The big picture is still that 10-year yields are up 100 basis points (1 percentage point) in basically a month, so to see a 5- or 10-basis-point pullback is not a big deal. It's just a wiggle on the charts. You will get wiggles here and there, and whether it's driven by surprises in economic data, or in geopolitics, oil prices or stocks is anyone's guess.
More Quotes from Stephen Stanley:
Heading into 2006, the fundamentals for business spending in equipment and software look solid. Firms will need to invest more to meet demand.Stephen Stanley
The labor market is very healthy, with both jobs and wages advancing at a nice clip. This means that households will have plenty of cash to support consumption in 2006.
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However, we are reaching a point on the calendar when the data should be settling down and there is no indication that the number of new filers is poised to move back to the 310,000 to 340,000 range that prevailed in 2005 prior to the hurricanes.
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It is a little early to eulogize the housing sector. Look for any deterioration in starts, sales, etc., to be more gradual than the weather-depressed December starts tally would suggest.
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If what we see in these surveys is truly the case, then there will be a clash in the boardroom as these two decide how best to move the company forward.
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The indicators of prices ... are beginning to point more clearly toward inflation pressures.
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Based on Topics: Economics QuotesBased on Keywords: geopolitics, wiggles
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