Rosenberg Daily Soundbites

• Instors switch back out of the safe-havens and into more pro-cyclical paper in the wee hours of the morning - equity markets are up anywhere from 1% to 2% across the planet
• the bond bull market is intact
• Canadian GDP - nice headline, shame about the details: The Canadian economy zoomed along at a 3.9% annual rate in Q1; however, the problem is that 80% of that growth came from inventories
• It’s a gas (not!): The good news is that gasoline prices have stopped going up…for now; the bad news is that the damage has already been done