The idea is that the Fed has a little more work to do and the economy is showing trend-level growth. A really ugly housing number could hurt consumer spending, but that hasn't been the case yet. A soft number helps the market.
More Quotes from William Hornbarger:
There's some concerns we're going to get a pretty good employment report tomorrow.William Hornbarger
The risk is people leave with the perception that the Fed is concerned about inflation, and that the lower long-term rates stay, the more they have to push short-term rates.
William Hornbarger
People are going to hear about it tonight on the TV, the highest yields in four years.
William Hornbarger
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