30 November 2010 by TPC 1 Comment
Have the last of the permabears started to change their tune?? I think it’s a stretch to say that Mr. Rosenberg is turning bullish, but his note this morning contained some unusually constructive comments.? Specifically, Mr. Rosenberg expects an upside surprise in tomorrow’s ISM report:
“The Dallas Fed Manufacturing Survey was another strong U.S. regional survey, adding to the list of manufacturing polls that have been better than expected. General business activity jumped to 16.2 from 2.6, the best reading in seven months. Similar to many of the other regional surveys, the components mirrored the strong headline with production up strongly. The labour subcomponents were solid as well, with the average employee workweek rising to 6.2, reversing four months of declines and the number of employees rose to 5.8, much better than the -4.1 reading in October and the highest level since May. Overall, we continue to expect an upside surprise to the ISM index due out tomorrow, which is expected to come in at 56.5 in November.”
Source: Gluskin Sheff
The content on this site is provided as general information only and should not be taken as investment advice. All site content shall not be construed as a recommendation to buy or sell any security or financial product, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of firms affiliated with the author(s). The opinions of all guest authors or contributors can and will differ from those of Mr. Roche. These opinions do not necessarily represent the opinions or investment decisions of Mr. Roche. The author(s) may or may not have a position in any security referenced herein and may or may not seek to do business with one another or companies mentioned via this website. Any action that you take as a result of information or analysis on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
A brief note on comments – The increase in users in recent months has resulted in an increase in unproductive comments. Any user who engages in the use of racial epithets or uses the comment section as a place to insult other users will be banned from the site. The comment section is welcome to all readers who are interested in asking pertinent questions and/or engaging in thoughtful, intelligent, and productive debate. In short, just be nice. Thanks.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php
Five Filters featured article: Beyond Hiroshima - The Non-Reporting of Falluja's Cancer Catastrophe.