This appearance has taken on heightened significance as we try to find clarity on whether the Fed will stop tightening after May 10th (policy setting meeting) or not.
More Quotes from Kevin Flanagan:
The market had gotten itself into a position where the thought process was the economy was cooling off a bit and the Fed was close to being done raising interest rates. These numbers threw a wrench into the works.Kevin Flanagan
While perhaps showing some retrenchment in manufacturing activity, the data nevertheless reveal that there are price pressures perhaps building in the pipeline. I think right now it keeps the Fed on their toes and does not dissuade at all the argument that they will consider tightening again in May.
Kevin Flanagan
It's more of a selling of the two-year note today, while the 10-year note is range-bound.
Kevin Flanagan
The sentiment is not as enthusiastic as it was early this week. Investors are starting to realize that if the (economic) numbers continue to come in on the strong side, the Fed is going to tighten (credit) again.
Kevin Flanagan
We understand that ASR is a gathering of the tribe, and we wanted to make sure the issue was covered.
Kevin Flanagan
Investor psychology is so fragile that there would be a what-does-the-Fed-see that-we-don't mentality. I don't think the market would benefit. The Fed would be best served by holding onto their ammunition to use if they have to.
Kevin Flanagan
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