January 3, 2011
Albert Edwards, SocGen bear, takes a bite out of China
The Guardian offers us paragraph after paragraph of doom and gloom today. Here's a teaser.
Edwards is thus sticking to two eye-catching predictions. Stock markets will revisit their March 2009 lows (3512 for the FTSE 100). And, despite the hints in recent months of a return of inflation, gilt yields will fall below 2% (from 3.5% today) as deflationary forces reassert themselves. Oh, and for good measure, prepare for the hard landing in China and the crash in commodity prices.
For what it is worth, I still lean deflationary.
Philly Fed: State Coincident Indexes Increased in 41 States in July
(3-Month Basis)
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From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for July 2025. Over the past three mon...
9 hours ago
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