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Regular readers know that we abhor muni bonds as much as anyone. But my interest has recently been piqued by calls for short-term rallies from sharp guys like David Rosenberg and Steve Sjuggerud, who have cited the market as oversold due to the abrupt end of the Build America Bonds program. A somewhat misleading Bloomberg […]
David Rosenberg writes in today’s Breakfast With Dave that Obama was channeling Herbert Hoover during the State of the Union! A long-standing colleague and reader sent this off to me yesterday and it blew me away. Read on: Obama’s State of the Union: “Two years after the worst recession most of us have ever known, the […]
Courtesy of David Rosenberg, Chief Economist at Gluskin Sheff: The VIX index, at 17.5x, is back to where it was last April. Remember what happened next. Investors Intelligence bullish sentiment is back to where it was at the all-time market highs of October 2007. The non-commercial accounts on the CME have recently opened up a considerable net speculative […]
David Rosenberg writes today in his always excellent Lunch With Dave: It’s interesting that so many pundits lay claim to how great the shopping season is going – and yet nobody is using credit! Have a look at On Christmas Shopping Lists, No Credit Slips on the front page of today’s NYT. A mere 17% of shoppers have […]
Here’s a stat that seems almost too unbelievable to be true. According to economist David Rosenberg, high priced new homes are not exactly flying off the market. If this weren’t from someone as credible as Dave, I’d think this had to be a misprint of sorts – from his daily letter: Now back to the […]
David Rosenberg wrote today in his daily commentary that earnings expectations peaked with the stock market back in April. He observes that this is a common phenomenon – where stock prices do not follow earnings, but rather they more closely track earnings expectations. When expected earnings are revised up by analysts, stocks rally – and […]
Our unofficial “Deflation Chancellor”, David Rosenberg, penned an excellent rebuttal to a WSJ Op-Ed piece by Jeremy Siegel and Jeremy Schwartz entitled The Great American Bond Bubble. Rosenberg dispels a lot of “common wisdom” with regards to what drives interest rates and the bond market. His analysis, as always, is superb. You can read his […]
Zacks Investment Research reports: The Consumer Price Index (CPI) fell 0.2% in May, which was a greater decline than the 0.1% decline expected and the 0.1% decline in April. Year over year, headline inflation is up 2.0%, but almost all of that came in 2009, not in 2010. Over the last three months, the CPI […]
The deflation camp may not be well populated, but I have to say that I really dig the few economists and analysts that are sympathetic to the deflation argument. Perhaps it’s just because we all smoke the same lettuce – but I prefer to think there’s more to it than that 🙂 One of our […]
Nice video on CNBC featuring economist David Rosenberg…I really enjoyed his insights here, and would highly recommend a watch of this piece. Rosenberg believes this recent rally has priced in good news up until 2011 or 2012…and thinks 650 is a generous fair value for the S&P based on current fundamentals. He also thinks the […]
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