FP Trading Desk submits: Negative growth rates lie ahead, there is no pent up consumer demand, and the Federal Reserve is "pretty much out of bullets” after cutting interest rates to 2%, warns Merrill Lynch economist David Rosenberg. In a note to clients Monday, Mr. Rosenberg suggests that in light of some tough times ahead, investors “stay conservative, defensive ,with minimal risk and minimal exposure to cyclicals and financials,” he said. In the note, called “Pieces of Eight: Lessons We Learned Last Week,” Mr. Rosenberg makes the following observations: Complete Story » ...
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