The Obamacoaster is the newest ride on Wall Street and is the most unique Coaster in the World. Its designed to go one direction only...
Posted on 06/29/2010 10:18:34 AM PDT by Mad Dawgg
NEW YORK – Stocks and interest rates tumbled Tuesday after signs of slowing economies around the world spooked traders.
The Dow Jones industrial average fell about 230 points in midday trading to drop below 10,000 for the first time since June 10. The Dow and other major indexes each lost more than 2 percent.
Stocks began the day by following Asian and European markets lower. Asian markets fell after an index that forecasts economic activity for China was revised lower. And then European indexes fell sharply after Greek workers walked off the job to protest steep budget cuts.
Then, shortly after U.S. trading began, the market was hit with news that consumer confidence fell sharply this month because of worries about jobs and the overall economy. The Conference Board's Consumer Confidence Index fell nearly 10 points to 52.9, down from a revised 62.7 in May. It was the steepest drop since February and economists polled by Thomson Reuters had forecast only a modest dip.
(Excerpt) Read more at news.yahoo.com ...
The Obamacoaster is the newest ride on Wall Street and is the most unique Coaster in the World. Its designed to go one direction only...
And...the Euro hits $1.21.
Double-Dip Recession
Triple-Dip Recession
Quad-Dip Recession
Penta-Dip Recession
Hope and Change we can believe in. If it doesn’t work the first time, maybe the second, or the third, or the forth, maybe the fifth time is the charm ....
Is the One on TV again?!!
Obama: Can I just eat my waffle cone?
He was.....earlier. Something about the global recovery.
ping for home
Could the world economy be headed for a depression in 2011?
As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them. The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.
I am waiting for the proverbial Wall Street trader “Fat Thumb” excuse by the so-called objective economic pundits on the business channels.
30-year Bond below 4% now.
Investors are not buying into this fake recovery. There’s a rush to safety, and the only “safe” thing out there is Treasuries. Return on capital means little now. It’s all about preserving whatever’s still there.
As Biden said, the jobs are not coming back.
30 Year Treasury bonds are down 13.95% now
Little do they realize what awaits them in the bond market...........
The bad news is there are not a lot of buyers, not a lot of people who want to (or can afford) to refinance again, and not a lot of people who can sell their current home in order to upgrade to a better home (or they are fearful of doing so in this economy).
Very few people are able (or willing) to put 20% down on a house when they might be laid off at any moment.
This is not a positive environment for taking on a mortgage.
The yield is down, but the price is up. Folks are rushing in to buy them because they’re the safest thing available.
Yields on Treasury bonds move inversely to price.
Slowdown from what? I missed the speedup.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.