Bill Sullivan
Bill Sullivan
ahead economic fed stay telling today
The Fed is telling us today they want to stay ahead of the economic curve.
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These (the Nasdaq and oil) are the key factors driving prices higher in a very thin environment.
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This is a very fragile recovery process. It's been reliant on these low borrowing costs. If we remove them, we effectively deny the economy its support.
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The nations in Asia, Russia and Latin America have pressure to raise cash, so they are dumping their commodities on the global marketplace and that's pushing prices lower.
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In our judgment, this pattern could be another exhibition of household balance sheet stress, as the shift would seem to suggest that a relatively small rise in 30-year rates apparently excludes a significant number of prospective home buyers from qualifying for mortgage credit.
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For the first game of the year I thought our guys played well. They came out strong and really took it to them in the first half.
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Good news on the recovery front. Obviously, equity investors feel that this is an environment that produces better earnings.
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The dominant influence (in the bond market) is the weakness in the Nasdaq.
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The friendly data such as the decline in the NAPM non-manufacturing added support,
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And she listens better. We also have a very high level of love and respect for each other.
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All of a sudden the supply challenge will be taking a quantum leap.
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This is a continued negative reaction to Friday's employment report. More investors are realizing the Fed may tighten policy more aggressively than originally thought.
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The markets pretty well anticipated the context of President Bush's proposals. The euphoria is over and now the cold reality of Washington politics will dominate.
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The market is trading very defensively. That is putting downward pressure on bond prices.