ROSENBERG: Here Are 6 Dark Economic Clouds That Are Parting

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Lately, David Rosenberg has adopted a more optimistic tone in his research notes.

“While I wouldn’t exactly say that I see silver linings, I would say that some clouds certainly appear to be parting,” wrote the normally bearish Rosenberg in this morning’s Breakfast With Dave note.

He offers six such clouds that are parting:

  1. “…some stabilisation of the U.S. data that should prevent further downgrades at least as Q4 GDP consensus call is concerned.”
  2. “…we are moving closer to a deal on the fiscal front.   The cliff will likely be avoided but Q1 will still be a steep hill.”
  3. “…China not only managed to successfully guide its economy into a soft landing, there are now signs of renewal in industrial activity.”
  4. “…there are [U.S. housing market] experts who I have a ton of respect for (Michele Meyer at BAML, for one) who sees sustained strength in 2013.”
  5. “Japan just elected a new government that is much more dedicated towards reflation than its predecessor.”
  6. “…we know that the ECB has managed to put a floor in regarding the Euro area crisis which has not suffered a flare-up in a year.”

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