Right now the market is in a bearish mood. Sometimes it's good to be reminded that the market is not always rational.

Right now the market is in a bearish mood, ... Sometimes it's good to be reminded that the market is not always rational.

This could mark a turning point. After all, the Fed was right, the latest slowdown was temporary and the economy is about to gain speed going into the second half of 2005, which would imply that more rate hikes lie ahead.

The credit market right now is bracing for some bad news. Yields should continue heading higher until the U.S. economy slackens appreciably.

The credit market right now is bracing for some bad news, ... Yields should continue heading higher until the U.S. economy slackens appreciably.

This could mark a turning point, ... After all, the Fed was right, the latest slowdown was temporary and the economy is about to gain speed going into the second half of 2005, which would imply that more rate hikes lie ahead.