The Fed will have to take rates beyond neutral to a somewhat restrictive pace. Today's data totally supports that view of the world and should...eliminate any doubts about the near-term course of monetary policy.
More Quotes from Stephen Stanley:
While housing demand will probably continue to moderate from the torrid pace seen in the last few years, housing starts should remain well-supported in the coming months, as builders' backlogs remain near record levels and rebuilding along the Gulf Coast will eventually boost activity.Stephen Stanley
The employment number will be the key for the stock market next week.
Stephen Stanley
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.
Stephen Stanley
I think the next really big number for the market is next Friday's retail sales figures. Up until Friday, investors are going to be focused on oil prices, the earnings, and to an extent, the election.
Stephen Stanley
The 'economy is weakening' crew will have a field day with this report. But until we see two weak numbers in a row, I am absolutely unconvinced. . . . Disappointed Definitely. Changing our big picture view No.
Stephen Stanley
This report is huge in the big picture, ... With the election over and this good news on jobs we could at last see an unleashing of animal spirits in the economy.
Stephen Stanley
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