S&P 500 FINANCIALS INDEX
| Value 195.93 | Change -0.24 | % Change -0.1% |
S5FINL:IND
Citigroup --- 1 month
MLPs continues weak as the Alerian MLP index fell 1 to the 239s, this has not been a good month for MLPs. REITs were up slightly & junk bonds were flat in indecisive trading. The yield on the 10-year Treasury slipped 1 basis point to 2.44%.
Alerian MLP Index --- 6 months
Dow Jones REIT Index --- 6 months
Oil recovered a little in the PM & still isn't off too badly from the 75 high.
| CLV09.NYM | ..Crude Oil Oct 09 | ..71.45 | .. 0.60......(0.8%) |
Foxwoods Resort Casino, one of the largest casino owners, is on the brink of failing. They asked creditors to restructure almost $1½B in debt, their business has been hurt badly by the recession. This serves as a reminder that junk bonds carry risks of default &, especially as the recession drones on (even at a lesser level), investors need to be aware of those risks. Junk bonds were not affected by this news.
•Foxwoods Owner Said to Seek Restructuring of Casino's $1.45 Billion Debt
Below is another prediction by a member of the Federal Reserve about a "protracted period" of high unemployment from a slow recovery. This is commonly implied with talk about the unemployment rate going over 10% (from 9.4% presently). He expects the FED to keep rates very low for some time while inflation is being kept in check but warned against leaving gov stimulus policies in place too long.
Little was accomplished today & that pattern may continue to Labor Day. The graph below shows a day that was about as flat as they come.
Dow Jones Industrials --- 6 months
No comments:
Post a Comment