Bernanke Comments Don’t Signal QE3

The market took this speech as dovish, and expectations for QE3 rose slightly. I, however, don’t particularly find the comments “dovish.” Anyone who knows to watch the average work week component in the monthly jobs data knows that we’re not seeing additional hiring because of expanding economic conditions. Bernanke, in my opinion, just said out[…]

Important Shift in Yields

While everyone was focused on equities yesterday, I think the most important market movements we saw yesterday came from the 10 and 30 year treasuries. It looks at though 10 and 30 year yields have finally, after months, broken out to the upside.  As I’ve said repeatedly, getting long yields is going to be one[…]

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