Market indicators—Most indicators changed little over the previous month. VIX decreased slightly, closing the month at 25.61, while OAS continued to inch closer to its typical range. The Treasury yield curve spread narrowed further, but it remains significantly higher than pre-crisis levels, indicating that the market continues to believe interest rates will rise. In keeping with positive news, the U.S. equity markets returned about 3.73% for the month of September (as measured by the S&P 500 Index).
Economic indicators—As these indicators tend to look backwards, most continue to show signs of weakness. NF PAY shows that the job market continues to remain weak. The core PCE price index—inflation excluding food and energy—has been steadily declining since February, which could be a sign that the recovery will not be swift. In spite of this, consumer spending increased to its highest level since October 2001, due in large part to the “Cash for Clunkers” program.
-------
- 市場狀況持續改善，S&P500在9月份上升了3.73%。
- 經濟指標大多仍是處於較弱的區間。就業市場依然疲弱，核心通膨的低落也暗示經濟將是緩慢的復甦。消費者支出的強勁，主要則是來自於政府舊車換現金的政策刺激。
Market update: (10/22/2009)
The graph below is from dshort.com : "Four Bad Bears".
沒有留言:
張貼留言