On Wall Street Trading Desks, Here's What They're Talking About Right Now

phone booth, street phone, telephone

Photo: Flickr / boklm

Michael Block of Phoenix Partners passes along the topics of conversation he’s having with clients:

  • President Obama speaks at 1:30PM today from the East Room.  Rhetoric overnight sees him not budging on his opening gambit – $1.6 trillion in tax hikes over 10 years.   Market will not like this, but this is politics.
  • German two year auction at a negative yield – the last time this happened was July and was a contrary indicator.
  • Greece looking like a month end event.  Spain looking like a 2013 event.
  • CSCO was less worse rather than better.  How it holds up is a big tell.
  • ANF and SPLS show just how important sentiment is in this tape and especially in the consumer sector.

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