“We continue to expect housing may add to GDP growth in 2014 and for the next several years as the market normalizes following the severe housing bust of 2005-2010.”

“The yield curve has a perfect record in signaling recessions over the past 50 years.”

“Over the past week, the LPL Financial Current Conditions Index (CCI) rose eight points to 265.”

“A change of seasons should be noted by municipal investors, as a seasonal increase in new issuance may be a catalyst to lower returns after a strong 2014.”

“The key now for the Fed, as it deliberates when to begin to raise rates, is to gauge how quickly the output gap is likely to close.”

“Last week we discussed why buying European stocks now, following the recent stimulus announced by the ECB, is very different from buying U.S. stocks during periods of Fed stimulus in recent years.”

“Over the past week, the LPL Financial Current Conditions Index (CCI) fell nine points, but it remains in the range of recent post-recession highs.”

“No changes.”