Wall Street Webcasting presents exclusive video of Rich Gordon, the highly regarded Fixed Income Market Strategist of Wells Fargo Securities (NYSE: WFC). This week, Gordon discusses Federal Reserve Chairman Ben Bernanke’s testimony and if it is feasible for the Fed to scale back assets purchases later this year.
Gordon doesn’t believe that this will occur on time nor will it be with full force. With the Wells Fargo Economics Group’s forecast of GDP being at 2.2% for Q3 and 2.4% for Q4, Gordon believes that the economy is not strong enough yet for this. Issues like the 30 year Mortgage Rate have increased almost a 125 basis points before falling back over the last few weeks have been a “drag on the economy.”
Also, Oil prices have risen over 11% since June. Gordon believes that the rise is from a combination of “a positive correlation with the bull run in stocks coupled with the continued instability in parts of the oil rich Middle East…”
To hear analyses the full analysis with a look at the Spread Markets, tune into Wells Fargo Securities’ newest video.Please visit the following link to view the video: http://www.wsw.com/webcast/wav/