>   
>   (email exchange)
>   
>   On May 16, 2013 8:31 AM, wrote:
>   
>   Weak data and lower CPI, bond positive
>   

Yes

Very bad news
Confirming my fears

>   
>   PHILLY FED AWFUL -5.2 VS +2 EXPECTED
>   

:(

Credit accelerator going into reverse?
Too small deficit to get larger the ugly way?