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Thursday, July 17, 2014

Better econ data, rates up. No, down. $tnx $spy

Nice jobless claim number and Fed survey. Keeps the narrative of a very healthy US economy. Better economy means higher or at the very least steady treasury interest rates, or so one would logically think.

Nope. Declines.

The housing number was off, but I believe that is more of a consequence to the difficulty in obtaining a mortgage. (The criteria now has become very detrimental to home own ship.)

Regardless, somehow this will be justified. But I'm still puzzled by it. Unless the treasury is the only market reflecting the true uncertainties around current geopolitical events. (See 'Market Thought... catalyst' post below.)

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