Lack of supply? Lack of demand? Tough to say, but what is clear is that the consumer is not borrowing, either by choice or necessity. Consumer credit declined another $14.8 bln in September.
Consumer confidence has been weak, credit has been tight and employment softening…Not a good formula for a sustained economic rebound.
EUR/USD trades with a heavy tone, now at 1.4835 with an hour left until stocks and bonds call it a day.
