This just in from Gloomberg-
*STERN AGREES WITH BERNANKE ASSESSMENT ON INFLATION BIAS
*STERN SAYS `THE BULK’ OF HOME CONSTRUCTION DOWNTURN IS PAST
*STERN: SUBPRIME PROBLEMS UNLIKELY TO HAVE BIG OVERALL EFFECT
*STERN SAYS GROWTH CAN BE SUSTAINED IN `FACE OF DISRUPTIONS’
*FED’S STERN SAYS U.S. ECONOMY IS `RESILIENT AND FLEXIBLE’
The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.
This report tells why, and what to look for in the data and the markets. GO TO THE POST