The bottom line is, agencies will maintain their highest credit rating. Agencies are looking like pretty good value.
More Quotes from Josh Stiles:
The new weakness, which is probably related to the hurricane and oil, definitely set in, ... But this number was a classic dilemma for the market, because the prices paid really rocketed higher.Josh Stiles
He's been wrong about what's happening with inflation for two years. He's more focused on structural disinflation forces than he is on the cyclical inflationary forces from excessive accommodation,
Josh Stiles
We don't look at this number and say it's the end of manufacturing strength. Still, it hasn't hurt the bond market.
Josh Stiles
The market took the report in context -- which is that it is often distorted by aircraft orders. It didn't really ignite the bond bulls that the headline number was down so much.
Josh Stiles
It doesn't look like from what we are seeing this morning that the economy is recessionary, and now it's probably going to cast some doubt on how aggressive the Fed is going to want to be from here,
Josh Stiles
at the bigger monetary picture.
Josh Stiles
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