We're back to the point where a good payroll number will be seen as bad, ... particularly since (Treasury) bonds have been setting up to sell off.
More Quotes from Paul Mendelsohn:
You probably just have some profit taking on people who've made some money on this move from 1,260 to 1,290 are on the SP 500.Paul Mendelsohn
However, the market has already discounted first-quarter earnings, and maybe even second, ... The greater concern is about the economy going forward.
Paul Mendelsohn
The market is still being buoyed by the energy sector. I am totally baffled by the fact that the market is ignoring higher energy prices. But at some time, higher energy prices will have an impact.
Paul Mendelsohn
This is the first crack in the home building area. Home building has really driven a large portion of this economic advance, and any drop in this area of the market would have very powerful ramifications for GDP growth.
Paul Mendelsohn
Imports rose to a record 177.2 billion, while exports also increased, to a record 111.5 billion. This creates a higher probability that the advance fourth-quarter gross domestic product will not be upgraded substantially higher, since a higher trade deficit subtracts from GDP.
Paul Mendelsohn
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