A Solid Yearend for the U.S. Economy

Strong readings on Chicago manufacturing activity, existing home sales, and consumer confidence give more reason to expect a soft landing

All of the Dec. 28 U.S. reports have contributed positively to the economic outlook as we close out 2006, and have delivered a few hard body blows to the hard-landing camp. The bond market will remain fixated on downside risk as we enter the new year, but today's reports put topspin on the outlooks for factories, housing, the consumer, and the labor market.

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