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Market Pulse: Brocade, Analog Devices, Tech Data, Oil and Home Equity

Aug. 05, 2005 5:32 PM ETTECD, BRCD, ADI
Tony Sagami profile picture
Tony Sagami

The talk of the day was the return of the 30-year Treasury bond after a four-year absence, writes Tony Sagami, owner and founder of Harvest Advisors. Currently, the longest Treasury debt is 10 years.

The talk of the day was the return of the 30-year Treasury bond after a four-year absence. Currently, the longest Treasury debt is 10 years.

The government is reviving the 30-year Treasury bond because it wants to lock in today’s low rates. I don’t know about you, but I always count on the government to screw up whatever it touches so this move is making me reconsider my forecast for long-term interest rates.

Additionally, I also consider this move to be an admission that the government intends to keep running massive deficits and needs every borrowing tool it can get its hands on.

The Dow Jones ended the day with a 13-point gain although the Nasdaq lost a point.

Iran oil minister predicts $70 oil by end of year. Iran is the second largest OPEC oil producer, so it is a critical piece of the oil supply chain.

The Iranian Deputy Oil Minister, Nejad Hosseinian, warned that oil prices would hit $70 a barrel by the end of this year.

“Many experts expect oil prices to reach $70 per barrel at the end of this year. We think it may happen.

This article was written by

Tony Sagami profile picture
Tony Sagami has worked in almost every part of the financial services industry, including a stint as a life insurance salesman for Prudential; a stockbroker at Merrill Lynch, where he built a successful business catering to the needs of conservative, protection-minded clients in his home state of Washington; a portfolio manager at The Donoghue Group; and later in independent market research, analysis, and publishing, eventually becoming one of the most widely read market writers of the last generation. Tony has written about market topics as varied as investing in Asia, ETF trading, and finding hidden value stocks, as well as how to use short strategies such as put options to protect downside during market slides. Tony leads the new Mauldin Economics’ bear-market oriented research advisory, Rational Bear. Today, he brings his market analysis and trend trading skills to Mauldin Economics.

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