Josh Stiles
Josh Stiles
affect economic housing market numbers reaching softer starts stock support
The economic numbers didn't really have an affect on the (bond) market, ... Housing starts were strong, but . . . the market was already reaching support in the softer stock market and softer manufacturing numbers.
bit continues current economy economy-and-economics evidence five levels mount nearly note percent picking recovery reflect yield
The evidence continues to mount that the economy is picking up a little bit but current levels -- 5.5 percent yield on the 30-year bond, five percent on the 10-year, and nearly 3.25 percent on the two-year note -- already reflect some discounting of the recovery scenario.
basis currency data fed gaining inflation market maybe meaning morning move november pause points pressures price raises rates september
The idea that's been gaining currency in the market is the Fed pause theory, meaning that the Fed raises rates 25 basis points in September and then, because inflation pressures are contained, they pause for a while, skipping a move in November and maybe even December. The (producer price index) data this morning kind of fed into that theory.
bond chicago handling heavy market near seen selling sent though
The Chicago PMI sent us back to near the lows, though we had seen the bond market handling some heavy selling before then,
aircraft bond bulls context distorted headline market number report took
The market took the report in context -- which is that it is often distorted by aircraft orders. It didn't really ignite the bond bulls that the headline number was down so much.
cool economy fed further hikes interest later rates seems sentiment starting
The market's starting to look further ahead. There seems to be the sentiment that the economy will cool and the Fed (once it hikes interest rates later this month) will be done.
excitement initial people wore
The initial excitement wore off. People were positioned for it,