Anthony Crescenzi
Anthony Crescenzi
news
Again, another whipsaw day, ... What big news did we get today? ... Nothing.
context higher last released
In the context of the PPI released last week, which was much higher than expected, the CPI is a big relief,
cut given market program
How in the world could he be unfriendly given that they just cut rates? He's got to keep on with the program -- which is to keep prodding the market to stabilize.
admitted cause fed greenspan market might news past reactions response sending signals sudden volatility
The Fed doesn't want sudden market reactions in response to news that might be difficult; they want to cause as little volatility as possible, ... Greenspan has admitted to sending signals in the past -- it's the way they operate.
clinton happened hurt market people report stock yesterday
In the morning, many people thought the Clinton report would hurt the stock market - but it happened yesterday and Wednesday.
borrow capital companies condition corporate economy higher income less meaning past profits rarely seen sensitive spending year
The economy is less interest-rate sensitive than it was a year ago because of income growth, and we have corporate profits higher than capital spending -- a condition only seen rarely in the past 40 years -- meaning companies don't need to borrow as much,
bonds last turned
The Dow went from 8,360 to 8,420 in the last 45 minutes. That turned the bonds down,
cause chinese credible equity fear good inflation social
The Chinese devaluation would be devastating to the equity markets, and it would be good for bonds, ... But that is not a credible fear right now. The inflation that would come from devaluation would cause social instability.
comments either hoping people provides rarely rate signal
The comments don't hint either way really. People were just hoping for a signal about the rate move, and he rarely provides that.
consumer due friday inflation news next price producer tuesday
The inflation news due out on Friday with the producer price index and next Tuesday with the consumer price index will probably be unfriendly,
japanese robotic statements
And it was just more robotic statements about the Japanese yen.
equity
And if not for the gyrations in the equity market, it would have been a lot thinner.
acting behavior fed resolve
The market's applauding the resolve of the Fed and acting accordingly, ... In that way, its behavior is rational.
further low market percent rate reason
The market has put a low probability on further rate cuts, and I think that is part of the reason why we can't get to 5 percent that readily.