It is basically a subtle way to flash to the market that the negative economic consequences are resonating and that the Fed may not just look at this as a temporary soft patch this time.
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There is no doubt that when I speak to hedge funds and real-money investors, they have some questions. They say that he has to prove his credentials right away.David Rosenberg
Fed action is not a fait accompli -- weakness might have to extend through the second half to lead to a Fed cut.
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For the first time in 18 years, we managed to get through one of these semiannual congressional testimonies without a bottle of Advil in one hand and a Thesaurus in the other.
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Confidence declines of this magnitude typically happen around 'shocks' or 'events,' ... We don't really know what the 'shock' was this time around, but maybe we'll find out when the non-farm payroll report is released on Friday.
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We think that countries and areas of activity that have been weakest in the last couple of years are likely to see the strongest rebound in growth. Thus, Germany, Italy and the Netherlands should see more marked recoveries than Spain and France, where activity has held up well.
David Rosenberg
Investors should be focused on regions where there are healthy balance sheets and high personal savings rates. Areas where there will be appreciating currencies, where there is pent-up demand and where there is an ability among policy makers to spur that pent-up demand.
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Based on Topics: Time QuotesBased on Keywords: resonating
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