With the Fed out of the way, we can be a tad more constructive on the US real sector.
Consensus has the US in stagnation, near term. No, there will be moderate growth into year end, on 6 of 8. Both employer and consumer (Irene ?) will surprise.
Canada will tag along, and both Japan and China will broach expectations. The emerging credits will continue to "emerge."
A judgement on the EU is necessary before setting trades however as that very potent wild card remains in place.
Robert Craven
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