Jumping into the Cold Water
January 2nd, 2008 6:41 am | by John Jansen |I broke the ice for this endeavor several days with an initial post which was intended to make sure that I could function effectively in this little corner of cyberspace. It seems that I was successful and now I will write for real and pray that the ice doesnt crack ,leaving me adrift in the icy water.
The fixed income market is opening mixed this morning with modest gains in the short end of the yield curve and modest losses in the longer maturies. (Hence the catchy title ,”Across the Yield Curve”.)
There was little news to move the markets on the first day of 2008 but a German Bund auction and another spike in the price of oil did catch the eye of some market participants.
Later today the there will be some economic data as the ISM releases its monthly data and early in the afternoon the FOMC will release the minutes of the last meeting.That will provide investors and speculators alike a window through which they can view the collective psyche of the financial solons who gathered to discuss monetary policy and the near term course of interest rates on that chilly December morn.
JJJ
