Weak. Very Weak.

Weak in review: 10-yr Treasury rates fell to their lowest level since 4/50 and the stock market plummeted! This was due to the unfolding Euro disaster, a benign fear of long-term US inflation and a dismal Philly Fed number, a measure of mid-Atlantic factory activity, that fell to a 2.5 year low, suggesting anemic US growth. Credit Suisse said if the Philly # is a national barometer (who knows if it is), a recession already began.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.