Rosenberg Daily Soundbites

• Risk aversion trades, which took a brief respite to close out last week, are back on track today; commodities are softer; the FOMC meeting on Wednesday is the critical event of the week
• The University of Michigan Consumer Sentiment index fell to 71.8 in June from 74.3 in May, well below the 74.0 that was expected
• With the yield on the 2-year Greek note around 28%, there is no way that Greece will be able to fund itself during any reasonable time horizon
• The 2-year U.S. Treasury note has just completed its 10th winning week in a row — the longest streak since 1986
• IMF downgrades the global economic outlook