Morning update (2);
June 5 (Bloomberg) -- Verizon Wireless agreed to buy Alltel Corp. for $28.1 billion in cash and debt to overtake AT&T Inc. as the biggest mobile-phone company in the U.S.
The market loves M&A's, this adds more fuel to a decent rally. But it is still a concern that the VIX is not making new lows form yesterday and bonds seem stuck at that 4.03% level in yields. The close will give us more clues.
The dollar is lower on some ECB rate comments and oil is up. Gold should find support under these conditions, but it is lagging.
ISE equity hit a high of 314! I don't think I have ever seen that number, even during the bull market. That is 3 to 1 pure long calls over puts on all equities. It is scary optimistic mania.
June 5 (Bloomberg) -- Verizon Wireless agreed to buy Alltel Corp. for $28.1 billion in cash and debt to overtake AT&T Inc. as the biggest mobile-phone company in the U.S.
The market loves M&A's, this adds more fuel to a decent rally. But it is still a concern that the VIX is not making new lows form yesterday and bonds seem stuck at that 4.03% level in yields. The close will give us more clues.
The dollar is lower on some ECB rate comments and oil is up. Gold should find support under these conditions, but it is lagging.
ISE equity hit a high of 314! I don't think I have ever seen that number, even during the bull market. That is 3 to 1 pure long calls over puts on all equities. It is scary optimistic mania.
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on Thursday, June 05, 2008 at 6/05/2008 11:37:00 AM.
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