Anthony Chan
Anthony Chan
couple itself quarters stimulus work
All this stimulus is going to work, ... just not overnight. It's probably going to take a couple of quarters to work itself out.
bottom exuberant line overly shave street wall
The bottom line is that Wall Street will have to shave off some of its overly exuberant fourth-quarter real GDP estimates,
competition entering labor less leverage means people
More people are entering the labor force, so there is more competition. More competition means there's less leverage for employees.
continuity fed few final greenspan hard months throw win worked
Continuity is all but assured. The Fed has worked hard to win credibility and Greenspan is not going to throw it away in the final few months of his term.
blow consumer cushion economy energy feared great helps higher hit lower means prices
Lower energy prices will cushion the blow to the economy from the higher prices so far. Psychologically, it helps the consumer and that means the hit to the economy will not be as great as feared earlier.
jobs last moment months quarter saw similar third three
For the moment the third quarter is probably going to be similar to what we saw the last three months -- probably between 250,000 to 300,000 new jobs every month,
beginning economy gradually increase instead justify market recovering rising sharp since stock
Since the beginning of this year, the economy has been recovering gradually....In that environment, a gradually rising stock market would be justified. Instead we got a sharp decline. Can we justify this rally? Absolutely....But we can't justify a thousand-point increase every week.
housing obviously spells starting trouble turning
If housing is starting to weaken and manufacturing is not turning around, obviously it spells trouble for the economy.
costs eventually labor makers policy
Policy makers make policy on long-term trends, ... This is temporary. Labor costs will eventually come down.
agreement although bit certainly early mode outcome recession remains rest sector universal
If the manufacturing sector remains mired in a recession mode for too long, it may be signaling the same for the rest of the economy. Although it may be a bit too early to make that assessment, there should be universal agreement that the ISM outcome certainly does not bode well for the rest of the economy.
becomes becoming equity fed goes harshly language looking markets normal rate secondary talks
I think that if the Fed goes back to normal language about 'measured pace' (of rate hikes), it becomes a secondary story, ... It is only becoming a big story because of the uncertainty about what they were going to do. The equity markets will be looking for language here again. If it talks too harshly about inflationary pressures, it could be unfriendly for stocks.
appetite auction foreign itself positive remain securities
The auction also showed that foreign appetite for our securities remain voracious, which in itself is another positive sign.
economic expect levels point
They (wages) are still not at levels we would expect at this point in an economic expansion.
expected hurricane level optimism
a level of optimism that was not dented as much as one would have expected by Hurricane Katrina.