Lara Rhame
Lara Rhame
bin dollar economy falling fits led risk tape view
The bin Laden tape has led to some dollar selling. The tape fits with the view of those who think the U.S. economy is at risk of falling into a sinkhole.
dollar euro everybody remain result spinning strength strong trends
Everybody is spinning it in their own direction, ... The end result is the same trends remain in place: dollar weakness, euro strength and the yen strong, but not so strong as the euro.
deficit dollar exists gloom market punishing size
I think a lot of gloom still exists about the size of the deficit and the market is punishing the dollar for that.
critical data dollar holiday income largely personal releases
The dollar is largely unchanged. In these holiday markets, I think releases like tomorrow's personal income data are going to be more critical than the backward-looking GDP report.
claims combined data dollar focus modest morning trade
It is a modest dollar negative; the trade data combined with the claims data, but the focus this morning is very much on digesting the BOJ and on payrolls tomorrow.
detail dollar employment looks orders positively react
The detail looks pretty solid, with new orders up, employment up. The dollar should react positively to this.
dollar downward growth markets modestly negative retail revision sales weaker
On balance, it is a modestly dollar negative set of data. Retail sales growth was a little weaker than markets had expected, with a downward revision to the ex-auto sector.
job
I think they'll need to see a lot of job growth, not just one month.
causing excited markets near
In the near term, markets are getting very excited about the idea of the end of quantitative easing, and that's causing the yen to come under some upward pressure.
connection durable economic economy goods heavy industry layoffs machinery overall segments
If you look at the segments of the economy where we do have deflation, particularly in the goods industry -- and particularly in durable goods, such as automobiles and heavy machinery -- that's where most of the layoffs have been concentrated, ... That's where you see the connection of disinflation to overall economic growth.
economy further recovery state stimulus underlying weak
The underlying state of the economy is on weak footing, and we're going to need further stimulus to keep the recovery on track.
dramatic euro far line move recent tendency
The euro can go pretty far -- when currencies correct, they have a tendency to do that. But I don't see the recent move as dramatic or unexpected, and I don't think it's out of line with fundamentals.
guts statement
It's the same meat, but with a different gravy, ... The real guts of the Fed's statement is very much unchanged.
grit wheels
There is substantial post-bubble grit in the wheels right now.