pied--
no, stodgy in that they have more cash per share than the current market price<G>.
THAT kind of stodgy.
i agree that the market has already priced in a move of 25BPs, but what i am concerned about now is how long we keep this up. usually these rate worries dont last more than a few weeks... we have passed that point and i am ready for it to stop.
on the BOJ numbers, dont get me wrong... i am long some nikkei options that have already gone up and i think will continue. still, the numbers the BOJ just put out were kind of...uhm... manipulated. the only thing that expanded in the japanese economy was government spending. at any rate, its not really inflation or growth, but reflation of deflated economy. the overall point is that the recovery is far from over, has a long way to go, and does not exactly indicate widespread global inflation. in short, the sell off in bonds was WAY overdone.
anyway, i guess i have ranted long enough.
good luck to all,
trey |
