Macro, Sovereign and Sector Upgrades/Downgrades (Ending 4/15/2011)

Analyst calls - week ending 4/15/2011

*Goldman's Jan Hatzius downgraded real GDP growth to 1.75% from 2.5% (Zero Hedge)

*Goldman's Latest EURUSD Outlook (Zero Hedge)

Moody's cut Ireland's credit rating to Baa3, 1 notch above junk (AP)

Fitch affirms Ireland rating at BBB-plus (MarketWatch)

Goldman Sachs says underweight commodities (Zero Hedge)

Goldman Sachs Cuts View Of Financial Stocks (Dow Jones Newswire)

Citi's US Dollar warning, debt ceiling risks (Zero Hedge)

Goldman Sachs Expects ‘Substantial Pullback’ in Oil Market; Sees $105 Brent Crude (Bloomberg)

Joe LaVorgna (Deutsche Bank) Cuts Q2 GDP Ahead Of Everyone (Zero Hedge)

Moody's downgrades China property sector (Reuters)

Moody’s cuts China’s property outlook (MarketWatch)

Btw, Beijing March New House Prices Plunge 26.7% M/M: Press (MarketNews)

Fitch downgrades China's yuan debt outlook to negative (ChinaPost)

How Would Raising Debt Ceiling Impact U.S. Bond Market? (PBS Video featuring Jamie Dimon, Nouriel Roubini, Nomura Strategists and Ben Bernanke)

Investment Manager Outlooks

"Deja Vu All Over Again" - Jeff Gundlach's (DoubleLine Capital) Latest Set Of Contrarian Observations (report at Zero Hedge)

[Video] Bond Guru (Jeff Gundlach) Bets Against PIMCO's Bill Gross (and Conventional Wisdom) on What Happens After QE2 Ends (Trader Mark at International Business Times)

*John Paulson Cautious On U.S. Real Estate (GuruFocus) he was interviewed by Les Echos in France

Skunked (April 2011 Investment Outlook by Pimco's Bill Gross, pdf)
*Medicare, Medicaid and Social Security now account for 44% of total federal spending and are steadily rising.

*Previous Congresses (and Administrations) have relied on the assumption that we can grow our way out of this onerous debt burden.

*Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates.

Jim Chanos on the markets (CNBC Video)
"I'm a glass half empty kind of guy. (Is that list getting longer?) In the U.S. we're seeing more opportunities now. For the last couple years I've said basically the U.S. was what it was, and we didn't find enormously great short opportunities. But now we've seen more in the states because of valuations, and companies are beginning to disappoint" (Jim Chanos, part of CNBC transcript)

El-Erian's Market Analysis (CNBC Video)

Prepare For The Coming Recession (John Taylor of FX Concepts on CNBC via PragCap)

Mark Mobius (Templeton), George Soros on India's Economy, Equities, Copper (Videos @ my blog)

*This just in: Bank of America To Cut 1,500 Mortgage Origination Jobs (WSJ)

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