The market was looking for $37 billion, ... This continues the Treasury's effort to reduce the level of issuance. |
The market was looking for $37 billion. This continues the Treasury's effort to reduce the level of issuance. |
The market was looking for confirmation that there might be a broad slowing of the economy under way, but the data did not reinforce that view. |
The market's view about aggressive tightening has fallen just a touch because of the Dow drop, |
The minutes appear to show a smaller degree of concern about inflation risks than some may have feared, |
The new rumor now since the meeting, since they did not act, is that the Fed could conduct an inter-meeting rate change, ... This is something they haven't done since April 1994, but people feel if the payroll report is strong and it's accompanied by a high wage gain, the Fed might move as early as tomorrow. |
The news coverage on today's jobs data will likely be immense, and this will in a sense pummel the consumer with bad news. |
The patient is in need of medicine, fast. |
The pattern of the equity market lately is that it doesn't retain its bid for long. Bonds started to strengthen on a bet that stocks would weaken. It's rare that stocks hold a bid these days. |
The pending home sales data feed right into the hands of those who expect the Fed to end its interest-rate hikes. |
The pendulum has swung against the bond market in favor of the economy, stocks, and spread products, |
The potential for large market movement following Greenspan's testimony is high, given past reactions, |
The probability of such a move will increase if the equity rally continues apace, commodities continue to rise, and the labor indicators point to continued tightness, |
The productivity advance will also serve as a powerful backstop for the U.S. dollar, as it creates an environment that is good for the rates of return on U.S. assets, especially compared to other countries where both productivity growth and economic growth are lower than in the U.S., |
The question is -- and this is why the market hasn't reacted too negatively to the durable goods report -- is whether businesses ... will continue to spend given the risks to consumer spending posed by high energy prices. |