Jack Ablin
Jack Ablin
bank both business deal expanding fine fit ideal shift york
This deal makes sense for both companies. Bank of New York has been expanding in the custodial business and doing a fine job. This shift out of distribution is an ideal fit for J.P. Morgan.
doubt employment knowing language looking measured mind pause
After looking at the employment numbers, there is no doubt in my mind that the measured language remains. Knowing what we know now, there's no pause in 2005.
economic gives number tantamount
Any number Wal-Mart gives is tantamount to an economic indicator,
earnings economic news positive
Right now, we have this positive confluence of earnings and economic news that has been propelling the market.
chairman fed greenspan trying
Right now, the transparency we had with (former Chairman Alan) Greenspan is gone. We're trying to get some semblance of which way the Fed is going to go.
money needed
You needed to be a meteorologist to make money in this market.
bigger economy history impact improvement interest lazy looking market oil prices rates seeing services shown stock tick
The tick up in oil prices hurts, but history has shown that interest rates have a much bigger impact on the stock market than oil. And looking at the ISM services number, you're seeing the kind of gradual, lazy improvement in the economy that's not going to really get rates going.
basis market points raising rates shock
Raising rates by more than 25 basis points would shock the market so much that the Fed's credibility would vanish.
comfort companies economy evidence feeling growth people profits results seeing start taking
People are taking some comfort in results and a feeling that the economy is getting better, but there's still some caution. We need to see more evidence of a sustainable recovery. We need companies to start seeing profits more through top-line growth than just cost-cutting measures.
accounting concerns continue dominate investing seeing
Accounting concerns continue to dominate the market. We're going to be seeing this 'Prove it to me' investing for a while.
bond derived fuel invest market move raise seems somewhat
It seems like the market is obsessing on this bond market fallout, which was somewhat precipitated by the move to raise (interest rates) in Japan. A lot of the fuel that has been used to invest in this bond market has been derived from 'easy money' in Japan.
bond market seems
It seems like the market is obsessing on this bond market fallout.
change comfort economic economy fed lends sees shut slight spite
This lends some comfort to the situation. In spite of slight economic weakness, the Fed sees no need to change its strategy. It's also not going to shut down the economy too quickly.
asset bottom deal finding increasing line paying portion trading
They're going to get a deal done, but they may end up paying a premium. These firms are finding an increasing portion of their bottom line attributed to trading and asset management.