A characteristically brilliant Kyle Bass at Chicago Booth.
After sneaking higher in recent weeks, yesterday Natural gas shot up on the inventory report. Has the worm finally turned? Is the lower rig count going to appear in production? HAI
Weekly Initial Unemployment Claims decrease to 332,000 at Calculated Risk.
“In our forecast, the expansion of real GDP steps up to around 2-3/4 percent in the second half of this year and beyond” at Business Insider. We’ve heard the suggestion elsewhere. If true it’s really positive…
Oaktree’s Howard Marks: Equities in Stage 2 of a Bull Market at Market Folly.
From a really bullish friend:
“Three Green Shoots
The CEOs have become more optimistic about business conditions in the future. http://www.businessinsider.com/business-roundtable-index-rises-2013-3
Joe LaVorgna, a bullish economist, is looking for a 3.0% GDP in the 1st Q 2013 based upon stronger exports, stronger retail spending, and stronger inventory restocking. http://www.businessinsider.com/deutsche-bank-raises-gdp-growth-estimate-2013-3
Finally, David Tepper is reportedly super bullish, looking for a 20% rise in the market this year. http://www.businessinsider.com/tepper-thinks-sp-could-rise-20-percent-2013-3
For those still waiting for a dip to get in, the pressure is building. They’re hoping for a dip in response to a Congressional battle over the budget. But what if that doesn’t happen? If Congress reaches a compromise, the market likely will spike higher. Then the next dip probably won’t occur until the Fed stops pumping in $85B a month into the US financial market. Who knows when that will take place? I can’t see that happening anytime soon, given Bernancke’s determination to avoid the mistake the Fed made in 1938 by tightening prematurely.”