Cary Leahey
Cary Leahey
core fact liked market number pipeline pressure rate underneath
The PPI number had some pipeline pressure underneath the surface, but the market liked the fact that the core rate was up only 0.1 percent,
eyebrows inflation january kinds market raise report wage
These are the kinds of things that raise eyebrows at the Fed. The implication that this January report has for wage inflation is bothersome to the market and the Fed.
consumer goods passed though wage
Even though the PPI has accelerated, it hasn't passed over to consumer goods prices, and it hasn't passed through into wage gains,
almost core decline deflation equally favorable fed inflation interest last might next notion raise rate rates reminds residual risks supports surprise week
You got a favorable surprise on the CPI. We had the first decline in the core rate in 21 years, ... It just reminds the Fed, which said last week that the risks of inflation and deflation were almost equally balanced, that you still have some very residual deflation risk. And it ... supports the notion that the Fed might not have to raise interest rates at all next year.
bond clearly highs market paid points prices
On the prices paid index, you're down 50 points from the highs in October, which the bond market clearly likes.
backed bit data economy lurking rates suggesting survey treading water
Yet another survey of the economy is suggesting sustainable strength. Rates backed up a little because of this report, but you're treading water a bit because of payrolls data lurking on Friday.
bond business core fed inflation later market report sign took
The bond market took this report as a sign that core inflation may be bottoming and the Fed may still be in the tightening business later this year.
asked bond care crazy data fed market question whether
The bond market doesn't really care about the payrolls data now because you're even getting the crazy question asked about whether the Fed can ease.
confidence fourth gives hang impressive percent plus quarter
It's an impressive number. It just gives you more confidence that you'll get 4.0 percent plus (increases) in the fourth quarter and you'll hang in there through the first.
certainly early impressive lowest since
It's certainly an impressive number, it's the lowest since early 2001.
average beer cheap check cold couple dollars ironically knock large security social sums talking worth
We're not talking about large sums of money. It is ironically only worth a couple of dollars to the Social Security check of the average American. They may be able to knock back a cold beer in a cheap bar.
care days definitely employment nobody report
This is one of the days when nobody is really going to care because the employment report was definitely weak.
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One cannot deny that Katrina ironically may have had a positive effect on this index because of the big surge in orders.
afraid companies eaten everybody front left nobody standing wants
Companies aren't afraid of being left in the dust; they're afraid that if they go first they'll be eaten by sharks, ... Everybody is standing in front of the turnstile, and nobody wants to go through.