Monday Morning Musings
The markets are getting a small bounce in early trading, after closing at their lows on Friday. There should be some sense that stocks are heavily oversold, after one of the worst weekly declines in the last 5 years. I still believe the markets will bounce this week.
Investors may have been disappointed that there were no blockbuster M&A deals announced this morning, like there has been on many Mondays. But the pace of M&A was due for a breather, credit concerns notwithstanding.
Bond yields are slightly lower this morning, with the 10-year around 4.77%. And oil is also trading down, around $76.50. Also, Asian markets were almost all higher overnight, which bodes well for our markets.
Other than that, there is not a ton of news. We get some big economic reports this week, like the core PCE (inflation) tomorrow, and the payroll report on Friday.