The market will focus the most on this deflator number, and it is worth 132nd or 232nds (in price fall) on the back end of the curve.
More Quotes from Alan Ruskin:
I don't think people want to stand in the way of this even if they believe there's underlying value. With equities giving it a kick, you're getting more selling pressure as well.Alan Ruskin
As outgoing Fed chairman, he's clearly concerned about the asset cycle and the prospect the low concern on credit risk is going to be associated with a decline in asset prices down the track,
Alan Ruskin
While the data is clearly dollar positive, I would expect that the market will quickly shift back to the attention it is giving to Fed policy.
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The overall trend in orders is going to be south over time, ... I wouldn't use this as indicative of some impending recovery in the manufacturing sector.
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we still don't have any clear signals that inflation is on the way up.
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For the Fed, I don't think it changes much. It's not weak enough that it would change their measured tightening path.
Alan Ruskin
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