The pending home sales data feed right into the hands of those who expect the Fed to end its interest-rate hikes.
More Quotes from Tony Crescenzi:
It is conceivable, for example, that the current weakness in stock prices may already reflect the weak earnings news that will be released over the next several weeks and the stock market might unwind some of its excess pessimism,Tony Crescenzi
It's a little surprising because I thought there'd be a little more concern over weakness in dollaryen.
Tony Crescenzi
In the aftermath of a string of bad inflation news, the Fed now appears to have ample ammunition to justify their strategy shift.
Tony Crescenzi
The Fed's beige book contains a little something for both the bull and bear camps but has a marginally negative tone to it,
Tony Crescenzi
Policy makers want to make sure in the language of their statement that whatever they do, it's meant as insurance -- they don't want to create alarm about the state of the economy, but they also don't want to create alarm in the bond market about the end of accommodative policy,
Tony Crescenzi
The Bank of Japan's feeble 10 basis-point rate cut to 0.15 percent shows the head-in-sand attitude that has led to weak money supply growth and a slow economy.
Tony Crescenzi
Readers Who Like This Quotation Also Like:
I'm as pure as the driven slush.Tallulah Bankhead
I have to admit I didn't do as much as I should have back when I was mayor, but now we're getting it done. It's not where you've been but where you're going.
Marion Barry
Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called everybody, and they meet at the bar.
Drew Carey