There's no doubt there's political pressure on the Fed to do nothing on September 20th. The Fed will allow economics to overrule the politics of the situation.
More Quotes from 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
I think we've moved beyond the 'flight to quality' stage. People are really looking at the inflation fundamentals.
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
The December Institute for Supply Management report points to slower, though still solid, expansion in manufacturing conditions in the month. It also suggests that price pressures, while still elevated, are rising more slowly.
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
And also there's a large rush of supply of corporate bonds, for example, coming to market. So we're getting a lot of supply this time of year, where normally it would be more quiet time for issuers.
John Ryding
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