We're not likely to get the bond yield moving through that 4.75 percent level until we get past all this turmoil that is now in the market.
More Quotes from Wayne Angell:
No one should interpret the remarks as being a prelude for the Federal Reserve raising the Fed funds rate at the December or February meeting. That's not going to happen. If that was going to happen, the chairman wouldn't have made a speech to puncture the exuberance.Wayne Angell
I've never seen a time when there's been such a blow-up of the kind of risk to the U.S. economy. We've taken a 2 percent trade drag for the first three quarters of 1998 and yet we're still averaging a 3.25 percent growth rate for these first three quarters.
Wayne Angell
This confidence report increases the likelihood rates will be moved down another half percentage point to 2.5 percent. That's going to increase the likelihood of an improvement in economic conditions next year.
Wayne Angell
Chairman Greenspan's comments went further than previous Fed commentary on recognizing the degree of slowing in the economy and clearly pave the way for the Fed to switch to a neutral directive. Moreover, his comments further encourage us in our belief that the Fed will lower rates in the first quarter of next year.
Wayne Angell
The world's central banks have certainly decided U.S. Treasury notes are a better long term investment than gold.
Wayne Angell
The markets are saying (a rate hike) is not only justified, but it's good news. It remains to be seen whether the economy will be stronger than we anticipate.
Wayne Angell
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