FRIDAY JULY 31, 2009

Impressive Performance

On paper, the Dow Jones Industrial Average will post a modest gain this week. At the time of this writing, it was up roughly .85%. Nothing special. However, when one considers the dramatic 8.7% run-up in prices in July and the recent U.S. Treasury auctions, this week’s performance is impressive.

 

The U.S. Treasury issued more than $200 billion in new securities, ranging in maturities of months to seven years. This record level of Treasury funding provided stiff competition for the stock market this week. In light of this, it is remarkable that stocks were able to hold their recent gains and tough out a modest gain. It demonstrates the underlying bid for stocks.

POSTED AT 1899-12-30 11:46:00.0

KEN ENTENMANN, CFA
SENIOR VICE PRESIDENT AND
THE DIRECTOR OF INVESTMENT MANAGEMENT SERVICES

Ken is a Senior Vice President and the Director of the Trust and Investment Services at Alliance Bank, N.A. He has 23 years of investment experience and oversees the management of assets totaling $1 billion. He holds a B.S. in Applied Economics and Business Management from Cornell University and an M.B.A. from the William E. Simon Graduate School of Business Administration at the University of Rochester. He has also earned his Chartered Financial Analyst designation. He is a member of the Executive Committee of the Trust Division of the New York Banker's Association. He is also a director of the Central New York Community Foundation.

RECENT POSTS

Targeted and Temporary


Better Unemployment Number


The "Safety of Bonds" Myth


Just like that!


Ugly August


Bright Side of Double Dip Fears


All eyes on Wyoming


Lack of Business Confidence


Are bonds forecasting a double dip?


Are rates too high?

The opinions expressed here do not represent the views of Alliance Financial Corporation and Alliance Bank, N.A. This communication is not an offer or solicitation for the purchase or sale of any security, is for general informational purposes only and does not provide personalized investment advice. When making personal investment decisions you should consult your investment adviser or rely on your own research. Copyright 2008.