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Back in town

I have been travelling again. Since my trip out west, US 30 year Treasury bonds hit all time lows, the TED spread continues to narrow and, big surprise, US home sales actually edged up 2.7% last month.

The Fed is meeting this week and, if there is not a coordinated cut, the Fed will lower the Fed Funds Rate for sure.
Deflation is the new watchword.
My gut feel here is that the crunch is thawing a little and Canadian financials look ok. Oil companies are a spec here but surely are near a bottom.
Some bond issues are getting done, another good sign. A good article in Barrons second last edition had some well-seasoned arguments for a better US economy than forecast.
Could we be at the bottom?



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