Soft landing for the US economy? It is looking less and less likely. The bond market (10-year Treasury yield) just shed -14.1 basis points. As I always told my investments students, any 10 basis point shift in the 10-year Treasury yield is significant.
Let’s start wit the US business leaders survey of current conditions. It just crashed to -21.4
Then we have US industrial production, down -0.7% in December. And is up only 1.65% year-over-year as M2 Money growth stalls.
Capacity Utilization plunged more than expected to 78.7% (79.5% exp).
Biden claiming the US economy is strong is pure Fantasy Island.
Today, Jean Pierre annouced that Biden’s economic plans are working.