Rosenberg Soundbites

Today's email:

• Mixed is the only way to yet again describe how the day has started off; bonds are trading defensively; U.S. dollar is a tad softer; on the global data front, the news could definitely have been better; rate hike expectations have started to recede in several countries
• U.S. weekly chain store sales data do not appear to be living up to their advanced billing
• Earnings forecasts coming down
• U.S. manufacturing segments: Only transportation equipment is seeing second-derivative improvement while tech orders now contracting on YoY basis