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Tuesday, September 30, 2008
Treasurys Fall Amid Hopes For Bailout Package
Nick Godt
MarketWatch Pulse
NEW YORK -- Treasurys fell early on Tuesday, sending yields higher, amid hopes that a financial bailout package will eventually be approved, after its rejection in Congress Monday sent stocks plunging and bonds surging. In early action, futures for the broad S&P 500 index were up 2.2%. Two-year note yields were up 4 basis points at 1.70%. Repeating that the U.S. economy is at a "critical moment," Early Tuesday, President Bush again urged lawmakers to approve the rescue plan for the financial markets. Bonds showed little immediate reaction to the S&P/Case-Schiller home price index, which fell 0.9% in July, and is now down 16.3% year on year. The Chicago purchasing managers index is expected at 9.45 am, and the Conference Board will release its September reading of consumer confidence at 10. am.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
