Wednesday, May 25, 2005

Master of His Domain

by Tom Bozzo

In the occasional Greenspan: Genius or Idiot Hack watch, we have an apparent effort by the Chairman to jawbone the world towards more rational levels of real estate exuberance, FOMC minutes that evince some concern for slower growth but also higher inflationary expectations (neither a big surprise, per Mark Thoma), and in return the the 10-year Treasury yield has drifted down to 4.03% as of this writing...

William Polley is right, "conundrum" may not be a strong enough term to describe what's going on in the bond markets.
Somehow Bunky Hunt always comes to mind when AG gets out the ol' crystal ball.
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