So, the Michigan swurvey of consumer sentiment is down. Perhaps the average person knows something that the "green shoots" folks don't, or maybe it's that average people pay more attention to the unemployment rate, which is a lagging indicator.
One interesting thing is that U.S. trade deficit in May fell to its lowest level in a decade, and it was falling imports, along with an increase in exports, that appears to have driven this.
The implication here, assuming that this is not a 1 month blip in the stats, is that the US is lagging the rest of the world in economic recovery, which is not what it has been historically.
It does seem that investors are heading for safety, which drove bond prices up, and bond yields down.
These concerns have led to the biggest weekly drop in oil prices in 6 months, and a strengthening of the Yen and dollar, as a result of demand and safety concern.
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