Market Commentary

[Adam in CO]

U.S. Treasuries gained before an auction today of 10-year notes and a Federal Reserve policy meeting tomorrow. Economists predict policy makers will keep the target for the overnight lending rate between banks unchanged at 5.25 percent, according to a Bloomberg News survey. The government will auction $13 billion of securities today, after selling $14 billion of three-year notes yesterday at yields close to dealer forecasts. The yield on the benchmark 10-year note declined almost 2 basis points, or 0.02 percentage point, to 4.61 percent at 8:33 a.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 5/8 percent note maturing in February 2017 increased 3/32, or 94 cents per $1,000 face amount, to 100 3/32. Two-year yields, more sensitive to interest-rate expectations, declined almost 1 basis point to 4.66 percent.

[bparker]

WTF does all this mean?

And the do-nothing Fed did nothing today.

[Adam in CO]

I think they're terrified to do anything. I think they have lost any and all premonition of what their changes might affect. It's the worst time to be Chair I've ever seen. What a crappy job.

[bparker]

lol ya with inflation creeping and the dollar plunging - who the hell would want to turn on the interest rate dial? I know I wouldnt lol