We had expected a rebound. Gasoline prices are down a lot, so that is good news, but they are still very high and that may be what is weighing on people's minds at this point. |
We have a housing valuation issue. The time is now for raising interest rates and defusing these problems potentially by slowing down the economy a bit and avoiding a big necessary increase later and a consequential recession. |
We improved in May, but it looked too good, so we may have some payback and that could move the market. The possibility of a record deficit would be a shock. It's a negative risk for the equity market. |