20 Sep 2010 Corporate-Led Recovery?
Posted at 14:40h in The Friday BriefIs the economy falling into recession or is it merely stalling? The S&P 500 is off its April high by 12% while the rally in the 10-year US Treasury has driven yields to 2.55%, the lowest in 17 months. Yesterday the government’s leading economic indicators showed an increase of .1% in July provides hope that the economy is merely in a stall. But jobs, housing, and even manufacturing which has been a bright spot for the economy were more worrisome as they each declined this week. While the economic numbers were mostly negative this week, there is a bright spot. Intel’s acquisition of security software maker McAfee brings the August total of announced takeovers to more than $175 billion. Acquisitions are on a pace for August to surpass March as the biggest month for deals this year, according to Bloomberg. The month is typically the slowest.