To be honest, I don't think his remarks had any major effect.
After (Wednesday's) GDP revisions people were focusing on it, and it's given us a bit of a boost here.
The number was stronger than expected and I think people are taking it to heart.
The market was prepared for the end of quantitative easing, it has caused some turbulence in the past couple of weeks.
The selling pressure has subsided a little bit.
The results are mediocre at best. Given the amount of corporate supply coming and the refunding announcement around the corner, it's not a good sign.
They are somewhat pleased. We'll need to see continued weakness before they'll feel like housing is a reason to slow the tightening process. This is just one month's number.
The housing sector is definitely something everybody is focusing on in 2006. If people start to see the value of their homes heading lower, there's no doubt we would see a slowdown in consumer spending.
We're essentially unchanged on the day ... and the market is positioned short before the [January] payroll number.
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