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The Market At 2008-05-16 15:55:39 ET

10-Year: 3.850 -09+/32   GNMAs:    EUR/USD: 1.5591   USD/JPY: 104.1660

(14:30) Giving it all back with an uptick in flows
(14:04) Tripped and fell to unch
(13:22) Holding better
(10:10) Better. Better. Somewhat better size on bid
(08:35) Slammed lower on the better housing numbers
(08:23) Still offered into expected bad data
(07:27) Drifing lower; 10-yr -05/32 yielding 3.831%
Building Permits: Actual 978K, consensus 912K prior 932K (revised from 927K)
Housing Starts: Actual 1032K, consensus 940K, prior 954K (revised from 947K)
UofM - prel: Actual 59.5, consensus 62.6, prior 62.0

Trade Gives Back :  The market has sunk itself, taking back its nice, late data driven run while the stock jockeys try to pull back into better positioning.  The mid-curve is dragging on prices while crude has been tamed some.  Once the market pumped back up and  had the 10-yrs hanging around the 3.78% yield point for a sticky little while things began losing steam (or having it sucked out via as...

The Interest Rate Outlook

Last Updated: 2008-05-15, 16:18:37 ET

The Fed pulled the trigger on rate cuts again Apr 30, taking the funds rate to the expected 2.00% and indicating the possibility of a pause while removing concerns over risks to growth from the statement. The discount rate also got a 25 basis point shave. The market had been generally looking for a little more smack talk on inflation than what it got, so there was a reduction of price pressure...
Last Updated: 2008-05-05, 09:54:36 ET

Most people, when they talk about spreads, are either talking about a gambling line or a condiment they want on their favorite sandwich. In the capital markets, "spreads" are discussed in a different manner.
Since the subprime crisis broke last summer, "spreads" have become a hot topic for market watchers looking to gauge the conventional wisdom on things like inflation...

Date ET Release For Actual Briefing.com Consensus Prior
May 1608:30:01Building PermitsApr978K900K912K932K
May 1608:30:01Housing StartsApr1032K940K940K954K
May 1610:00:01Mich Sentiment-Prel.May59.565.062.062.6
May 1910:00:01Leading IndicatorsApr0.1%0.0%0.1%
May 2008:30:01Core PPIApr0.1%0.2%0.2%
May 2008:30:01PPIApr0.3%0.4%1.1%
May 2114:00:00FOMC MinutesApr 30