- Decline in personal wealth near $5 trillion last 2 quarters
- All social classes are feeling the pinch
- Few places to hide that offer real protection
- Dollar strong ahead of G-8 Meeting
- Japan with positive comments on treasuries
- Long-term inflation picture intact
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June 13th, 2009 at 2:23 pm
I think you are right that we’re range-bound. I follow the S&P Retail Index (being a retail consultant), and it clearly is in a holding pattern after signaling a retail bounce back for the last three months. I do expect that retail sales will turn in the September/October time frame when the same-store comps turn favorable, but anemically so. I expect retail stocks to remain within a range until we see exactly how much energy the consumer really has this fall.