Some Lessons; Averted Crisis: Cramer's Best Blogs
Jun 29, 2013 | 03:47 PM EDT
This morning, when I interviewed Professor Robert Shiller about the Case-Shiller index, I asked about raising the fed funds rate and it wasn't like he blanched. Instead, he agreed that this is the kind of number that could warrant that type of action. So why buy bonds if that's the case? Why should the Fed play the role of the Dutch boy with the dike? Now, we can't have a straight line back up. Bonds are getting hit too hard for that. And I imagine at some point, if the bonds stay this weak, we are not going to be able to ignore them and sellers will hit the tape. But it is nice to see, for a moment, that rates could go up and it didn't bring out a horde of selling. I think that's the market getting used to strong data, data that should take the 10-year to 3%, and it can't rally until we get a bond rally on strong news, which isn't too much to hope for after this selloff, believe me.
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