Fundamentally there is not a good basis for the yen to rally today. But the bottom line is the dollar is more stable than we would have thought Friday.
More Quotes from Anthony Crescenzi:
But the resolution of the issue may begin to alleviate fears about systemic risk; Today we should all be looking at our financial system and saying these risks are very low, very few, and that we have a financial system that is sound.Anthony Crescenzi
The Fed will probably cut the both the Fed-Funds rate and the discount rate by 25 basis points tomorrow, to 5.25 percent and 4.75 percent, respectively.
Anthony Crescenzi
They have a lot of good will built up it would take repeated actions like this for the Fed to lose credibility. But if they continue to talk pessimistically while the numbers call for a more optimistic outlook, there will begin to be a disconnect between where the Fed would like to see interest rates and where investors believe rates should be.
Anthony Crescenzi
One of the key reasons payrolls exceeded the consensus was due to a 31K gain in manufacturing jobs, the first gain in 11 months. With more of these high-paying jobs in the mix, average wages were pulled higher.
Anthony Crescenzi
Expectations are one of the biggest parts of the inflation process,
Anthony Crescenzi
For so long, an individual who owned a small business or had influence over pricing somehow, would say, 'Prices aren't rising, so we can't raise prices, either.' Now they can see, with this data and through anecdotal evidence, that others are raising prices, and they may feel they can raise their prices now.
Anthony Crescenzi
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I'm afraid that reason will triumph and that the world will become a place where anyone who doesn't fit that will become unnecessary.David Byrne
If I can't play for big money, I play for a little money. And if I can't play for a little money, I stay in bed that day.
Bobby Riggs
If it's far away, it's news, but if it's close at home, it's sociology.
James Reston