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Written by David Rosenberg - Gluskin Sheff
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Tuesday, 17 August 2010 07:26 |
In this issue of Breakfast with Dave
• Not the time for a jubilee: in a nutshell, we are in the early stages of a secular credit collapse following the biggest credit bubble in human history
• Canadian housing market: A long, hard summer: existing home sales in Canada fell 6.8% MoM, the 6th decline in seven months
• U.S. housing stuck in the basement: the NAHB housing market index sagged to 13 in August, the low-water mark for the year and the lowest since April 2009
• Early glimpse of U.S. manufacturing data disappointing: the NY Empire State Manufacturing survey for August rose slightly but misses market expectations
• The world, except for China, loves U.S. treasuries: net long-term flows into U.S. assets increased in June with foreigners picking up $33.3bln in Treasuries
.....read it all HERE
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