Michael Woolfolk
Michael Woolfolk
buy economic investors less low positive rates risks willing
There's a very positive economic story of investors being more willing to take risks and buy equities and less willing to take low rates on bonds.
ability deficit given indication market rally strong strongly trade
The US dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.
ability deficit given indication market rally strongly trade
The U.S. dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.
account action arguably cannot corrected current deficit grown point
The current account deficit has grown to a point where it arguably cannot be corrected by US action alone.
effect high left watching
This has had a psychological effect on the markets. For those of us left in the office, we're just watching to see just how high the 10-year will go today.
continued fully globally hike hikes interest march positive rate talk
The hike in March is fully priced in. The hike in May is over 80% priced in. There is already talk of continued hikes after that. Interest rate differentials globally are increasingly favoring the U.S. and it's positive for the dollar.
chance increased interest market mean meeting next percent rates took
The market took this to mean that there is a 100 percent chance that interest rates will be increased at the next meeting and a 75 percent chance at the meeting after that.
against banks central continue dollar intervene overseas remain supported time weak
The dollar will remain supported for the time being so long as central banks overseas continue to intervene to keep their currencies weak against the U.S. dollar.
continued dollar importance interest labor market rally rate report respect
The dollar rally after the non-farm payrolls report underscores the continued importance of labor market tightness with respect to interest rate expectations.
door fed future hikes left open positive rate
The door will be left open for future rate hikes but the Fed will be increasingly data-dependent. That's positive for the U.S. dollar.
buy canadian economic happy investors market number shows strength willing
The market is happy with the number as it shows strength in Canada's economic growth. Investors are willing to buy the Canadian dollar.
continue dips fed indicate inflation likely raise wage
If unemployment dips any lower, that may indicate some wage inflation and the Fed will likely continue to raise rates.
both deep iran liquid markets money possible states sums united
I don't think it is possible for Iran to take money out of both the United States and Europe. There are just not sufficiently deep or liquid markets to place these sums of money.
against events
We would have to say there is a confluence of events conspiring against the dollar.