The market's starting to look further ahead. There seems to be the sentiment that the economy will cool and the Fed (once it hikes interest rates later this month) will be done.
More Quotes from Josh Stiles:
I do think the rise in oil is significant enough already that that's going to buy us headline inflation higher in the next few months. We'll probably get up toward 3 percent.Josh Stiles
There's concern for how the stock market has done recently. I do think bond traders have their eye on the stock market.
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
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
This is always a difficult number for the market to deal with.
Josh Stiles
The idea that's been gaining currency in the market is the Fed pause theory, meaning that the Fed raises rates 25 basis points in September and then, because inflation pressures are contained, they pause for a while, skipping a move in November and maybe even December. The (producer price index) data this morning kind of fed into that theory.
Josh Stiles
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