Tuesday, October 22, 2013

It's The Economy Stupid: The Trend Is Your Friend, Until It's Not

Here is a trend that is not your friend…


Change In NonFarm Payrolls:

Last 3 Months Average – 143K

Average Previous 3 Months Before That – 182K

Average Previous 3 Months Before That – 207K

Average Previous 3 Months Before That – 209K


Let’s recap.  Shutdown.  Fear of U.S. Government default. Congress kicked the can down the road to the beginning of 2014.  Payroll data showing a clear weakening trend. 


If you hear any pundit on TV talking about the Fed tapering its economic support program this year, change the channel because it is coming from someone who is clearly in denial.   And that’s “denial”, not “da Nile”.


John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury




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