Market Analysis

According to Thursday, the index of the dynamics in the U.S. factory orders for December 2008 was -3.9% (m /m) with an average forecast, equal to -3%. The significance of the previous month for this indicator was revised downward to -6.5% vs. -4.6% previously.

However, in this case it is necessary to note a rather sharp increase in labor productivity in the U.S., which amounted to 3.2% against expectations in the market at an average value of 1% and 1.3% increase in this indicator in November 2008

This fact, combined with the program “Obama gives a good American economy for the future. Perhaps, therefore, the reaction of financial markets in the U.S. yesterday the U.S. was neutral statistics. The market seems to have now is not primarily the information that has been with the economy after the credit shock in 2008, and the fact that it may change under the influence of policies governing structures.

Against that backdrop, in spite of the uncertainty with regard to the current United States Department of Labor statistics, U.S., global stock segment shows a fairly positive momentum. This, in turn, supports the “bearish” trend UST. Ten-year U.S. treasury bonds yesterday completed a tender, only a small decline in profitability, which ultimately amounted to 2,91% pa to 2.90% on Wednesday. However, during the session has been tested by marking a new peak last month, 2.95% per annum.

Overall, the trend of rising rates of Treasury debt to be valid. However, the Fed is clearly in the medium term will inhibit this process through centralized purchases of Treasury bonds on the open market.

Reviews and ideas