5 year auction has very low turnout, i.e., not enough foreign buyers. This may be bad for the 7 year tomorrow
Beige Book is less optimistic than watchers expected (except this watcher of course)
Mortgage market not doing enough for underwater homeowners (oh really)
Retail activity is sluggish at best
Commercial Real Estate is falling off a cliff, down >17% YOY and continuing to fall and TALF will only go so far. Banks will have to be bailed out again over this.
JOBS JOBS JOBS there are none
Stocks have been run up since May by lowered expectations (even I have lowered my expectations, of the human race that is) with job losses and scaling down inventories helping earn .01. Where's the beef! We'll see
Oil and gas inventories along with manufacturing and durable goods have no demand
Inflation is an afterthought (we already had that train wreck and now we need DEFLATION)
Consumers have no more job, no more credit and no more house.
We are all subprime now!