John Spinello
John Spinello
bad bonds concern dollar initially sold
I think initially there will be concern for the dollar and there will be uncertainty in stocks. It will not be so bad for bonds . . . Bonds have sold off so much.
below flows further market morning perhaps selling stock today treasury
Today the flows have changed. We did see some selling this morning of the back end of the Treasury market and perhaps that's just a little disappointment that the stock market didn't go further below 10,000.
core definitely focus higher inflation pressured prices speech turning
Greenspan's focus on inflation definitely pressured the market. It was definitely a speech on higher prices and about core inflation turning the corner.
bond seeing selling
There's not a lot of activity, but the bond was severely oversold (Friday) and without follow-through selling today, we're seeing some short-covering behavior.
bid event market people time
Right now, the market is well bid and it will take time or some more significant event to make people want to sell.
inspire might negative point risk violent weak
The risk at this point is that we get a weak payrolls number. If we get a negative number, that might inspire some pretty violent short-covering.
coming developed israel premium safety saw weekend
A safety premium developed over the weekend with what we saw out of Israel and (Gaza) and what we didn't see coming out of Afghanistan and Pakistan.
buildings market office post senate talk
With the post office story and then the talk about the Senate office buildings being evacuated, sure, that got the market re-bid again.
area people perceive
That's been an area where people perceive value.
bid flow investors last market picking starts tomorrow weak week yields
Investors are still picking up some paper. Yields were bid up last week (but) refunding starts tomorrow . . . the market may be weak going into the flow of supply.
higher indication inventory leaning rebuilding sign time toward
Inventory rebuilding may have begun, with inventories up for the first time in many months. It's probably an indication that you're leaning toward a higher GDP and another sign of the recovery.
fairly fed market quiet seen
It's been fairly quiet and we haven't seen a lot of buying; the market is getting positioned for the Fed on Wednesday.
activity greater percent program seeing swings volatility
The volatility that we're seeing is ... (because) greater than 50 percent of the activity is program trading. The swings are really violent.
bit came caused close data firm home low sales selling session side
The home sales data were on the firm side and yet we didn't see any selling when they came out. We had come close to the low (prices) of Friday's session and couldn't go lower, so that caused a bit of short-covering.