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The Treasury market is pricing in an Obama victory, says Janney's Guy LeBas, as...
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Monday, November 5, 2012, 10:41 AM ETThe Treasury market is pricing in an Obama victory, says Janney's Guy LeBas, as southward-heading yields suggest no imminent change to monetary policy. Left unexplained by LeBas is how a Romney victory would change monetary policy. Besides, many suspect the Fed runs the President, not the other way around.
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This is what a "bubble" looks like! How soon they forget!
If Romney should win,it will be interesting to see what this guy says!
First, weighing in on the FED, everyone knows they are not really independent.
As to who wins in ten days after OHIO is counted, the market is tilting toward a Romney-Ryan victory and austerity which will lead towards higher interest rates. The double top in June-July for the long bond is the warning sign.