Apple blew the doors off with earnings at $1.82 per share. PPI posted better than expected numbers and certainly takes the Fed off the inflation hook. Housing numbers didn’t impress anyone. We’ll stick with our neutral market call while leaning towards the bullish camp.
Look at it this way, if you had 500 million or so to invest what would you do? Buy stocks after a 55% run from the bottom? Loan money to others or increase company investment, betting on a V shaped recovery? Or, buy treasuries which yield a real rate of return around 4.75%. Give me Uncle Sam’s full faith and guarantee any day or at least until there is no doubt about an economic recovery.
Stocks have gotten off on the wrong foot, starting in [...]
Results of the 10 year auction just hit the tape, [...]
