David Rosenberg Lays Out 'The Lesson Of The Past Several Hours'


From David Rosenberg’s Breakfast With Dave note this morning:

Well, the lesson of the past several hours is that not even Apple is immune from the global economic slowdown (nor according to Moody’s, is Germany’s coveted Aaa credit rating) – a deep slowdown confirmed by the down beat guidance provided earlier by cyclically-sensitive UPS (“we think current second-half economic forecasts for the U.S. are too high and that GDP growth will be closer to 1 per cent” … this is NOT priced into anything save short and mid-part of the Treasury market), and the revenue miss from DuPont (another global blueprint).

SEE ALSO: The World’s Biggest Companies Reveal What’s Happening In The Global Economy >

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