Bill Sullivan
Bill Sullivan
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Let's think back to what happened in Internet stocks, ... That was a bubble where there was a complete evisceration of wealth. That will never happen in the Treasury market, because it is backed by the full faith and credit of the United States.
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Obviously, we're going to be dealing with thin markets. The influence of the holiday should dampen the war rhetoric, but if there are any surprises we could get exaggerated moves in prices for sure.
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There's no doubt that there's going to be a snapback. The real issue is whether the snapback is representative of substantial and permanent change.
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The stock market was euphoric over the data reported -- taking it as a sign the Fed will not raise rates over the balance of the calendar year. Inflation remains tame and the economy continues to grow.
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The speech doesn't appear to have garnered any attention at all. His comments really weren't the focus.
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Questions would arise over why the Fed needed to drop interest rates at this time. It would have raised fears that there was a train wreck coming in the financial system.
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Conceivably, as the number of households that refinanced dropped off, the ability for consumers to enhance cash flows and service other debt loads eroded as well, thus partially accounting for the upturn in late payments.
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Eliminating the dividend tax is an extraordinarily controversial measure -- even Republican support may not be as deep as assumed.
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These actions enable Agilent to focus exclusively on realizing its full potential as the world's premier measurement company. It has become increasingly clear that investors also prefer this exclusive focus on the $40 billion measurement market.
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A lot of businesses are going to slow. There's going to be lost sales, lost revenues, lost activity.
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You don't get huge swings like this if you don't have huge amounts of capital being put to work,
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There's a huge conviction in the Wall Street community that this will be a successful, surgical, short-lived military incursion. That it will not cause any collateral damage to oil fields, that it will not destabilize Middle Eastern governments and that it will not lead to acts of terrorism in the United States.
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Activity is very light ahead of Greenspan's testimony tomorrow. We really shouldn't see much movement . . . there is no prominent economic data out today.
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Activity is very light ahead of Greenspan's testimony tomorrow, ... We really shouldn't see much movement . . . there is no prominent economic data out today.