To quote Van Morrison, “Here comes the night.”
Bloomberg’s recession probability over next 12 months is … 100%.
And how about the Conference Board’s Leading index of 10 economic indicators YoY? Third negative read ALWAYS followed by recession.
The Federal Reserve may be forced to pivot. This may be one reason why the Dow is up 565 points today (+1.86%) as recession and pain become ever more likely.
Look at commercial banks deposits. Wonder why liquidity is drying up?
And to paraphrase Van Morrison, Biden/Pelosi/Schumer please go.
And to paraphrase Van Morrison, Biden/Pelosi/Schumer please go. Powell too.
Need to hear Them’s “Gloria” for the weekend.
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