The Congressional Budget Office sees a 1.9% decline in US GDP this year and growth of 4.1% in 2010 and 2011. Sounds optimistic on all fronts to me, especially the 2010 forecast. Happy days are here again, if these guys have it right.
US Equities are easing as the afternoon wears on as are oil prices. Looks like the reflation trade is taking a holiday today. EUR/USD is holding in the 1.3560s. A close below 1.3525 would spook a few of the longs.
