Recession-Hard/Soft Landing
Falling Corporate Profits Will Weigh On Chinese Stocks…
Shrinking M3 Money Supply Indicates ECB Policy Is Tight…
American Consumers’ Inflation Expectations Unexpectedly Tick Up…
Navigating By The Stars…
China removed checks and balances in its political system to deal with a very dangerous economic transition. The transition is going badly, yet investors cannot rely on checks and balances to correct or prevent policy mistakes. The Taiwanese election is a looming bellwether.
US Durable Goods Orders Disappoint In July…
Philly Fed Nonmanufacturing Index Relapses…
In Defense Of The Yuan
In…
Investors should prepare for an equity market pullback this fall, prefer Treasuries over stocks, and US defensives over cyclicals. A pullback could also morph into another bear market given that monetary policy is tight, policy uncertainty will spike, global growth is slowing, and geopolitical risks are still high.
Dissipating Pipeline Pressures In Germany…