Rosenberg soundbites

• The froth is coming out of the commodity markets and we are seeing increasing signs of a softening in global growth; the long bond yield is coming down and few are noticing this critical development; a whole host of international chaos is developing while the U.S. dollar is plummeting
• Investors Intelligence poll shows the bull-bear spread at 38.4%, which is not far away from the 42% reading back at the market peak in October 2007
  
• Unexpected slide: The service sector ISM index came out yesterday for April and threw a splash of cold water on the consensus view that the U.S. economy is re-accelerating heading into the second quarter
• Manufacturing also slowing down
• Many U.S. labour market indicators did not fare that well in April

---DR email today