Existing Home Sales & Market Observations 06/27/06
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
May Existing Home Sales -1.2% to 6.67M falling 3 of 5 months, inventory +5.5% to 3.6M a nine year high. Consumer Confidence UP to 105.7 from 104.7. Full Report
Today, Homebuilders -3%; YTD -30% and its going to get worse.... $22B 2yr note auction, indirect bidders @ 29.5%. YTD Tires & Rubber -35%; Internet Services -22.8%, Home Entertainment Software -20.6%, Internet Retail -17.8% and Semiconductors -14.6%.
Today, treasuries rebounded after falling for 9th straight days, the longest losing streak since 10 days in 1974. With a bond & the dollar rescue rally, equities & commodities were unprotected and the Bears came to play. Thurs FOMC announcement is critical to set market tone through Aug 9th.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
May Existing Home Sales -1.2% to 6.67M falling 3 of 5 months, inventory +5.5% to 3.6M a nine year high. Consumer Confidence UP to 105.7 from 104.7. Full Report
Today, Homebuilders -3%; YTD -30% and its going to get worse.... $22B 2yr note auction, indirect bidders @ 29.5%. YTD Tires & Rubber -35%; Internet Services -22.8%, Home Entertainment Software -20.6%, Internet Retail -17.8% and Semiconductors -14.6%.
Today, treasuries rebounded after falling for 9th straight days, the longest losing streak since 10 days in 1974. With a bond & the dollar rescue rally, equities & commodities were unprotected and the Bears came to play. Thurs FOMC announcement is critical to set market tone through Aug 9th.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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