After a rough start to the week it looks like today we will get a ‘pause that refreshes’. I would be surprised to see the gains last long–but flat on the day is fine.
The S&P500 futures are up near 2/3% and the 10 year treasury after hitting 1.57% yesterday (but closing at 1.53%) has traded down to as low as 1.49% overnight–now at 1.50% at 6 a.m..
The biggest issue on the agenda at this moment is the debt limit ceiling issue–resolution of this issue may set stocks up for a ‘relief rally’ late in the week or early next week–we’ll see.
If you in the mood for a little bargain shopping this page shows all the $25/share preferreds and can be sorted to show losers (the potential bargains). I am always watching, but buying is limited as there is likely more interest rate pain ahead–just doing a nibble here and a nibble there.