Concern about deflation makes bonds look good relative to stocks.
More Quotes from Michael Cloherty:
Tomorrow the employment report is going to take over. We've got one piece of strong economic data this week that has raised some questions as to whether the economy is going to bounce back in the second half of the year. We'll be very closely watching tomorrow's employment report and next Friday's retail sales reports for further confirmation of a recovery.Michael Cloherty
There is a lot of following stocks around today. That was the big thing after the huge decline in the European equity markets - there was a lot of nervousness about what would happen in the U.S.
Michael Cloherty
The underlying news is suggesting some continued strength in the economy. There's nothing to suggest any change from the Fed. Rates are going higher.
Michael Cloherty
Greenspan is speaking tonight and it's a matter of some concern that he could surprise people.
Michael Cloherty
The statement was that it markedly diminished the risks of inflation picking up. So, you know, a very positive statement from the Fed. But I think that, still, the risks are that the economic data could come in a little bit stronger than expected and force the Fed's hand one more time.
Michael Cloherty
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