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