The Fred Report - Sector Review December 2011
Since the last sector review, the markets have traded sideways. Sentiment indicators remain elevated, but individual readings have started to come down. We acknowledge headwinds: (1) we see NO further U.S. government stimulus until after the 2012 elections, (2) Eurozone problems, and (3) Debt issues in the US. However, the markets may have discounted these issues, which are widely acknowledged, and European fears have kept sentiment negative, a plus.
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