S&P 500 FINANCIALS INDEX
| Value 158.39 | Change 3.38 | % Change 2.2% |
Oversold MLPs found buyers, the index is up 4. Yield buyers have returned, REITs & junk bond funds are also higher but oil is down pennies. MLPs have enjoyed a nice climb lately while REITs have had to endure a very bumpy time of it. I've attached a discussion forecasting uglier times ahead for retailers & by extension their leaseholder REITs. It reminds us that the rising out of this recession could take time & can be painful.
- "Expect More Bankruptcies": Worst Yet to Come For Retail, Says CEO of Inventory Liquidator- Tech Ticker
Alerian MLP Index --- 2 months
Dow Jones REIT Index --- 2 months
This PM, The Federal Reserve will issue their statement. There's little they can do with interest rates but they have other tools to influence economic activity. The FED has been buying Treasuries & mortgages, now that program is on hold. The markets are trying to guess their next moves if the economy has bottomed. The obvious changes could include cutting back stimulus programs they have undertaken.
Treasuries are little changed, awaiting results from the auction at lunch time & the FED's announcement. The 10 year bond yield rose 2 basis points to 3.66%.
10-Year Treasury Yld Index - 2 months
Economic data continues muddled, what should be expected coming out of the deepest recession since the Depression. New home sales slipped 0.6% in Apr, as they have to compete with foreclosures. The FED's statement should be unusually interesting for market watchers.
Dow Jones Industrials --- 2 months
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