Claims took people by surprise. It makes it clear the Fed has not gone too far.
More Quotes from Dominic Konstam:
The path of least resistance is flattening.Dominic Konstam
It's hard to look at this report and be even more convinced that if housing slows down, there's nothing to replace it in terms of labor income. It leans slightly more to the bearish than the bullish side for the market.
Dominic Konstam
The obvious point to take from this meeting is that the Fed is giving the bond market no indication they are close to being done.
Dominic Konstam
I'd be surprised if he gives us anything new in content.
Dominic Konstam
The inflation story embedded in this report is really not that bad. People are coming back into the labor force and wage pressures aren't showing, so this is generally good for bonds.
Dominic Konstam
That made a lot of people think that the Fed couldn't wait until March 20.
Dominic Konstam
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