Art Cashin is a little concerned about the drop in commercial paper issuance and the M3 contraction. Those may me signs of the beginning of an economic contraction:
"But I'm looking at two other numbers that kind of surprised me: commercial paper issuance dropped dramatically in the recent week and M3* seems to be contracting."
"We're going to watch to see if that's a sign that the economy is starting to pull back a little here."
Art Cashin comments were made just after the release of the Employment Report.
8 comments:
M3? The government stopped reporting M3 in 2006.
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