Tony Crescenzi
Tony Crescenzi
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While the results of the September jobs report are impressive and seem to suggest that the underlying strength in labor demand has been unaffected by recent events, the strength could well reflect the lagged effects of past strength in the economy and the data therefore provide much less guidance about the future than might seem obvious.
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It's an excuse to consolidate recent losses, although it seems highly implausible that federal officials would want to signal their plans, through any channel.
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In the context of the recent markdown in prices, one could argue that the results in no way indicate that the recent bond market sell-off is over.
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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.
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The distinction (of the phone survey) is important, ... Because it suggests that the ABC/ Money poll is more current and may have captured more of the impact of the recent stock market decline than did the Conference Board's.
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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,
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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.'
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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.
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There's some evidence that they may be shifting away from dollar reserves to other assets to try to diversify their reserves.
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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.
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Corporate bond investors seem relatively optimistic compared to a few months ago.
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Today's speech...is notable more for Greenspan's change in delivery than change in material,
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The Treasury tends to follow through with changes in new issuance when it forewarns of possible changes,