Mike's Mid-Day Minute, Wed Nov 22, 2006

[Mike Paulenoff]

For the past week the TLTs have embraced the “slower growth” scenario, inspired no doubt by the very negative data coming out of the housing sector. Slow but surely climbing bond prices have occurred despite the continued climb in equity prices and the stimulative impact of lower oil prices since mid-summer, which arguable could impact the consumer like a big tax cut. But, no sense in debating the merits of relatively robust economic growth going forward when the bond market appears to be convinced of the opposite.

Read more and view the technical chart analysis at http://www.mptrader.com/markets.php