It remains unclear, of course, what role economic data really are playing in markets just now. Despite evidence that the recovery continues both in the U.S. and abroad, equity markets continue to struggle. Maury Harris More Maury Harris Quotes 1
The implication is that raw winter weather may have depressed starts last month, particularly late in the month. Even so, starts remained above the 2003 average [of] 1.85 million [units]. Maury Harris More Maury Harris Quotes 0
We believe that the Fed will require both consistent solid hiring and a rise in inflation before it begins to lift rates. Maury Harris More Maury Harris Quotes 0
The bond market had been worried that we were near full employment and wage pressure would pick up and that the Federal Reserve would have to raise short term interest rates in response. But now that the all important employment cost index was up just 0.6 percent, the Fed doesn't need to raise short term rates because the economy is slowing down. Maury Harris More Maury Harris Quotes 0
A key issue now will be whether the latest spike in gasoline prices leads to another 'soft spot' in consumer spending. Maury Harris More Maury Harris Quotes 0
Through the volatility, the trend in claims is gradually downward again, consistent with the labor market slowly starting to regain momentum after a setback in late 2002. Maury Harris More Maury Harris Quotes 0
The bond market has been moving on two things today: the movement of stocks and this speculation about the yuan. Maury Harris More Maury Harris Quotes 0
We are seeing a 'soft landing' rather than a 'hard landing' in consumer spending for a couple of reasons. First, although job growth is slowing, wages are still rising, with average hourly earnings up 0.4% in October. Second, despite recent stock market turmoil, consumer spirits are holding up reasonably well. Maury Harris More Maury Harris Quotes 0
Today's FOMC statement did not add any new specificity or much elaboration, and the initial reaction in the bond market has been limited. Maury Harris More Maury Harris Quotes 0