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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (31618)5/30/2000 5:58:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
They are asking why did market rallied on strong consumer confidence number, the reason techs are selling off is that old economy may not have enough 'money' as result of higher rates to invest in new economy, the facts are that although durable goods order is falling the interest rates are high the real rates are at all time high, the spreads between TB's and triple a bonds are wide but still the confidence in the economy is high, the economy is lsowing down but confidence of consumers remains high, although this number came on back of nearly three months of market correction we could have seen this number lower, I am little worried that if slow down is too fast we again would see some selling so for us ideal number is that 'confidence' remains high but GDP slows down as consumer credit becomes dearer and housing starts are dented as a result of higher interest rates, from housing to NAPM I would like all to cinfirm this trend. A number that should have resulted in a sell off led to a low volume rally if Friday falls in line we may have a higher volume rally, this market will be worst impacted by faster than expected slow down going forward in two months, the interest rates and other factors would soon appear in the numbers from next month most probably..
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