David Rosenberg says that bond yields are going even lower. He thinks those who say that we're in a "bond bubble" are fools. (I don't happen to agree with him, but I do agree that rates could move lower.) He has an impressive array of statistics to back up his assertion, unlike, say, Roubini, who may have the statistics, but doesn't bring them forward. Mitsubishi Asset Management is calling for a 1.75% yield on the 10-yr note!!! These are Depression-like numbers, and that is exactly Rosenberg's point.
Whoever would have expected ~4.3% for a 30-year fixed mortgage?
A report out today says that large flat-screen TV's will be selling for around $299 after "Black Friday."
Blockbuster declared bankruptcy today.
Staples is selling pens for a penny.
Unemployment continues to grow.
The housing market continues to slump.
Why not raise cash in this environment?
The deflationary/de-leveraging scenario continues to play out and shows no real sign of abating.
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