I Wouldn’t Buy Bonds at This Time: Albertson

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Oct. 11 (Bloomberg) -- In today’s “This Matters Now,” Robert Albertson, chief strategist at Sandler O’Neill & Partners, talks with Tom Keene about the impact of rates on U.S. banks and preparation for a jump in rates as the Federal Reserve moves to end quantitative easing. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

That due to the world of jamie dimon and the other major banks?

With banks, the long and going up is helpful, but the short and needs to go up to do any really decent good.

Here's the point.

If you consider where rates should be neutral, not tight third the rate should do for an half.

The fdic just sent a circular out to all banks, even small ones, saying we would like you to tester portfolios for a 300 to 400 point in spike.

Everyone knows this is going to happen.

Rates are going to drop.

I am worried about how because if they go up there and a sloppy fashion and i would recommend richard kruse perspective, is going to be a bumpy ride, but every time the reset, -- we have to simplify this discussion.

You can't control long rates.

A brits and said they're going to go up, but the short rates is the problem -- is the province of fed chairman yellin.

In general, the sooner they start making a move, even if it is first at the long end, will be better.

It is just pressure building up.

When the mobile pops it pops loud.

Do they really want a 300 or 400 basis point difference between high and low?

It is causing a lot of damage.

The irony is if everyone is so fearful of the fed coming out of stopping its tapering, of raising the policy rate, the irony is it is mechanically very easy.

We don't get is if it is not doing any good, why are they wearing about a causing much harm?

In the end, the economy is so fragile that looked it everyone is paralyzed.

50 seconds, can you buy bonds here?

I wouldn't. you have a challenging market.

Not my opinion, the opinion of robert albertson.

We need to go to washington.

Sara eisen is in washington at the international monetary fund meetings.

Joining her is peter orszag.

Another must watch and must listen.

This is "lumbar surveillance." -- this is "bloomberg surveillance."



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