Ethan Harris Relief Quotations

The bond market went into this report looking for disaster. I think there's a sense of relief in the bond market.

What happened is that initially the market breathed a sigh of relief when the storm was downgraded to a Category 4 and missed New Orleans, ... they are starting to look at the damage more seriously. We are seeing further upward pressure on oil prices. People are starting to think about the many aspects of the destruction here.

Payrolls were well below the whisper number, so there's been a big sigh of relief in the market,