wig,
Greenspan backs my bet
;-)
Greenspan told lawmakers U.S. employment should pick up before long as the economic recovery gains momentum.
"In all likelihood, employment will begin to increase more quickly before long as output continues to expand," he told the House Education and Workforce Committee.
"This was the second speech within a month that Greenspan chose to deviate from his scheduled topic in order to signal a sense of optimism about the long-term outlook on jobs," said Tony Crescenzi, chief bond-market strategist with Miller Tabak & Co.
"There are some who believe that the Fed has been trying to signal a modest shift in its commitment on short-term rates," he added.
Last Friday's payrolls report sent the bond market on a tear, driving yields from a tight range to the July lows, as short-term interest-rate futures markets pushed back expectations for a Fed rate hike until near year's end.
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