Michael Woolfolk Quotes


While the US trade deficit showed an unexpected improvement in February, any lasting market enthusiasm was firmly misplaced. Energy prices continue to rise while China remains resistant to further currency flexibility. - Michael Woolfolk


While the monthly December data was not itself a negative surprise, the aggregate 2005 total was a rude reminder. - Michael Woolfolk


Whereas Asian demand for US bonds is unlikely to end any time soon as a conscious policy decision, the reversal of petrodollars from the US bond market remains the greatest threat to the dollar in 2006. - Michael Woolfolk


What we are concerned about is that going forward they may decide to remove petrodollars and redirect them elsewhere. If they do, it is negative for the bond market and ultimately for the U.S. dollar. - Michael Woolfolk


Were this trend in new home sales to continue, the Fed will be less likely to increase interest rates, which would be a dollar negative. - Michael Woolfolk


We would have to say there is a confluence of events conspiring against the dollar. - Michael Woolfolk


We won't see the dollar embarking on any new trend until the markets get a better sense of where the Fed is headed. - Michael Woolfolk


We see that elevated oil prices and a continued Asian central bank intervention ensures that foreign demand for U.S. treasuries remains strong during January. - Michael Woolfolk


We knew that there were going to be some hurricane-related distortions in the September data, but this really exceeded our worst fears. This was a turn for the worst. - Michael Woolfolk


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