The Fred Report - Monthly July 2013
Stocks have had a strong rally in the first half of 2013, and have hit price projections made last November. So far, this drop has been sharper than previous short-term corrections in 2013. Economically sensitive sectors have started to lag. Commodities are weakening, perhaps because our forecast of a slowing worldwide economy is occurring. Bonds have weakened in accordance with long-term forecasts but were much weaker than expected short-term. Bonds are oversold enough to bounce, this may not occur. Caution is indicated.
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