With Greenspan next week, if there is any sniff that maybe they are coming close to the end of their tightening, then maybe these flattening trades are not going to pay off as much as they have already, and that is why people are being a little more cautious about the flattening trades.
More Quotes from Kevin Logan:
What it suggests is that the pace of growth, although pretty robust, is likely to slow a bit going forward.Kevin Logan
They've changed their risk assessment that's a subtle shift, but it is a shift. If you believe that inflation pressures will mount, they're closer to, rather than further from, a policy move.
Kevin Logan
They haven't changed (their bias). The weakness in corporate profits is a problem, and investment continues to decline.
Kevin Logan
The only reason we wouldn't be able to make it (to the benefit concert) is if Pete got listed and we needed to leave. As soon as they list him then we need to get him down immediately.
Kevin Logan
Prior to the war, the stock market was at its lowest because people were pricing in a more intense military conflict, which hasn't happened, ... The market has decided that these events weren't nearly as damaging as they might have been to the global economy.
Kevin Logan
Seven percent is not an unreasonable estimate for GDP growth. Retail sales were strong, especially with the revisions. Consumer spending possibly grew 12 percent at an annual rate. That's really charging right along.
Kevin Logan
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