Chris Rupkey
Chris Rupkey
counsel cut dragon early fight inflation markets november rates rejected tried urged
Unfortunately, I think they tried to fight the inflation dragon a little too long, and rejected the counsel of the markets which urged them to cut rates as early as November that year.
added boost changed cut december expecting federal funds limit low rate saying stock thinking today
We're back to expecting a rate cut on December 11. Meyer changed people's thinking by essentially saying there's no limit as to how low (the federal funds rate) could go and today we're getting an added boost from the (weak) stock trade.
auction bid bigger charts demand indirect note november percent strong
There was very strong demand -- off the charts -- from the indirect bid -- about 65 percent, bigger than the 55.6 percent at the 10-year note auction in November 2005.
benchmark came large mac market pricing selling treasury
A lot of selling came in around 9 o'clock because Freddie Mac priced a large 10-year note, their benchmark security. Right at the pricing of that note, the Treasury market went down and it wasn't able to recover.
easily economy economy-and-economics likely momentum surprise
There is considerable momentum here that will not be easily slowed. This economy is strong, and it is likely to surprise on the upside.