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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

Mixed Signals

Four more banks were shuttered by the FDIC over the weekend as the body count for failed banks has now hit 30 this year so far. Strategists are expecting the rate of failure to climb and we are currently pacing ahead of 2009. Much of the economic news though has been better than expected and stocks are definitely in a bullish phase. Tomorrow we will hear from the Fed to see if there will be any changes in the interest rate environment and our guess is that the language will be the same. So there you have it, the crisis has been averted, the economy is beginning to grow at about 4%, while simultaneously the FED is in panic mode, keeping rates at zero and bank failures ramp up. For the short term, you may want to bet on the stock market, because it is telling us that April numbers are going to be good and the headline risk is noise for now.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.