The Fed has been very, very clear, and that's going to keep the market under pressure.
More Quotes from Tony Crescenzi:
Too often the administration is looking to go it alone, ... It acts in an isolationist way that is harmful to growth. I'm really loyal to the Republican party, but I don't like this attitude at all.Tony Crescenzi
Where was the Treasury when the rest of America was refinancing its debt
Tony Crescenzi
Policy makers want to make sure in the language of their statement that whatever they do, it's meant as insurance -- they don't want to create alarm about the state of the economy, but they also don't want to create alarm in the bond market about the end of accommodative policy,
Tony Crescenzi
The rhetoric over the fiscal stimulus package heated up this weekend, reducing the likelihood of passage, ... In what may become a famous remark, President Bush said that Congress would 'raise taxes over my dead body.'
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There seem to be all the elements of a good auction -- the bid-to-cover ratio was solid, the yield was as expected and yields are not rising.
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Greenspan's confidence in the predictive value of gold (as an inflation indicator) might be high enough that, when combined with other critical predictors . . . could push Greenspan to either hawkish words or action,
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