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One big reason for the -- there are a 140 points right now is Fed Chairman Ben Bernanke he was speaking last night and he said the Fed's dual mandate objectives.
Still haven't been met.
So we're not there obviously and the maximum employment part of the mandate on price stability.
Inflation is now about 1% which is the low.
Our 2% objective so both sides of our mandate both the employment side.
And the inflation side are saying that we need to be more comedy.
Okay you heard it more accommodating -- our next guest says don't get too caught up in the bad because.
It's all talk it's no action -- perished insular financial director of investments.
You -- -- Teddy in the news and you say that all we're great right now as word play but there wasn't moving the markets look at what's happening today.
He took the market down on the 22 and may his words taken the market up today happily not listen and depend on the -- for market direction.
Allow -- you got to listen to -- of course Cheryl blood.
You know that the Fed like my -- -- you know when you -- your hand in that in the mouth of a lion you have to take out real slow you just get injured and out and I think that's the situation there and they're just trying to posture and -- the market psychologically prepared.
Stunt that he -- and asset purchases in the eventual increase in rates mean.
Until we see that he -- to sell -- right now what you have.
Manning -- which is happening you know but you know you've got -- calling him mr.
-- -- and if you look at interest rates you look at how I think.
And he really at this accommodative stance has been great for the housing recovery but I've had several analysts -- when he's out now -- Look this economy is not strong enough they can't pull back they can't begin to taper.
And it seems like even the Fed Chairman himself is -- backing off the bat I mean that tells me that the market is gonna have a nice second half of the year.
-- I think that the -- and have a nice thirty year because as you look a little further out 2014.
-- earnings this mess that we're seeing uncalled for -- -- PE earnings growth of a double digits in you have to think that there are a lot of things that are included in those incidents including.
That health care bill coming full effect.
And also including some Muslims -- spending cuts I think that you know that that earnings cycle is gonna pick back up and and hopefully at that point.
You know we'll see -- -- finally stopped person bonds and maybe he didn't indicate when they're gonna raise.
That the poor.
Is he about that Teddy you like bonds right now because remember what happened at a ten -- the job in the year old when you last time the -- -- we got the decision and then the press conference by Bernanke.
What about the by the -- market now deal -- a lot of people of gotten burned in their very frustrated with bonds.
Well the four -- the last five years at least we we have not been buying any long term bonds who is staying pretty short we have a pretty plain Vanilla.
-- strategy -- -- latter out ten years and we've been keeping it short so.
You know I ever since about April 3 if -- seen a noticeable rise in rates India we're waiting licking her chops waiting for race to get to a level where we can actually box for a -- -- -- a a pretty good deal.
Hadn't seen that yet but you know it's encouraging to see the -- -- a little bit.
Okay all right today -- insular financial -- thank you very much.
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