Our view is very optimistic. We believe that the tight yield curve is the result of the Fed's continued tightening. We are expecting economic growth of 4 much of this year. That is far from a recession.
More Quotes from Kim Rupert:
I don't put a lot of faith in the month-to-month swings in the trade data, but we had expected a modest widening in the gap. This narrowing will feed into a little bit more positive reading to second-quarter GDP.Kim Rupert
The fact that he didn't suggest any time frame for a pause is going to leave rates biased slightly higher. People still think a yield near 4.7 on the long end is a pretty good deal.
Kim Rupert
People don't see a lot of value in a 10-year note that currently is yielding above the Fed funds rate but will not be in a week.
Kim Rupert
It's a done deal. We're looking for a fairly long, drawn out Senate trial.
Kim Rupert
Productivity still remains really solid, and one of the hallmarks of this whole expansion. If we can hang on to that I think the perception of where we're going in the market could change dramatically.
Kim Rupert
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