Join        Login             Stock Quote

Bonds - Dump Them Like It's 1994.

 February 06, 2013 05:29 PM

Yesterday morning TMM were somewhat relieved to find Spain and Italy the focus of attention as Friday's rip higher had us feeling like passengers that had drunkenly got off the last train home a few stations early, watching it continue on up the track leaving us in the cold with a long walk to catch up. We had been thinking that HY credit was to be the populist trigger for a wobble but we are happy for an assist from any hand.

But Europe? Well as TMM says- "There are two things in life you can be sure of - "Death" and "A peripheral European country tripping over the last step up out of the darkened cellar and smashing its nose on the concrete"". Spain and Italy? TMM thank you. But special thanks has to go to Rajoy for adding a new precedent to political get out clauses with his statement that all the information that has been published by the media "is untrue - except for some things". Bet Chris Huhne wishes he'd thought of that one.

[Related -Is The Slump In US Manufacturing Easing?]

But thanks also have to go to to the supporting cast of European technicals, a monster stop-loss post NFP towel-chuck, the odd ratings company being gunned down (just when they thought they'd got away over the horizon) and an army of extrapolationists and their straight lines (did you see how many calls to new extremes came out from various research houses over the weekend? NZD/USD parity?).

Overnight falls in Asia have confirmed the globalness of this pullback but the tussel between improving ecomomic data, Spain PMIs very good, and the new euro political news has seen Europe open to a rebound. But TMM think the anatomy of a wash out will naturally see the buy-the-dippers first appear before another down move takes them out too with a collective "urghh". So with that in mind TMM are today sell-the-ralliers thinking this dip has more to it.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

It's Never Too Late To Build An Income Portfolio
More Articles on: Finance

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.