The market has done part of the job, but this tightening is not yet substantial -- financial conditions are still near their loosest points in many, many years,
More Quotes from Anthony Crescenzi:
This is a sign of optimism the expansion will continue and it's consistent with move up in stock prices.Anthony Crescenzi
The economy is less interest-rate sensitive than it was a year ago because of income growth, and we have corporate profits higher than capital spending -- a condition only seen rarely in the past 40 years -- meaning companies don't need to borrow as much,
Anthony Crescenzi
Right now we have to take a step back and say how much further can we go with this news. Where fed funds are now, at 6.5 percent, makes it somewhat difficult for the (bond) market to trade higher or lower in yield.
Anthony Crescenzi
I'm struck, ... Originally I thought that in a recession we could get below 5 percent, but we're not even close to one (a recession.)
Anthony Crescenzi
I think we have conditions in place now that could put off the tightening. Unfortunately, there is some inflation embedding itself.
Anthony Crescenzi
There were rumors that the Fed might cut rates today, but of course they did nothing.
Anthony Crescenzi
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