(Note: Due to computer challenges, this note was written earlier today, but was not able to be posted until this evening -- Ed.)
Good Morning,
Bonds are modestly higher in early trading this morning, while Stocks are sinking due to more negative talk about the financial system.
In the news today, the International Monetary Fund will reportedly release new forecasts that suggest toxic assets in the US could reach about $3 Trillion, which is $1 Trillion more than the forecast three months ago. Also adding selling pressure to Stocks is word from hedge fund giant George Soros that the US banking system is insolvent and that the economy won't recover in 2009.
With Stocks under selling pressure currently and Bonds holding above a floor of support, I recommend floating for now. If the situation changes, however, I will certainly let you know. In the meantime, I truly hope that you have a great rest of your day. If there is ever anything that I can do for you, please let me know.
Tuesday, April 7, 2009
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