David Ader
David Ader
anxious buyers improved price yields
We're anxious fence-sitters. Yields are back to where we like them -- and we'll like them more if we see more buyers and improved price action.
market stopped
It's not that the market is bullish, it's that it stopped being bearish.
bid cite decline downward market revision supportive
The market was bid before this report, but we do cite the decline and downward revision as more supportive data.
champagne employment events fed few focus full official remaining return turned week
The market's saunter into 2006 continues, with just a few remaining events before the champagne and confetti. We have turned our focus to the first week of '06 -- in which we will see official Fed commentary, the employment report, and the market's return to full force.
cracked gets january legacy market strong supply week weight
The legacy of this week will be of a market that's cracked even before it gets the weight of supply and anticipated strong January data.
curve follow great
It is going to follow what the nominal (Treasury) curve is doing. It's not that great of a surprise.
against cannot core figures outer rate revision solace takes
We cannot take solace from these figures as the upward revision to the core PCE deflator takes the year-on-year rate to 1.9 percent, up against the Fed's outer boundary.
bit curve excited flat further moved near open pancake year yields
While the curve has moved to flat as a pancake to a bit inverted and yields open the year near 4.38%, we are not excited about further inversion just yet.