Posted on 10/16/2009 2:07:01 PM PDT by blam
TREASURIES-Prices Up As Stock Slide Spurs Safety Bid
Tue Jul 15, 2008 9:59am EDT
By Ellen Freilich
NEW YORK, July 15 (Reuters) - U.S. Treasury debt prices rose on Tuesday on safe-haven demand as stocks prices tumbled and as a weak banking sector cut expectations that the Federal Reserve will raise interest rates any time soon.
As major stock market indexes fell in early trade, U.S. short-term interest rate futures cut back on implied prospects for Fed rate hikes over the next several months. Prospects for a rate hike by year-end fell to 82 percent after being almost fully priced on Monday.
Traders said Fed Chairman Ben Bernanke's semiannual monetary policy testimony before the Senate Banking Committee at 10 a.m. (1400 GMT) would get a lot of attention.
[snip]
(Excerpt) Read more at reuters.com ...
Ping.
Now about that 10,000 DOW....
I don’t think the dow was the most important measure on the way down, nor is it on the way up.
Great! It never made it to 10,000 all day today.
See here.
And it has such a demonstrated record of staying in one place all the time...
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