Today, the market witnessed the other side of that de-leveraging process, ... If this was the fuel driving up bonds recently, there's probably not a lot of that left.
More Quotes from 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
In an environment where there is a lot of uncertainty, the short end will get the benefit. The bond is catching up to the strength on the short end.
Anthony Crescenzi
It remains rational to expect job gains of over 200,000 per month in the upcoming months, ... The longer it takes to reach that point the more likely it is that forecasters will continue to skedaddle and lower their forecasts still further.
Anthony Crescenzi
Watch for Fed members' comments this week they'll say, 'It's just one month,' ... They tend to look at the cumulative evidence on certain issues before passing any meaningful judgment with policy significance. They need much more than this.
Anthony Crescenzi
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,
Anthony Crescenzi
There are hints now that the worst may be over in the labor story.
Anthony Crescenzi
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