of supply.
John Spinello
Inventory rebuilding may have begun, with inventories up for the first time in many months. It's probably an indication that you're leaning toward a higher GDP and another sign of the recovery.
John Spinello
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