This has nothing to do with whether the yield is too high or too low or whether it's over or undervalued. And it certainly has nothing to with foreign central bank activity. It's about the business cycle.
More Quotes from David Rosenberg:
One has to wonder how long the consumer can continue to spend at ... dizzying rates without a material improvement in the labor market.David Rosenberg
This would provide the Fed some flexibility regarding future meetings.
David Rosenberg
We estimate the near-term loss in terms of output, employment and income in the affected area coupled with the surge in energy costs that impacts everyone will offset any future rebuilding by a factor of two to one.
David Rosenberg
There is going to be near-term inflation. Is it going to be sustained I doubt it.
David Rosenberg
For every pricing power story the Fed hawks and bond bears can find, we can probably match in the opposite direction.
David Rosenberg
So many clients are telling us that we are just plain wrong and there is inflation everywhere. But ... the bulk of these complaints come from folks who have kids in college ... Prices set according to supply and demand are flat or falling for the most part.
David Rosenberg
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