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July 28, 2005

Today's rally, Thurs., July 28, 2005, 4:18 PM

I attribute today's rally, like yesterday's, to be consistent with the pullback in the 10-year U.S. Treasury Note yield, which takes pressure off the U.S. real estate market, utilities, consumer lenders, small local and regional banks, and the like.

For Intra-Year Traders, this improvement in the bond market is not likely to persist, however.

So, because I believe that yields and rates are going to start moving higher soon, I still anticipate that equity prices will trend lower through the 2H05.

Posted by Posted by Bill Cara on July 28, 2005 04:22:33 PM | Category: Cara Today in the Market