We don't look at this number and say it's the end of manufacturing strength. Still, it hasn't hurt the bond market.
More Quotes from Josh Stiles:
The evidence continues to mount that the economy is picking up a little bit but current levels -- 5.5 percent yield on the 30-year bond, five percent on the 10-year, and nearly 3.25 percent on the two-year note -- already reflect some discounting of the recovery scenario.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
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
The bottom line is, agencies will maintain their highest credit rating. Agencies are looking like pretty good value.
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
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
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