Free Republic

We expect stronger 3.5% U.S. growth in the second half and a market shift from bonds to stocks as auto production picks up, growth in emerging markets remains strong and near-term concerns get resolved -- about QE2 ending, the debt limit increase, a China hard landing and a quick Greek default. (We think they’ll all be resolved favorably, but even unfavorable outcomes are better than the current uncertainty.)    This year’s soft patch has been exaggerated by the emphasis on the auto sector in the data including ISM, other diffusion indexes, auto sales and industrial production. Jobless claims jumped due to the unique automatic...