It speeds up the time that the Fed will probably think about raising rates and that's negative for fixed-income.
More Quotes from Gary Thayer:
We probably won't see good (employment) numbers in the next couple of months because of the loss of jobs in the Gulf Coast region,Gary Thayer
These numbers look as if there's no urgent need to raise interest rates much further.
Gary Thayer
I wouldn't disagree with some of the things he said, but I don't know why he said those particular things at this time.
Gary Thayer
Still, the decision caught a few economists off guard. I agree with the Fed's view that the hurricane doesn't pose a persistent threat to the economy, ... But I think that if the Fed had held rates steady, the recovery could've been a little smoother, maybe a little faster.
Gary Thayer
The weakness was primarily in the residential area. That's consistent with the other data we've seen recently that suggest that the housing market is cooling off.
Gary Thayer
The bond market took the GDP number positively, ... It had expected stronger growth and some people may now be reminded that the Fed will not be quick to raise rates.
Gary Thayer
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