David Horner
David Horner
David Murray Horner AM is an Australian military historian and academic...
behind employment friday report worst
As long as employment report on Friday is not too strong, I think the worst is behind us.
bid calm caused clinton finally markets overnight release stock tremendous
Finally we got a calm day to recoup. Yesterday, with stock markets down all around the world overnight and the release of the Clinton tapes, that caused a tremendous bid for the bond.
aware
I was not aware of any 9/11 (connection).
bottom economy global growth inflation line nice rally reason shows sustained week
The bottom line is that we have had a nice rally this week and I see every reason for that to be sustained as global growth and inflation weakens and the U.S. economy shows broad-based weakness.
beginning economy people
I think people are beginning to see the economy is slowing.
barely export good higher industries japan less recent recovering time
It's not good for Japan because the higher the yen goes, the less competitive their export industries are at a time when they're barely recovering from the recent recession.
downside expected market next people report week
I think a lot of people expected the market to have follow-through on the downside and when it didn't there was probably covering. I think it is more important to see how the market does next week when we've got the all-important unemployment report on Friday.
awful concerned easing economy greater indicate risk smaller suspect
They're still very much concerned that the risk in the economy of a downturn is much greater than it is of inflation. I suspect they will restate that risk. However, they will probably indicate that the increments of easing from here on out are going to be smaller because there's an awful lot of easing in the pipeline.
bit both japanese levels result rises stable undermine
At this point, if the yen rises further, it's going to undermine the Japanese economy, and, as a result of that, both Japan and the U.S., for different reason, would like to see the yen stable at these levels or a little bit higher.
crisis fed people realized
At the end of the day people realized this crisis isn't over and that the Fed has to ease.
couple fed front next potential rebound upside
There is not a lot of upside potential over the next couple of weeks. We already got the rebound in front of the Fed announcement.