We had a massive jump in the Conference Board measure of consumer sentiment last month, and everybody will be looking for confirmation of that improvement in the Michigan survey.
More Quotes from Lara Rhame:
Policy makers' concern is that we're still only forming a bottom and that the process is still very fragile. Their concern is not for data in December and November...They're concerned about January, February and March, which will show continuing job losses, less spending and less income.Lara Rhame
Almost always the knee-jerk reaction in the markets to positive news on reforms is yen positive. People look at reform as being a positive thing for Japan, one day, hopefully.
Lara Rhame
Broadly, the ISM number reflects what we've been saying for some time We're on the road to recovery, and we've seen the slowest growth behind us -- but this recovery is going to proceed in fits and starts. It's not going to be a one-way street.
Lara Rhame
For the Fed, productivity is the antidote to inflation, and that's still very strong. It's inconceivable that the Fed would tighten in four out of its next five meetings.
Lara Rhame
I don't see the scope for the ECB to match the Fed in terms of raising rates and this will continue to support the dollar. The ECB tends to lag the Fed and even if they hike, the yield differentials are still favorable to the dollar.
Lara Rhame
The next couple of months will be absolutely crucial. If we can get through this, we're going to have growth that will be consumer-led next year.
Lara Rhame
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