Mike Ryan
Mike Ryan
door fed further kept open today
I think what the Fed really did today is they kept the door open for further cuts.
fed funds mean monetary percent policy position rate simply
Simply because the Fed is maintaining an accommodative monetary policy position doesn't mean they keep the fed funds rate at one percent indefinitely,
fed inflation maintain raising rates refrain risk
Expectations are that the Fed is going to do nothing and refrain from raising rates and maintain an inflation risk bias,
bond fed heavy market
If the Fed is not going to do the heavy lifting, the bond market is going to do it for them.
action clearly equity fed market taking vulnerable
The equity market is clearly more vulnerable to the Fed not taking any action.
above capital certainly concern consensus dependent dollar foreign friday gap reading trade weakness weigh
We're so dependent on foreign capital that, if you could see any weakness in the dollar it could come on Friday with the trade numbers. If we see a sharply above consensus reading for trade, there could be some concern about the sustainability of that trade gap and that could certainly weigh on the dollar.
bond fully meeting offer outcome statement
The outcome of the meeting is fully priced into bond prices. Only the (Fed) statement may offer intrigue.
brought control looking months poultry six total
We are probably looking at six months to two years before some of these outbreaks can be brought under total control in the poultry population.
associated cases close clusters dealing declaring exposure human nowhere pick potential small strain
What we're dealing with is small clusters of cases associated with exposure to poultry. We have a strain of influenza with the potential to pick up human genes, and we're nowhere close to declaring a pandemic.
awful bond broke corporate finally meeting next people period range setting sights supply target trading
We've been in this trading range between 5.375 and 5.75 (30-year bond yields) for a very long period of time, ... Then we finally broke out of that and the next target people are setting their sights for is 6 percent. We have a refunding this week, we have an awful lot of corporate supply and we also have next week's FOMC meeting approaching.
dangerous human lethal virus
It is a very, very dangerous and lethal virus in human beings.
nobody second
Party's on the first floor, there's nobody on the second floor.
credit demand issues positive starting
Spreads have come back a bit. We're starting to see demand for credit issues as well, and I think it's a positive development.
cases consistent detect disease good human premature reassuring system turkey
It is good and reassuring that the system in Turkey is able to detect cases consistent with the disease, but it is premature to say these are human cases of avian flu.