Even Clint Eastwood could not have written a better script that would pit the bulls and the bears against each other over the meaning of today's payroll report, ... The winner, however, may not be known for a while longer since the data is sufficiently murky.
More Quotes from Tony Crescenzi:
Greenspan usually refrains from saying anything market moving ahead of speeches before Congress,Tony Crescenzi
The supply of bonds won't have a large bearing on the yield levels or the structure of the yield curve, ... The influence on interest rates will come more fundamental factors such as inflation expectations, competition for capital and monetary policy.
Tony Crescenzi
While the results of the September jobs report are impressive and seem to suggest that the underlying strength in labor demand has been unaffected by recent events, the strength could well reflect the lagged effects of past strength in the economy and the data therefore provide much less guidance about the future than might seem obvious.
Tony Crescenzi
The Fed certainly recognizes the importance that the markets are placing on the housing market and could well use it as a means of sending strong signals.
Tony Crescenzi
The Fed's beige book contains a little something for both the bull and bear camps but has a marginally negative tone to it,
Tony Crescenzi
While Greenspan did not hint that such would be delivered at the June 29-30 Fed policy meeting, he chose language that could well be inserted into the policy statement for that meeting, paving the way for a half-point hike at the August 10 or subsequent meetings.
Tony Crescenzi
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