europe haemorrhaging , page-65

Solarx,

Agree the ISM is not conclusive but a quick look at the ISM from 1991 and also US GDP to that date suggests that there is good correlation.

I am not sure about how far the US financials can rally but surely the worst has been priced in, well and truly.

Another point I would like to make about the current inflation concerns is that a leveling out of soft commodities prices and oil (they don't even have to drop) will be sufficient for these talking heads to call that the inflation genie is back in the bottle.

H