Sunday, October 23, 2005

Doug Noland is expecting increased volatility through the end of the year, but he doesn't yet detect the start of capitulation
So I am left – for now – to lean toward assuming that mortgage debt growth will remain resilient, that housing markets stay resilient, the consumer demonstrates surprising resiliency, the economy hang tough and liquidity excess probably remains resilient - that is, until the bond market falters.
That is good news coming from Doug

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