Wednesday, April 1, 2009
Here's a nugget of good news: a two-month decline in corporate layoff announcements. This is consistent with my view that the worst of the economic news hit sometime around the end of last year. Things are still bad, of course, but they are not deteriorating, and that's important, because markets are still priced to the expectation that we will shift from what is now a bad recession into a depression. So far I see no evidence of that occurring.
Posted by Scott Grannis at 6:42 AM