S&P 500 FINANCIALS INDEX
| Value 213.45 | Change 2.02 | % Change 1.0% |
The Alerian MLP index rose a fraction to the 305s, trying to establish a new 2010 high. The REIT index is up 1+ to the 199s, clearly another high but still a very long way from its record highs of 360. Junk bond funds are a little soft, but generally near 2 years highs with corresponding low yields. The yield on the 10-year Treasury bond is pretty much even at 3.65%.
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
Commodities joined in the rally in the markets. But oil is not far away from the 80 level while gold is trying to build a firmer base at 1100.
| CLJ10.NYM | ...Crude Oil Apr 10 | ...82.59 | ... 0.89 .......(1.1%) |
| Gold | ...1,126.20 | __3.70 | __0.3% |
Wholesale prices dropped in Feb by the largest amount in 7 months as a big drop in energy prices offset higher food costs. The Labor Dept said wholesale inflation dropped 0.6% in Feb, much larger than the 0.2% decline expected. Excluding food & energy, prices edged up a slight 0.1%, in line with expectations. While overall wholesale prices have risen 4.4% over the past 12 months, core inflation, excluding food & energy, is up a much more subdued 1% in the past year. However, gasoline pump prices have resumed rising over the past few weeks & now stand at a national average of $2.79 according to the AAA (up from $2.62 a month ago & $1.91 a year ago). The CPI report is due tomorrow & is expected to show inflation for both overall retail prices & core prices rising by just 0.1%.
•Producer Prices in U.S. Fall More Than Forecast on Decline in Fuel Costs
Inflation exclud food & energy - 1 year
Tiger Woods announcement that he will return to the Masters Tournament next month was more important than the Federal Reserve's interest rate announcement. Oh well. There's not much happening as the Federal Reserve's statement was greeted with a big yawn. Please keep in mind that high interest rates are expected to come this year & the number of months remaining is dwindling.
Dow Jones Industrials --- 2 weeks
Happy holiday to all!!!
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