Market Insider
- Europe Has Wall Street's Bull on a Short Leash
- Hostage to Headlines
- Traders Worry Over 'Possible Risks' During Long Weekend
- Oil Declines, but Doesn't Help European Consumers
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
- Stocks to Watch: CHK, PAY, FB, MS & More
- Facebook and Morgan Stanley's 99 Problems
- Markets Could End Week Quietly
- Stocks to Watch: CHK, PAY & More
EDITOR
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Rally's Low Volume Prompts Question: Whither Buyers?
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CNBC Executive News Editor
The stocks of regional banks, which are highly vulnerable to the commercial real estate market, were higher for a second day Tuesday. The KBW regional bank ETF was up 1.8 percent.
In another corner of the credit market, corporate issuers have been finding ready buyers for their debt. Last week, the total investment grade issuance was $23 billion and the total for all of October was $51 billion. The record month this year was May when $90 billion in investment grade debt was issued.
"There's an almost rush for the gates mentality. If you want to get it done this year, and lock it in..now is the time to do it when people have the focus, balance sheet to get it done," said George Goncalves, Treasury strategist at Cantor Fitzgerald.
Goncalves said a real test for markets will come next year when lower quality commercial mortgages and leveraged loans are rolled over. "The good stuff is clearing now. the question is what happens mid next year," he said, adding it could mean higher rates.
What Else to Watch
The earnings of several retailers - Whole Foods [WFMI
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], Chico's[CHS
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], and B.J. Wholesale [BJ
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] - are expected before the bell. The Limited [LTD
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] reports after the close.
President Obama continues his visit to China. Treasury Secretary Tim Geithner and Small Bsuiness Administroat Karen Mills hold a forum on small business financning at 9 a.m.
Sweeter Offer?
The Wall Street Journal reported that Hershey and Italian chocolate maker Ferrer are discussing a possible join bid to rival Kraft's $16.7 billion offer for Cadbury.
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