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Good morning and Happy Thanksgiving!
Economic data continues to point to a “muddling” U.S. economy, that is one moving at just a bit faster than stall speed. The job market is so-so. The housing market is so-so. Unfortunately, a muddling economy can stall if it becomes negatively influenced by an internal or external event. Namely, the European sovereign debt crisis. We remain mildly bullish and would look to add to holdings, be they either mutual funds, ETFs or individual securities on pullbacks. That said, the real potential for a contagion of the sovereign debt crisis certainly does worry us and therefore bears close watching.