“The Treasury market is declining once again and yields are up, but only nominally, as the fears that the U.S. faces a credit-rating cut if the opposing parties fail to reach a deal on the debt ceiling are still there. Of course, supporting the market in an overall sense is the fact that of the 154 S&P companies to have reported so far, 75% of them have beaten their numbers, and the earnings gains so far have been 18%, much higher than the overall consensus.”
Click here to read 7-25-11 Daily market notes from Chief Market Strategist Donald M. Selkin