Below are stock and bond closes for a wild day.
The Economist’s cover story headline from last week—Acropolis Now— sounds all the more fitting today as Greece citizens and police clashed in the streets, and the Dow, S&P 500, Nasdaq all erased most of their 2010 gains, and safer bond investments rallied: mortgage bonds are up 43bps, 10yr Treasury bonds up 115bps. When bonds rally
Someone sent the graph below comparing stock indices to San Francisco Real Estate form 2000 to present. Obviously there are a lot of assumptions here and this cannot dictate any individual’s property investment decision, but worthy of debate. One of The Basis Point’s investment management contributors had this to say about it: Makes me want
US stock markets shot up today as investors hunted for bargains and placed their bets on the Fed Funds Rate being cut by 50 basis points to 1% tomorrow. The last time the Fed Funds Rate was at 1% was from June 2003 to June 2004, and then Fed Chairman Alan Greenspan has been widely
The traditional definition of a bear market is a 20% market decline. It’s hard to peg an official bear market because maybe one index drops that much but the others don’t. Or maybe things rebound quickly after a drop. But as of today it seems to be real: Since their peaks in October 2007, the
Rates/commentary for the week of January 19, 2004. Tuesday should kick off with rates about .125% higher than last Friday, but still hovering around all-time record lows set last May. The main reason for a higher open is from Treasury and mortgage-backed bond investors selling to take profits after a week-long rally and before the