On Wednesday investors were closely watching the action in Treasurys, wondering if bond investors were onto something.
U.S. Treasury debt prices rose on Wednesday, pushing benchmark yields back below the psychologically important 3% level as worries over the tepid pace of economic growth spurred investors to buy into lower-risk assets.
Perhaps most notable, bond prices rose despite strong headwinds in the form of a warning from Fitch that our nation’s AAA sovereign ratings status could be in jeopardy if lawmakers fail to address the debt limit.
What should you make of the significant strength in bonds? Find out from Jeff Killburg, of Treasury Curve.
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Trader disclosure: On June 8, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM); Terranova owns (KSS); Terranova owns (CVI); Terranova owns (OXY); Terranova owns (TM); Terranova owns (BJ); Terranova owns (DIS); Terranova owns (PFE); Terranova owns (V); Terranova owns (HPQ); Terranova owns (FLX); Terranova owns (JPM); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (VRTS); Terranova is short (DELL); Finerman and Finerman's firm own (AAPL); Finerman and Finerman's firm own (BP); Finerman and Finerman's Firm own (CMI); Finerman's Firm owns (IBM); Finerman owns (C); FInerman owns (JPM); Finerman's Firm owns (JPM) leaps and (JPM); Finerman's Firm owns (TGT); Finerman owns (UNG); Finerman's Firm is short (IWM), (MDY), (SPY); FInermans firm is long S&P Puts, Russell 2000 Puts; Grasso owns (AKS); Grasso owns (AMD); Grasso owns (ASTM); Grasso owns (BA); Grasso owns (BAC); Grasso owns (C); Grasso owns (D); Grasso owns (HOV); Grasso owns (JPM); Grasso owns (LIT); Grasso owns (LPX); Grasso owns (MHY); Grasso owns (NDAQ); Grasso owns (PFE); Grasso owns (PRST)
For Brian Kelly:
Accounts Managed by Brian Kelly Capital own (GLD)
Accounts Managed by Brian Kelly Capital own (SLV)
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Accounts Managed by Brian Kelly Capital own new zealand dollar
Accounts Managed by Brian Kelly Capital own swedisk krona
Accounts Managed by Brian Kelly Capital own canadian dollars;
For Joe Terranova
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSWI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
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Virtus Investment Partners Owns More Than 1% Of (XLF)
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Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
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Stuart Frankel & Co and it’s partners own RDC
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own UAL
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Stuart Frankel & Co and it’s partners are SHORTS (QQQQ)
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Stuart Frankel & Co and its partners Are Short (AAPL)
For Glen Yeung
Citigroup is a market maker in (AAPL)
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