Payrolls shrank again in June for the sixth consecutive month, this time, by about another 62000 jobs.  Couple that with the market now entering official “Bear” territory and looks like we’re in for some real dog days this summer.  Is it all doom and gloom?  That depends on who’s talking.  In the short term it most certainly is though the Fed is expected to be more bullish about prospects going into the new year (not to mention a new presidency).

In a recent Duke University survey of CFO’s the highest priority worries were 1) consumer demand; 2) cost of labor; 3) cost of fuel; 4) interest rates; 5) cost of health care.  Interestingly, European and Asian business leaders were much more optimistic.