“Societe Generale has joined the chorus of forecasters calling for a slow-down and not a collapse in the US economy. A nice brief summary from their latest strategy notes:
If you enjoy the content at iBankCoin, please follow us on Twitter“FED FOCUS: We see QE3 as highly unlikely
Soft patch of data has brought back speculation about QE3. Highly unlikely: in contrast to last year’s slowdown, current softness has not pushed down long-term inflation expectations.
ECONOMICS: SG Business Cycle Index remains strong
Main drivers lately: swaps spreads, equity returns, commodity prices. But other variables (consumer confidence, commercial & industrial loans) picking up the baton. Those positive signals should materialize in robust GDP growth in H2.”
