It certainly looks rather more realistic than it did before the release of these figures.
As we go into the new year, we have to ask ourselves: 'Can this growth continue, and what is going to happen with Iraq?'
I don't think anybody expects them to move on rates given their recent rhetoric.
Generally we're looking pretty quiet - one of our traders just told me it's one of the quietest days he's ever seen.
I think the market is in a dangerous position. It has gone a long way toward pricing out a [Fed] rate increase, and that does leave you vulnerable if data comes out pointing to inflation.
I think he's still concerned to keep the stock market afloat and to hold down bond yields. He's going to be more inclined to talk the markets up rather than down.
Markets want to hear some kind of hint that they'll back up these words with action, specifically intervention in foreign exchanges to drive the euro higher.
I think the market is in a dangerous position.
His reputation as an arch-dove on inflation is rather misleading.
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