Alan Ruskin
Alan Ruskin
attention clearly data dollar expect fed giving market quickly shift
While the data is clearly dollar positive, I would expect that the market will quickly shift back to the attention it is giving to Fed policy.
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Poor employment trends clearly are weighing on sentiment, ... The (IBD) data is consistent with a meaningful decline in the Michigan survey.
clear inflation signals
we still don't have any clear signals that inflation is on the way up.
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As outgoing Fed chairman, he's clearly concerned about the asset cycle and the prospect the low concern on credit risk is going to be associated with a decline in asset prices down the track,
clear inflation lower margins point profit pushing rise rising seem sign taking terms
I think the only clear sign that would really tell you that inflation should be rising at this point is, of course, the rise in hourly earnings, ... But at this stage, from what we've seen, corporations seem to be taking it in terms of lower profit margins and, therefore, not necessarily pushing up prices.
clearly economy good head hurricane steam
Clearly the economy had a good head of steam on it right through the hurricane period.
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In the aggregate, the economy has clearly stalled, and at best grew close to zero in the second quarter,
bond broader confused cross influences stick trend view
These cross influences are confused enough that one has to stick with the broader trend that we still view as bond negative.
caught market minutes somewhat
These minutes have caught the market somewhat off-guard,
below data decent dominated employment october rising services since soft tend third time trends weakness
Employment slipped for the third time since November, and is now back below October levels, ... Since weakness in services employment has dominated the soft employment trends in this cycle, this data will tend to deflate rising expectations of a decent payrolls number.
adding consumer either energy far goods producer quite rather sign
Quite clearly, energy is still adding to consumer prices, but everything else is rather subdued, ... As far as goods are concerned, either at the consumer or producer level, their is no sign of inflation.
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There should be no doubt that instability in the region should have a profound impact on the long-term risk assessment globally.
feels fresh require
It feels to me it will require something fresh to really get it going again.
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I don't think per se jettisoning Snow would be seen as dollar negative. The mere fact that we've got a change of guard isn't necessarily dollar negative. These things happen. Presidents do change personnel.