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Strategies & Market Trends : John Pitera's Market Laboratory

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To: All Mtn Ski who wrote (4947)10/23/2001 3:31:19 PM
From: John Pitera  Read Replies (3) of 33421
 
No -g- the CRB all the way down to 1975 lows....WOW.

The CRB index has edged 0.10 higher on the day as the index continues on a sharp longer term plunge and stands just above the trough in Feb '99. Prior to that you have to travel all the way back to 1975 to find a lower level on the commodity index. The implication is the lack of price pressure not only on commodities but also industrial goods given the absence of business investment and the year-long recession the pull back has created for the manufacturing sector. Eyes are off the inflation front for the near-term as massive fiscal and monetary stimulus brings a watchful eye for the longer term outlook.
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