People are breathing a sigh of relief and bought a few bonds and stocks. Everyone plays, everyone wins.
More Quotes from Drew Matus:
The market liked what it didn't see. The market got itself worked up about the Fed possibly being more aggressive about inflation and when that didn't appear in the minutes, investors then focused on a relatively benign view of inflation.Drew Matus
People are focusing on the impact of higher energy prices on the consumer instead of focusing on the impact of higher energy prices on inflation.
Drew Matus
I think these minutes ratify the middle view in the markets, not that the Fed's done and not that the Fed's going to 6 percent.
Drew Matus
I would have thought people would have changed their earnings expectations given that higher rates were expected to slow growth. The expectation all along was that because of productivity growth, companies would be able to keep boosting their profit margins, even if they weren't producing as much in goods and services, but that's obviously is not the case.
Drew Matus
Higher oil increasingly will creep into the indicators. Today, it biased the trade gap higher and pushed up import prices and also impeded the consumer sentiment number.
Drew Matus
The current focus going into the employment report this week has much more to do with habit than anything based in reality.
Drew Matus
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