[top]
[top]
Should resume narrowing from here.
[top]
Seems these spreads relate directly to the equity markets, which are simply that last step down in the capitalization.
I’ll be looking to see if the equity markets can rally much without these spreads tightening as well.
[top]
Moving sideways.
[top]
[top]
Looks and feels like spreads will be generally narrowing for a considerable period of time.
Bank earnings are better than expected with revenues growing nicely.
GDP, income, and spending being sustained by a growing government budget deficit, exports, and housing leveling off and no longer subtracting from growth.
‘Inflation’ continues with Saudi’s supporting prices and pass-throughs intensifying.
[top]
[top]
Looks to be slowly zigging and zagging its way higher.
[top]
 "click for larger graph")
 "click for larger graph")
 "click for larger graph")
 "click for larger graph")
 "click for larger graph")
The wiggles down give the Fed comfort that markets are functioning to price risk.
[top]
Pricing of risk looking more like it’s settling into a range.
[top]