Thursday, April 12, 2012


Let's review the bidding.  Within the past 24 hours, Janet Yellin, The Leader's appointed #2 at the Fed announced that she didn't expect to see interest rates move upward before 2014.  YEA!  Except that was because she didn't expect the unemployment rate to fall below 8.2% until that date. BOO!

The new unemployment claims moved uo tp 385,000 and last month's number was revised upward.  BOO!

Industrial production was flat.  BOO!

European job numbers stank.  BOO!

The Italian 3 year auction sold @ 3.89% a full 100b.p. above just a few months ago.  BOO!

China GDP is supposed to be good when it is released tonight...but fewer and fewer people believe the number.  ENH?

So why did every equity market in the world go up today?  Honest to goodness I have no idea.  I'm going to have a drink...Oh, Greek elections have been set for May.  That's sure to bring some sense to the proceedings

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