Tony Crescenzi
Tony Crescenzi
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.
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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With increasing vigor, the lagged effects of the Fed's interest rate cuts should begin to appear before the end of the summer,
almost further hikes rate rest
We've come a long way, ... There's almost no expectations of further rate hikes for the rest of the year.
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The new rumor now since the meeting, since they did not act, is that the Fed could conduct an inter-meeting rate change, ... This is something they haven't done since April 1994, but people feel if the payroll report is strong and it's accompanied by a high wage gain, the Fed might move as early as tomorrow.
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The Bank of Japan's feeble 10 basis-point rate cut to 0.15 percent shows the head-in-sand attitude that has led to weak money supply growth and a slow economy.
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The productivity advance will also serve as a powerful backstop for the U.S. dollar, as it creates an environment that is good for the rates of return on U.S. assets, especially compared to other countries where both productivity growth and economic growth are lower than in the U.S.,
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I would venture to forecast that if the upcoming payroll report were to post a decline in the vicinity of 200,000 or so, the Fed might lower interest rates as early as this Friday.
above comments fed inflation level neutral percentage points rate views
Parry's comments hint that the Fed still views the neutral level of the federal-funds rate to be approximately two percentage points above the inflation rate,
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Greenspan's speech puts an exclamation point on the market's notion that the Fed will eventually have to cut rates in response to the rapid deceleration in the economy,
door greenspan opened rate
Greenspan opened the door to 50-basis-point rate hikes,
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In light of today's $500 billion wealth loss in the stock market, it is rational to begin thinking about an endgame to the Fed's rate hike phase, ... At the very least, recent developments tell us that the Fed's actions have finally reached a critical breaking point that limits the scope for significant rate hikes going forward.
market modest resilience selling
The selling is modest and the market still has resilience to it.
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The signals coming from the bond market are significant and suggest that the anxieties in the markets are likely to dissipate,