Banks are weakening rather noticeably and SPUZ are bid and are rallying by 1% after a flat opening. Credit quality seems to be worsening form what I read. AAPL, AMZN, GOOG, are studs once again leading the way. Reits are rallying which is in my opinion just nuts, the losses that are starting to flow out of CMBS loans are enormous...cap rates are going up, vacancies are increasing etc....I feel like REITS are perhaps the short of the year at these prices (AVB@75.35, SPG@70.6 etc....)
Treasuries are getting whacked , stronger economy or people getting worried about US credit?? That remains to be seen but you know what I think.
This rally today in equities is suspect
JB
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