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.
More Quotes from Josh Stiles:
I think the fundamentals are more threatening to the bond market such as commodity strength, the strength of domestic demand, the strength of demand around the world, and tight labor markets. So, there are plenty of things for the bond market to get worried about.Josh Stiles
at the bigger monetary picture.
Josh Stiles
We saw moderation in the indices on prices paid, employment, and six-month business conditions outlook. That offset the impact of the headline number.
Josh Stiles
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.
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
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
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