Monday, July 2, 2007

LIQUIDITY TALK. BOND RALLY?
[Latest Global Dollar Liquidity Measure: +14.6% annual growth rate; latest Endogenous Liquidity Index: -4.6%]

James Cramer asks investors to "recognize the bond rally" as a bullish sign. I'm not persuaded. Treasuries may be rallying, but corporates are not: spreads are rising.

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