It seems like the market is obsessing on this bond market fallout, which was somewhat precipitated by the move to raise (interest rates) in Japan. A lot of the fuel that has been used to invest in this bond market has been derived from 'easy money' in Japan.
More Quotes from Jack Ablin:
Gold is creating a psychological dark cloud over the market. With gold on the upside and inflation fears, the numbers we get tomorrow will clarify some of these concerns.Jack Ablin
I don't view the market as risky or dangerous even in spite of more Fed tightening. We have enough value in U.S. and international growth stocks. What's holding stocks back right now is uncertainty about interest rates, not valuation.
Jack Ablin
This deal makes sense for both companies. Bank of New York has been expanding in the custodial business and doing a fine job. This shift out of distribution is an ideal fit for J. P. Morgan.
Jack Ablin
People are taking some comfort in results and a feeling that the economy is getting better, but there's still some caution. We need to see more evidence of a sustainable recovery. We need companies to start seeing profits more through top-line growth than just cost-cutting measures.
Jack Ablin
I would not expect investors and traders to make any big bets ahead of the number tomorrow. It clues us in on growth in the economy but also inflation.
Jack Ablin
It was probably one of the quietest days of the year. We started the day with good news on weaker oil prices but bad news on housing sales.
Jack Ablin
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