Rosenberg Daily Soundbites

• Rejoice! The U.S. government can now keep borrowing right through the 2012 election; most government bond yields are lower as risk-aversion trades dominate; the U.S. dollar is up a smidge; gold is firm
• If the GDP data and ISM aren’t bad enough, we also saw the last reading for the University of Michigan sentiment index dip to 63.7 in July
• Very weak, in fact, possibly recessionary ISM
• AA is the new AAA?