The factory orders report shows that the first two months of the fourth quarter were not especially a great time for manufacturers.
More Quotes from Drew Matus:
On a real basis the trade deficit widened by over 1.7 billion for the month and places the trade balance on a trajectory that would likely reduce fourth-quarter GDP growth by more than 0.5 percent.Drew Matus
We've got some good news in this report but it's likely to be short-lived. We can expect the large trade deficits we've come to know to continue for the rest of the year.
Drew Matus
We continue to expect the Fed to raise rates three more times, raising the fed funds rate to 4.50 percent by the end of January.
Drew Matus
Looking ahead, we can't see what is going to cause a downturn of enough significance to take inflationary pressure out of the economy and cause the Fed to stop raising rates.
Drew Matus
It was exactly as the market expected, with them commenting on both the overall good news and the modest areas of weakness left in the economy. The Fed is on hold until August.
Drew Matus
I don't think this is going to draw much in the way of the Fed's attention. It was delayed for some time, and nobody from the Fed was complaining. They don't focus on it.
Drew Matus
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