Monday, April 12, 2010

Breakfast with David A. Rosenberg April 12, 2010 Report $SPY

---------------------IN THIS ISSUE---------------------------------
• While you were sleeping — Greek default concerns should abate on a new rescue package.
• More on US profits: Financial sector profits have accounted for 85% of the overall increase in corporate earnings.
• Remarkable rally? Even with the Dow touching 11,000 for a nanosecond, we don’t have all-clear, especially with lingering problems in Greece.
• Frugality abates? We don’t think so. If left to their own devices, Americans would be focused on frugality and saving for the future if politicians created the incentives to do so.
• Setting the record straight on the bond debate.
• Update on our propriety valuation models – US equities still the most overvalued asset class.

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