We're talking about an entire huge city and several smaller surrounding cities that will be empty for some time. It looks like we are going to have sustained prices for at least some weeks and maybe even months, and if that happens, I think that will have a pretty severe impact on the economy.
More Quotes from Christopher Low:
One reason the 10-year note yield has risen so much this week is that investors are worried that the end of the carry trade -- a trade that involves borrowing at very low rates in Japan and investing at higher rates abroad -- will end any day now.Christopher Low
There is no sign of an immediate pass through of energy to core prices, but consumers spent with abandon considering their lack of confidence in the continued health of the economy. That is likely to bolster the Fed's fear of future inflation and reinvigorate their will to raise rates.
Christopher Low
They tighten again in May and then they wait and watch.
Christopher Low
Economists were expecting that the Fed would either remove the warning about asymmetric risks toward inflation or judgment that further tightening might be necessary. Of course, the Fed did neither.
Christopher Low
Today, the first auction of 30-year Treasury bonds in (almost) five years is expected to go well.
Christopher Low
The decline helps affirm cooling in the housing sector and is consistent with other broad-based data we have seen.
Christopher Low
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