21 Quotes by Jeff Cheah

What all this tells us and is certainly telling the Fed is that maybe we need to examine what the sustainable growth rate really is. The risk is that we have an economy that is growing at a pace that historically suggests we should see inflation pressures, but we're not seeing that yet.

There is a lot of concern about Cisco's earnings. Rather than risk major disappointment, people are saying it might be better to stay out of the market. And because it is a bellwether stock, Cisco will have an impact on other tech stocks.

So I think that kind of spooked the market a bit, but we're in heavy earnings season, so we're going to hear a lot of that stuff going forward.

If they were to cut rates, it might endorse the view that the Fed believes inflation is not a problem. And that can be a dangerous game.

There is a fundamental sentiment change, aside from that nothing has changed. Sentiment was very bearish yesterday and you could attribute that to nervousness. I expect a roller-coaster ride for another two-to-three weeks. I'm bullish but I don't expect it to be a smooth ride.

What is clear is that Japan does not really want a strong yen. If the currency gets too strong it might stall the growth momentum we've seen coming out of Japan.

Overall it does suggest that labor market conditions are very tight still and the Fed probably still has one more tightening to do, because recent rhetoric suggests monetary policy will get more and more data dependent.

On the surface it looks very impressive, but we still feel there are a few hurdles that we need to overcome, but we've made a good step at challenging those levels.

Stabilizing ... that is the key word that investors are reacting to.