JeeYeon Park is a writer for CNBC.com.
We saw the Treasury market sell-off accelerate Wednesday, because the duration of the interest rate sensitivity of the mortgage market has been lengthening, said Paul McCulley, portfolio manager and managing director at Pimco.
Stocks quickly retreated after a quick pop on Wednesday as the previous day's optimism faded and General Motors stirred anxiety in the market. General Motors was down more than 10 percent as the automaker moved one step closer to Chapter 11 but sources close to the matter said they don't expect a bankruptcy filing this week. The deadline is June 1. Read and listen to what the optimists and pessimists had to say on the above and more…
Stephen Gallagher, chief U.S. economist at Societe Generale and Michael Cuggino, president and portfolio manager of Permanent Portfolio Funds, both agreed that although there are some signs of growth, the economy has a ways to go before a recovery.
Big U.S. banks are “definitely out of the woods” after last year's credit crisis, but smaller community banks are still facing difficulty, banking analyst Dick Bove told CNBC.