Over the past three decades, the Fed tightened on eight occasions, five of these saw the yield curve invert,
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The glue that kept the consumer market together the last few years was the wealth effect from the housing boom.David Rosenberg
If he and the homebuilding executives are assessing the market correctly, investors will do well to sell into the Katrina-inspired rally and lock in gains. And anyone thinking of buying a house now may wish to think again. The market is as vulnerable today as the last time we had this stretched affordability in 1989, ... It might not be on the same par as the equity bubble in the late '90s, but it's not far off.
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We're not sure what to make of the fact that we find out from a reporter about comments that the Fed chairman made at a dinner two days earlier.
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There is no question that these are trends that are going to add to people's anxiety and the process has already started.
David Rosenberg
The Fed seems intent on raising rates through this Katrina business on the view that the pending rebuild stimulus will trump the near-term economic loss.
David Rosenberg
If the Fed is truly data dependent, then what matters most...is the data flow for the second quarter. What do we know about the second quarter Well, not that much, but what we do know suggests a slowing to around a 2.5 annual rate.
David Rosenberg
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