Alan Ruskin
Alan Ruskin
asset associated clearly concerned credit cycle decline fed low outgoing prices prospect risk
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,
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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.
clearly economy good head hurricane steam
Clearly the economy had a good head of steam on it right through the hurricane period.
best clearly close economy grew second zero
In the aggregate, the economy has clearly stalled, and at best grew close to zero in the second quarter,
clear inflation signals
we still don't have any clear signals that inflation is on the way up.
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.
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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.
bank crowded japan
The Bank of Japan has effectively crowded out 'crowding out,'
bush drawing eventually market might move quite talk towards wall
There's talk Bush might actually eventually move towards drawing in someone from Wall Street, which the market might quite like really.
asset caught changed fairly far fed felt market markets obvious reaction sharp shock testimony value
There was always going to be some shock value when the Fed changed 'the considerable period' statement, but we had always felt that the change would come when it was fairly obvious that it should, and when the Fed had softened the blow, by alerting the market to such a change, ... As it was, there was no such warning, and the sharp market reaction is testimony to just how far it caught asset markets 'off-side.'
again appears bond bullish consistent data generating market reaction soft strong
Once again soft data appears to be generating more reaction in the bond market than strong data -- consistent with the bullish undertone.
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The Fed Chairman would be very happy if the bond market did some of the tightening for him,
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It's certainly a good sign as far as future pipeline inflation is concerned, ... The goods side of the inflation equation is very encouraging.
again december evidence extent judging labor market might past
The labor market has not accelerated to the extent one might expect, judging from past cycles, and we probably won't see evidence of it again in the December numbers.