Alan Ruskin
Alan Ruskin
bush drawing eventually market might move quite talk towards wall
There's talk Bush might actually eventually move towards drawing in someone from Wall Street, which the market might quite like really.
feels fresh require
It feels to me it will require something fresh to really get it going again.
asset associated clearly concerned credit cycle decline fed low outgoing prices prospect risk
As outgoing Fed chairman, he's clearly concerned about the asset cycle and the prospect the low concern on credit risk is going to be associated with a decline in asset prices down the track,
confidence consumer energy housing hurting time
Housing may be topping at the same time as consumer confidence is hurting from energy prices.
caught market minutes somewhat
These minutes have caught the market somewhat off-guard,
broader certainly picture slowing
The broader picture is there's some slowing in housing. It's certainly dollar-negative news.
asset caught changed fairly far fed felt market markets obvious reaction sharp shock testimony value
There was always going to be some shock value when the Fed changed 'the considerable period' statement, but we had always felt that the change would come when it was fairly obvious that it should, and when the Fed had softened the blow, by alerting the market to such a change, ... As it was, there was no such warning, and the sharp market reaction is testimony to just how far it caught asset markets 'off-side.'
bond broader confused cross influences stick trend view
These cross influences are confused enough that one has to stick with the broader trend that we still view as bond negative.
certainly equation far future good goods inflation pipeline side sign
It's certainly a good sign as far as future pipeline inflation is concerned, ... The goods side of the inflation equation is very encouraging.
change generate language likely pace slower speeding
We read any change in language as more likely to generate a slower pace of tightening than a speeding up in tightening to 50-basis-point increments.
bond cheerful market peculiar plenty seem situation
We have a peculiar situation in which the shoppers seem to feel there is plenty to be cheerful about but the bond market is much more cautious.
asset change surprise
Would it surprise me that they would change their whole asset allocation dramatically? That would be more surprising.
black carries inflation less likely policy problem risk targeting
The problem with inflation targeting is that it carries with it a risk of less flexibility at times, and that could be problematical. But it also makes policy less of a black box, so policy is likely to be more transparent.
impending indicative orders overall recovery south trend
The overall trend in orders is going to be south over time, ... I wouldn't use this as indicative of some impending recovery in the manufacturing sector.