Treasuries fell this morning as a precursor to the release of the GDP Price Index Report at 8:30 a.m. The data in the report showed an acceleration increase of 2.8 percent annually. There was also an increase of 4 basic points on the yields of 30-year bonds. Also, Mortgage Backed Securities prices are going up. Other releases to come include the Personal Consumption and U of M Confidence reports.
What’s Up on Wall Street?
On the heels of a weaker-than-expected economic growth report, all the markets showed a decline. The Dow Jones Industrial average fell 49.0 points (-0.4 percent). The S&P 500 slipped 3 points (-0.2 percent). Also, the Nasdaq composite lost 1 point.
WE WANT YOUR FEEDBACK
REAL GDP- after Massive stock-piled inventories are stripped out, along with
autos (0.3%), rose an incredible 0.6%! Just a tick over ONE HALF of a PERCENT.
1.94% of the initially-claimed 2.8% rise, was inventories. I say initially-claimed,
because we KNOW that the GDP figure will be revised DOWNWARD.
We have no growth, flat real retails sales, declining home prices, rising home inventories,
increased mortgage delinquencies, higher unemployment (11+%) higher long-term
unemployment, flat wage growth and higher debt (both personal and institutional)
If there are any ‘salesmen’, bankers, and shills still snorting the Hopium,
it’s time to check into that rehab facility called- REALITY. You’re starting to look like
old, haggard, “ladies of the night.” Flailing your wears, touting your so-called expertise
and appearing very DESPERATE, in your ‘bid’ to make a ‘sale’..as the old “ladies” usually do…