Thursday, April 30, 2009
Weekly unemployment claims have not increased on balance for the past 12 weeks. It's looking more and more like the economy has hit bottom. The ISM manufacturing index to be released tomorrow could be very interesting, particularly if it shows continued improvement. I see the ongoing rise in equity prices and new highs in Treasury yields as a sign that the market is beginning to accept that we've seen the low point in this recession.
Posted by Scott Grannis at 7:18 AM