From UBS Murry N. Harris, three good omens for the US economy.
- Actually, governments are balancing budgets… state governments that is. Outside of Athens and Washington, you’re actually seeing balanced, on-time, and austere budgets in places like New Jersey, California, and New York.
- Both the ISM and home prices are stabilizing. Rents are also rising.
- Payrolls this week will probably be decent. Private payrolls could grow by 160K.