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Economy Still Stirs Anxiety
Home prices are poised for another drop, the Fed is sounding notes of caution, and the IMF is screaming for more stimulus. Durable goods orders? Bleh! As noted yesterday, nearly one in four mortgages in the U.S. are under water. The view on U.S. equities is turning sour. Russia has a newfound confidence in the dollar—the Canadian dollar, that is.
On the positive side of the ledger, homes sales are up. But that's mostly a function of government tax credits that are set to expire. Consumer confidence for November? It's down. And we all know that the jobless rate in the U.S. is above 10 percent and is expected to remain there for the time being.
Is it just possible that sentiment ran a bit ahead of the "recovery"?
Steve Rosenbush is the blogs/industry editor for Portfolio.com.
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