William Sullivan
William Sullivan
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Today the collective wisdom is that the economy will improve in the not-too-distant future, and that's hostile for bonds because it suggests that the Fed is done easing monetary policy and that financial markets may confront some interest-rate pressures as the economy improves and borrowing re-accelerates.
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There is a common theme that economic fortunes look brighter in Japan and continental Europe than they do in the U.S., ... Even though higher rates should help the currency, they haven't because most people are seeing that as the Fed's move to slow the economy and reduce growth.
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We knew the economy slowed down, and there was evidence from some of the monthly price statistics that inflationary pressures diminished during the period.
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It is my belief that the Fed is targeting the equity markets with this more aggressive provision of liquidity, ... The Fed wants the stock market to do some of the heavy lifting to get this economy moving.
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Clearly, we're experiencing an inflation-free setting even though the economy is experiencing rapid growth.
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The retrenchment in equities will undoubtedly affect the economy later in the year, ... This is not just a correction, it's an economic event that could affect consumer confidence and consumer spending down the road, leading to a more pronounced slowdown than the Fed is currently factoring in.
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The fear here is the economy is overheating. And this points to a Federal Reserve with a much tighter monetary policy.
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The index suggested that the healing process in the economy is coming on much more quickly than envisioned.
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What that suggests is that the recovery in corporate profits may not be as strong as expected.
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It was a little disappointing, but it is so expensive that there may be a lot of people holding onto their money for the 10-year and 30-year starting tomorrow.
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The stock market sees these data as representing an end to the recessionary environment and signaling some improvement in the not-too-distant future. For now, the dominant view is that this is the close on the 2001 recession, so you sell bonds to buy stocks.
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I used the end of my baton to try and wake the male because I could hear breathing, ... As I pushed on his right shoulder, I could distinguish that the breathing was coming from a second person on the other side of the bed on the floor.
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There was a big reservoir of foreign interest -- 65.4 percent went to indirect bidders. That is overwhelming and underscores the pressure worldwide for pension managers to better match their unfunded liabilities.
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Corporate bonds are filling the void, to some degree. But this does not pave the way to a rally in bonds.