65 ordspråk av David Gilmore
David Gilmore
The market is pretty bullish on the dollar,
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The market is pretty bullish on the dollar. With the U.S. economy enjoying low inflation and strong growth, and with the stock market picking up again, it makes it a tough go for the euro.
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The Medley report was instrumental in pushing up the dollar against the yen.
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The message from Fed officials is clear: You don't take a record expansion and shut it off with two months of data. There is no risk of a hard landing.
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The question is, is this a turning point in the US trade deficit?
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There is no immediate threat of intervention by the European Central Bank.
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There was no substance to this rumor. Nonetheless, it caused a short-covering bounce in the yen.
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Unless we get some more serious signs of demand slowing, the Fed is expected to raise rates again at its next meeting,
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We are near a point this month that could see the early arrival of the weak dollar trade.
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We believe the ECB will follow the Fed rate cut relatively quickly with one of its own,
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We believe the yen will weaken substantially into the first quarter of 2001,
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We have to start thinking about the Fed moving from a neutral to a more restrictive policy. I wouldn't rule out a 6 percent Fed funds rate if the economy stays hot.
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We think that as long as labor market conditions remain tight and oil prices high, the Fed will retain an inflation bias which could last until early spring.
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What makes some red in the face is that (Greenspan) can speak about Fed policy and the economy just days after leaving the Fed, when his insights are most relevant. Look at Eurodollar futures today if you have any doubt.
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What we do know is somewhat reassuring, even if there are significant gaps in his international economic policy resume.
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