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  • Compounding the Problem -- Credit Bubble Bulletin by Doug Noland

    11/30/2003 4:14:02 PM PST · by arete · 22 replies · 226+ views
    PrudentBear.com ^ | 11/28/03 | Doug Noland
    This is an abbreviated Bulletin. The liquidity and speculation-driven U.S. stock market came to life again. For the week, the Dow and S&P500 added about 2%. The Utilities and Morgan Stanley Consumer indices also gained about 2%. Economically sensitive issues outperformed, with the Transports gaining 3% and the Morgan Stanley Cyclical index increasing 4% (up 38% y-t-d). The S&P Homebuilding index jumped 5% this week, increasing y-t-d gains to 98%. The S&P Retail Stores index added 3% this week, with 2003 gains of 44%. The broader market caught fire. The small cap Russell 2000 jumped almost 4%, increasing year-to-date gains...