Good Morning. We have a very big week of economic data including durable goods, GDP and personal income along with a host of regional Fed surveys.
If the Fed launched QE3 because of fear that the economy is deteriorating rapidly, then the data should indicate that. The Fed had a good thing going with just threatening to launch QE. But for some reason they felt they actually needed to launch it. So it would seem like something is developing behind the scenes. The shippers certainly are confirming that thesis.
As a follow up to this week’s Market Video, below are some model updates.