There really isn't much more I can say than what Kevin from Morgan Keegan has noted. I was just telling a friend of mine that the bond market is banking on the fact that the Fed will begin selling short-dated treasuries and purchasing long-dated treasuries, but I hadn't heard that this is called "Operation Twist". The bond market appears to be frontrunning this expectation, as the 10 and 30 year yields have both declined, while the 2 year yield has remained unchanged. On the equities front, I'd look for a lot of red today, and hopefully when Congress gets back from their 3 week vacation hiatus on Tuesday, they'll be ready to come through with real job growth plan. None of this green jobs, I'm talking New Deal type job growth, that will spur economy....
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