There is plenty of bad business news out there, including with icons such
as GE, AIG, banks of all sorts, municipal bond insurance companies and more.
Consumers are squeezed by energy, food prices, falling home prices and limitations
on credit -- and municipalities aren't apparently limiting their budget growth
(and taxes) in line with their tax payers growth in income.
US investors are facing likely increases in taxes on capital gains and dividends
after the near-term elections.
Key emerging markets, except for oil exporting ones, are experiencing growing
inflation and are raising interest rates as a result.
The professionals are a mixed bunch, as usual, some bullish and some bearish.
The charts are not a pleasant site. All broad equity indices are down.
Only the energy sector is up in the US and globally. Only Russia, Brazil and
the GCC countries show stock market life, presumably because they are important
oil exporters. Canada is just about breaking even -- but the rest ... not so
good.
Bonds have been a fairly safe haven. Energy and other commodities have been
riding high, but may hit an affordability wall that could change short-term
performance dynamics.
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are as of July 5, 2010. Our opinions and positions may change as subsequent
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