If we hadn't had Asia, there's no doubt that the Fed's economic model, with 350,000 job growth per month in each of the last four months, would have forced interest rates up.
More Quotes from John Ryding:
From the Fed's perspective, slack in the production sector continues to diminish, which should maintain Fed concerns about upside risk to inflation.John Ryding
Although the retail sales report was not as weak as expected, it does not change the picture of slowing consumer spending growth, especially since the auto sales data do not reflect Detroit's reality.
John Ryding
It's not the first time in the history of OPEC that we've had problems with cutbacks, and when the price goes up, then the cheating starts.
John Ryding
Although we expect consumer spending to slow sharply in the fourth quarter, to below 2 percent, as a result of lower auto sales, we expect that GDP will still edge back above 4 percent on an inventory rebound, higher business spending, and hurricane recovery spending.
John Ryding
The bond market had a pretty good move upwards yesterday, but I don't think we're going to get back to that kind of mania to buy Treasuries that we had in the month of September.
John Ryding
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