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Recession-Hard/Soft Landing

A Growing Monetary Policy Divergence Between Australia & Canada…
On The Mixed Signals From Chinese Trade Data…
A Dovish RBA Rate Hike A…
US SLOOS: Lending Conditions Tighten Further In Q3…
Is Long Yen A Bad Idea? Is…
The Eurozone's Disinflationary Impulse Is Broadening…
Goldilocks? Goldilocks…
US ISM: A Slowdown In Service Sector Activity…

We are approaching another phase transition from boom to bust. Stocks should rally into year-end, but investors should look to reduce equity exposure early next year while increasing bond exposure.

Global Manufacturing PMI Slips Deeper Into Contraction…