Tuesday, March 30, 2010
More signs of a V-shaped recovery: industrial metals prices are now up 110% from their late 2008 lows. The global economy must be doing quite well, and accommodative monetary policies from most of the world's central banks are not interfering with the ongoing rise in prices or the expansion of activity. So far I have seen no signs in sensitive asset prices of a slowdown in economic activity anywhere. How much more evidence does the Fed want to see before they take the "daring" step of raising short-term interest rates by a few notches?
Posted by Scott Grannis at 9:42 AM