Friday, December 15, 2006

Inflation, Shminflation!

  • The market started off strong early, but has since faded a bit. Still going strong as most folks are willing to postpone the tax pain 365 days.  The big question is whether or not sellers are sleeping in tents in the parking lot, lining up to sell on the first day of January.
  • Probably the biggest financial news today is that the inflation numbers came in very tame.  This probably comes as a total shock to Fed member Jeffrey Lacker, who was the lone vote for hiking interest rates earlier this week.  In early trade Treasurys soared after news that headline consumer prices were unchanged in November while foreigners increased their purchases of Treasury instruments in October. The bond market cheers signs of tame inflation.
  • Miss USA Tara Conner in danger of losing crown due to bad behavior. (Tara's pic!)  A spokeswoman for the contest declined to give any details on Conner's misbehavior or comment on online reports about incidents of inappropriate conduct at New York bars. "Miss USA is a role model. There are moral rules that we go over with them," she said, but declined to outline the rules under which the winners accept the title.  (snip) Under beauty contest rules, if Conner were removed, the first runner-up would assume her duties. She is Miss California USA, Tamiko Nash.
  • Don't forget to stop and get a Reality Check on inflation from Barry Ritholz, today.
  • Third friday of the month means what, traders?  Pin Effects!  (From Adam).

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