We have had an extraordinary period of job growth the last four months. The bond market is always worried about higher growth, and the equity market is concerned that the Fed might be more likely to overshoot, and take rates too high.
More Quotes from Drew Matus:
Of course it's great for inflation. But, really, the market doesn't care about the numbers because they're not the payrolls report.Drew Matus
We expect a balanced speech that reaffirms that a March hike is likely, but that subsequent moves are data-dependent.
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
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.
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Don Kohn is the closest thing to a Greenspan clone that modern science has produced.
Drew Matus
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