Alan Ruskin
Alan Ruskin
attention clearly data dollar expect fed giving market quickly shift
While the data is clearly dollar positive, I would expect that the market will quickly shift back to the attention it is giving to Fed policy.
caught market minutes somewhat
These minutes have caught the market somewhat off-guard,
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.
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.
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.'
erratic late market number tough trade
It's been such an erratic number of late that it's pretty tough for the market to trade on it,
comforting dollar feels market meaningful months risk takes three
The market feels that there's probably three months to play with before the risk of any meaningful tightening takes place. That's been comforting for those who are dollar bullish.
focus market price worth
The market will focus the most on this deflator number, and it is worth 1/32nd or 2/32nds (in price fall) on the back end of the curve.
bond chairman fed happy market
The Fed Chairman would be very happy if the bond market did some of the tightening for him,
again appears bond bullish consistent data generating market reaction soft strong
Once again soft data appears to be generating more reaction in the bond market than strong data -- consistent with the bullish undertone.
again december evidence extent judging labor market might past
The labor market has not accelerated to the extent one might expect, judging from past cycles, and we probably won't see evidence of it again in the December numbers.
bought found good inflation lucky numbers officials position rate time
I think (Fed officials have) found that they're in a lucky position where the inflation numbers are good enough that it's bought them some time (to postpone rate hikes),
below headline jobs looking maybe numbers obviously plenty scratch sector slightly stronger weakness
Some of the headline (jobs) numbers maybe look slightly stronger than expected, but when you scratch below the surface, you find there is still plenty of weakness out there, ... Obviously the manufacturing sector is looking as weak as ever.
feels fresh require
It feels to me it will require something fresh to really get it going again.