Tuesday, June 07, 2016

David Rosenberg*: I Don't Want 
To Alarm Anyone, But ... 
Rosenberg: "As for the markets, the data imply a reversal in investor-based odds of a rate hike, which had moved to a better than 50/50 bet for late July, and that in turn is bearish for the U.S. dollar, but bullish for Treasurys, curve-steepening trades, gold, emerging markets and rate-sensitive stocks like utilities and telecom services." .. Rosenberg details the worsening U.S. economy .. "You can see why I was gagging when I heard some of the pundits on “bubblevision” tell the anchors this morning that the Fed will look through one number.
Dude — this isn’t one number. It is a pattern of softness that has been in effect for four months … & counting
.. I don’t want to alarm anyone but the facts are the facts, and the fact here is simply that this is precisely the sort of rundown we saw in November 1969, May 1974, December 1979, October 1989, November 2000 and May 2007. Each one of these periods presaged a recession just a few months later — the average being five months."
LINK HERE to the article

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