{"id":191833,"date":"2009-06-19T17:25:00","date_gmt":"2009-06-19T22:25:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/19\/economics-update-196\/"},"modified":"2009-06-19T17:25:00","modified_gmt":"2009-06-19T22:25:00","slug":"economics-update-196","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/06\/19\/economics-update-196\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>It&#8217;s a pretty slow day, at least until the FDIC gets into the act this evening.<\/p>\n<p>In any case <a href=\"http:\/\/money.cnn.com\/2009\/06\/19\/markets\/bondcenter\/bonds_libor\/index.htm\">Treasuries are up up slightly<\/a>, which means that yields are down, which removes a potential upward pressure on interest rates.<\/p>\n<p>BTW, when one refers to debt instruments issued by the US Department of the Treasury, are they &#8220;Treasuries&#8221;, or &#8220;Treasurys&#8221;?  I&#8217;m not sure.<\/p>\n<p>In the meantime, the idea that the consumer may be engaging in a longer term is bolstered by statements by the CEO Coldwell Banker, who notes that, &#8220;<a href=\"http:\/\/www.cnbc.com\/id\/31431394\">The more important &#8216;move-up&#8217; buyers were absent<\/a>,&#8221; from the market.<\/p>\n<p>People are paying down debt in a big way, as opposed to up-sizing.<\/p>\n<p>All we have left is currency and energy, and the <a href=\"http:\/\/money.cnn.com\/2009\/06\/19\/markets\/dollar.reut\/index.htm\">dollar continued to weaken<\/a> as investors looked more towards return and less toward safety, while both <a href=\"http:\/\/money.cnn.com\/2009\/06\/19\/markets\/oil.reut\/index.htm\">crude oil<\/a> and <a href=\"http:\/\/bloomberg.com\/apps\/news?pid=20601087&amp;sid=aCQCJMhpQFvs\">wholesale gasoline<\/a> fell sharply on reports of inventory growth.<\/p>\n<p>Don&#8217;t expect to see this at the pump for a while, the AAA reports that <a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/06\/gasoline-pricesretailers\/\">retail gasoline was up again<\/a>, which makes it the 51st day since it&#8217;s fallen.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s a pretty slow day, at least until the FDIC gets into the act this evening. In any case Treasuries are up up slightly, which means that yields are down, which removes a potential upward pressure on interest rates. BTW, when one refers to debt instruments issued by the US Department of the Treasury, are &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004,1088],"tags":[],"class_list":["post-191833","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191833"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191833"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191833\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}