William Sullivan Data Quotations

The data will generate a debate at the Fed about how many more rate hikes there will be.

What we are reacting to is the somewhat stronger than expected tenor in the November employment data - that's it in a nutshell.

The stock market sees these data as representing an end to the recessionary environment and signaling some improvement in the not-too-distant future. For now, the dominant view is that this is the close on the 2001 recession, so you sell bonds to buy stocks.

The way the market is performing now sets the stage for a big rally if there are any data that prove disappointing on the economic outlook in the coming weeks.

The market remains very defensive ahead of these key data releases.