Salient to Investors:
Caroline Baum writes:
Private foreign investors sold a net $67 billion of Treasuries in June, a record and the second consecutive monthly outflow, and sold agency securities, corporate bonds and equities. The US Treasury is looking at much higher borrowing costs as 41 percent of the debt has to be rolled over in the next 2 years.
Jan Hatzius at Goldman Sachs said the Philly Fed’s business outlook survey and the ISM’s monthly manufacturing survey are more insightful on the economy.
Austen Goolsbee said the biggest concern for the US economy is Europe, whose problems are not going away anytime soon.
Only 35 percent of Americans surveyed by Gallup approve of the president’s handling of the economy despite the University of Michigan consumer sentiment index hitting a 6-year high in July.
Gene Steuerle at the Urban Institute says there’s a disconnect between our nation’s health care policies and the simple, unavoidable arithmetic of health care costs.
Read the full article at http://www.bloomberg.com/news/2013-08-16/baum-s-view-on-money.html
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