The market feels if one is in trouble, there could be more we don't know about.
More Quotes from Tom Benfer:
The German IFO survey took all the wind out of any hope for successful intervention. In order to intervene, they need to have some improving fundamentals.Tom Benfer
It's a lose-lose situation for the yen. Traders feel they shouldn't raise rates because the economy is still too weak at this point.
Tom Benfer
If the yen continues to strengthen, then it's not a good thing for the Japanese because their exports aren't going to be competitive into the U.S.. I think as you get to 105 and pull below, it's going to hurt the Japanese stock market. So, too strong of a yen is not good.
Tom Benfer
The core number (which excludes the volatile food and energy sectors) is expected to (gain) 0.2 percent, which would be good and I think that would give the market a further sign of relief and could give the bond market a boost.
Tom Benfer
The dollar looks like it got too weak last week.
Tom Benfer
We'll have to watch the data closely now between Aug. 24 and Oct. 4 to see how strong the numbers are. So it's going to be key now on how strong the economy looks going into October whether or not they would move again by another quarter point in October. So I think that's the question mark Do they go 50 (basis points) or do they go 75 basis points for this year
Tom Benfer
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