Friday, June 11, 2010

Dueling Econ Reports

The market tanked on retail sales this morning and came roaring back (sort of) on consumer confidence. It seems to me to be the classic battle between what people say and what people do. I'll go with what they do, especially because it has to do with their money.

For all you Gregory House, MD fans, this is the good fictional doctor's exact philosophy. He could care less what the patient says. Only test results matter. Retail sales matters and it was lousy.

Oh, and has anyone notice that three-month T-Bill yields have been plunging this week. The flight to safety is not over.

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