Retail Sales, Congress, Nasdaq discussed on Market Advantage

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Up twenty four thirty seconds for a yield of two point eight three percent and also the 10year moving higher by eight thirty seconds for you'll do 237 percent so people by not long end of the treasury curve but they're not buying the short and which leads to further yield curve flattening they been a lot of handwringing in the past few weeks about what this indicates about the economy and interestingly we got some economic data earlier today that showed that producer prices were actually increasing more than people had expected a and yet that did nothing to sort of puncture in friendly accelerate zamaliah accelerated inflation we're gonna get producer prices dust reproduction retail sales as well as a new home sales i believe this week so we'll get a little bit of a deeper look in the economy a match should be a clarifying dave i'm wondering how much the move that we are seeing today is tied at two diminishing expectations of congress passing some kind of tax bill while you you do have to wonder whether people were really anticipating that or not i mean it's that easy sort of fallback position to say well it's all about let's cut the corporate tax rate get it down to twenty percent and then be happy days i suspect people are a bit more sceptical than that and you have to bear in mind that there's been a backdrop of corporate earnings it's been helping stocks regardless of the tax situation so why can argue that people might look ahead and seeing some positive it's just a question of of how rosy the glasses might be at this point said also might just be prudent a prudent moneymanagement i mean you have the nasdaq is up nearly 25 percent year to date the sp 500 has posted a fourteen and a half percent increase in the dow was up nearly eighteen percent and if you take a look at a specific stock like walmart i know we're going to speak later on about walmart the shares a walmart or up more than thirty percent so far this year so people are just being prudent taking some gains and going to pay their taxes gino it's weird there is a bank of america merrill lynch november fund manager survey that came out this morning it was really notable to me first of all average cash balances fell to four point four percent from four point seven.

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