Michael Darda
Michael Darda
fourth happened quarter
It doesn't look like what happened with GDP in the fourth quarter is a harbinger of the future.
pause percent saying
Essentially, he's saying that they may pause around 5 percent after the May meeting.
based demand future happen near supplies
A significant part of demand right now is based on speculation that something is going to happen in the future or near future to make supplies much more scarce.
change context economic monetary overall policy risks talking within
There's no real change in the rhetoric. He's talking about risks to economic growth, but within the overall context that monetary policy can respond.
basically fed market raising realized seeing stock
I think he's basically greasing the skids for the Fed to keep raising rates, and that may not be something the stock market has realized yet, ... and that's why you're not seeing much reaction.
growth percent
You just can't have 30 percent growth every quarter.
appreciation dramatic market negative number price sign slowing
Today's number is a sign of slowing ahead. But that's not a negative thing. With the dramatic price appreciation we've seen, we don't want to see a runaway market out of control.
anywhere cause close depended market miss negative recent
If we get anywhere close to the forecast, its going to be negative for bonds, cause that market has depended on a miss on payrolls in recent months.
change data economic expected fed funds interest minutes moves outlook raise rate released unless
The minutes didn't change the outlook for the interest rate moves priced into the market. The Fed is expected to raise the funds rate at least two more times unless economic data is released that will change this assumption.
bond low market relative ridiculous stock whereas
The bond market is at a ridiculous valuation, whereas the stock valuation is low relative to bonds.
crude escaping gravity looks oil
To me, this looks like continuation of crude oil escaping the gravity of reality.
bond economy market ok reaction reassure seemed stock
They seemed to reassure the market that the economy was OK after the hurricanes, but overall, I don't think there's anything new, and that's why the stock and bond reaction has been muted.
continue convinced energy higher prices pricing raising saying strong threat worry
They are saying that they are not convinced that the threat of higher energy prices is over, that they continue to worry about pricing pressure, and with a strong economy, they can keep raising rates.
surprising
There was nothing too surprising in what he said.