Tony Crescenzi
Tony Crescenzi
alan appears chairman hikes interest pace rate slow
With the Fed's statement, Chairman Alan Greenspan's famed gradualism is surfacing again, as the chairman appears to be signaling a slow pace of interest rate hikes in the future,
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The 'new era' economy, wherein strong growth and low inflation have coincided remarkably for several years, appears to be under duress in ways not seen in some time,
aftermath ammunition appears bad fed inflation justify strategy string
In the aftermath of a string of bad inflation news, the Fed now appears to have ample ammunition to justify their strategy shift.
market modest resilience selling
The selling is modest and the market still has resilience to it.
anxieties bond coming likely market markets signals suggest
The signals coming from the bond market are significant and suggest that the anxieties in the markets are likely to dissipate,
bush congress dead famous fiscal likelihood package president reducing rhetoric stimulus taxes
The rhetoric over the fiscal stimulus package heated up this weekend, reducing the likelihood of passage, ... In what may become a famous remark, President Bush said that Congress would 'raise taxes over my dead body.'
against bears bulls clint data eastwood known longer meaning payroll pit script since written
Even Clint Eastwood could not have written a better script that would pit the bulls and the bears against each other over the meaning of today's payroll report, ... The winner, however, may not be known for a while longer since the data is sufficiently murky.
assets dollar evidence reserves shifting
There's some evidence that they may be shifting away from dollar reserves to other assets to try to diversify their reserves.
bearing bonds capital competition factors inflation influence interest large levels monetary rates structure supply yield
The supply of bonds won't have a large bearing on the yield levels or the structure of the yield curve, ... The influence on interest rates will come more fundamental factors such as inflation expectations, competition for capital and monetary policy.
bond compared corporate few investors months optimistic relatively seem
Corporate bond investors seem relatively optimistic compared to a few months ago.
change delivery notable
Today's speech...is notable more for Greenspan's change in delivery than change in material,
changes follow possible tends treasury
The Treasury tends to follow through with changes in new issuance when it forewarns of possible changes,
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The Treasury market has come to grips with the notion that stocks have recovered,
early great holland mania markets repeatedly
Like the Great Tulip Mania in Holland in the 1600's and the dot.com mania of early 2000, markets have repeatedly disconnected from reality,