Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

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    Europe has calmed down; it is not moving global equity markets any longer. I didn't say it would NEVER move the markets again; I said it is no longer moving markets now.

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    The Street is enamored with the old "sell in May and go away" philosophy; everyone seems poised for a sell-off, or at least a consolidation. Never mind that many of those spouting these clichés have lost a ton keeping their short positions on for the last couple months: The economy is just not improving the way everyone keeps saying, they insist, and dammit I am going to be right — at some point.

  • Something is happening, something has changed this week. For years, investors have been hiding in relatively risk-free assets: U.S. Treasurys. But this week is seeing the beginnings of a reallocation trade going on from fixed income to equities.

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    Tamer inflation (somewhat): The dollar dropped, stocks futures rose a point or so, as February Consumer Price Index came in at 0.4 percent, in line with expectations, with core at 0.1 percent, slightly below expectations. Yields on the 10-year Treasury moved up to 2.33 percent. This has been a big week for bonds: The 10-year closed last Friday at 2.029 percent, it's up 15 percent in five days.

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    Is there anything safe from government interference? It's a silly question, I know, particularly when it comes to high gas prices in an election year.

  • Savings Bonds

    Treasurys remain the big story: The yield on the U.S. 10-year note hit 2.3479 percent, the highest level since Oct. 28. The U.S. 30-year bond yield hit 3.4902 percent, the highest level since Sept. 2. The dollar finally appears to be taking a break; gold down fractionally and European stocks are trading mostly higher.

  • Inflection point! Something seems to be happening, but what? Money is moving around. The global economy could go either way, but it seems to be improving.

  • There's several notes floating around today about Apple and how amazing it is, but there is a simpler way to look at it.

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    This is a rare year: with the exception of one notable down day (last Tuesday) it's been almost straight up in 2012. The S&P is now up 11.1 percent for the year; this is the best quarterly performance since Q4 2011 (when it was also up 11.1 percent) and the best first quarter since 1991.

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    Treasury yields are again rising this morning, with the 10-year at 2.188 percent, the highest since October. The dollar is at the highest level in over six weeks. This, of course, is the Fed's worst nightmare...an improving economy...with a little inflation from gasoline...igniting a dramatic move out of bonds and into...stocks and, possibly, corporate bonds. Remember: the Fed has said they would keep rates low until 2014.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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