Saturday, May 28, 2005

Weekly commentary

First quarter U.S. GDP was revised upward last week from +3.1% to +3.6%. This marks seven consecutive quarters of 3%-plus GDP growth, the best such run since '83-'86. And yet inflation is well under control. The stock market loves growth without inflation, and that's exactly what we have. This is why I think this one-month-old rally has the potential to go much farther.

No comments: