Thursday, May 31, 2012

It's The Economy Stupid: Uh Oh! Washington is gonna need more lipstick.

Chicago Purchasing Manager index reported 52.7, much lower than economist’s expectations of 56.8, and last month it was 56.2.  It was 64.0 in February 2012.  52.7 is the lowest number since September 2009.  Numbers greater than 50 signal growth, numbers less than 50 signal contraction.


Together with the GDP numbers clearly the economy is starting to feel the effects of the Euro crisis.


The 10-Year Treasury blew through the 1.60% barrier and is trading around 1.592%.


You can’t put lipstick on this pig.  This is a bad number. BAD, BAD, BAD!




John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721


Street Address:

445 North Blvd, 7th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street,

Turn Left to get to North Blvd,

Turn Right on North Blvd


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