MONDAY DECEMBER 7, 2009

The door has been opened.

Friday's job report opened a door for Chairman Bernanke.  He is scheduled to speak today and the markets are looking for hints on interest rates.  The last two trading days suggest that the market believes that rates will rise sooner than it thought before Friday.  Gold has been slammed, and the dollar has strengthened.

I hope Chairman Bernanke eludes to the end of 0% interest rates.  I think the markets would respond well.  Certainly, the door has been opened.  The question is whether he will walk through it?

POSTED AT 1899-12-30 12:32:00.0

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.

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