Don Galante Quotations

We're basically marking time into the PPI and CPI numbers.

At some point next year I do anticipate the Fed is going to take back some of the liquidity it pumped in. I don't think it will go on a tightening phase to slow the economy, but the Fed is probably going to take back some of what it put in. That's the trade in the second half of the year.

The bottom line is we have to wait for these numbers between now and the next meeting.

Stocks are doing better; that has taken a little bit of froth out of the (bond) market.

The fundamentals of higher rates are still in place.