dismal guidance from Target – which warned that inflation was crushing margins – confirmed what Walmart said yesterday, namely that the US consumer is running on fumes. An 11% plunge in the latest weekly mortgage applications only reaffirmed that a hard-landing is inevitable and just a matter of time.
https://www.zerohedge.com/markets/futures-slide-after-dismal-target-earnings-plunging-mortgage-apps
h/t CharlieFoxtrot
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