James Knightley
James Knightley
bears bond existing further help hike home news offer push rate report sales stronger support
The (confidence) report will offer further support for the bond bears and help to push up rate hike expectations, as will news that existing home sales were stronger than expected.
argue housing leading market risk slow uk
The risk for the U.S. is that the housing market there may slow markedly, so you can actually argue that for once the UK is actually leading the U.S..
coming cut economic gradually interest led offer pencil pressures rate rather relative scope strength
Inflationary pressures are gradually easing, which should offer scope for interest rate cuts, but near-term relative economic strength has led us to pencil in the first cut coming in May rather than in the first quarter.
activity again boost fed half hopes increase raising rates remain talk
This ... will boost hopes that activity in the first half of 2006 will remain robust. It will also increase talk of the Fed raising rates again in May, to 5%.
committee data direction members pointing rest
We're probably going to get two members who go for a cut. The data isn't pointing in one direction enough for the rest of the committee to go with them just yet.
activity adds concern consumer data housing market months prospects
Today's data is very weak, which adds to our concern about the prospects for consumer activity and the housing market in the months ahead.