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We’ve seen some moderate improvement in credit indicators over the last few weeks. The TED spread has reached the low 80’s and many other indicators also continue to improve. These are still very elevated levels in historical terms, but things are definitely improving.

tedClick for larger image

  1. Onlooker

    Yes, this is indeed a good thing and important but it’s just one part of this whole downturn. Those who look to this and the inventory bounce being presaged and think we’re out of the soup are missing the iceberg looming ahead in the form of a huge foreclosure wave and the structurally broken economy that won’t provide jobs to many of the millions out of work anytime soon.

    I know that you know this TPC. But many are missing this picture, IMO. And they’re supposed to be investment and economic experts.

  2. Cullen Roche

    Obviously, I agree. But you have to respect the market action here. Getting in front of this rally is just not an option right now. You either have to be long or cash….

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