Global equities peak came in January 2018. At the start, investment banks said it was just volatility.
Now we find out the economy has slowed down meaningfully.
US stocks did better because the local economy hanged on. Now US is also falling hard.
They are asking why, again? pic.twitter.com/JzzpPUx22a
— Tiho Brkan (@TihoBrkan) October 29, 2018
It’s hard to look at these car and home buying intention charts from the UMich survey and not draw the conclusion that the U.S. consumer is d-o-n-e for the cycle. No wonder the Trump tweet machine has been devoid of anything ‘macro’ of late. pic.twitter.com/CHh8bHcnb4
— David Rosenberg (@EconguyRosie) October 29, 2018
The percentage of asset classes that has generated positive returns this year is only 20 percent, a share that has never been so low outside of 1970s stagflation episodes and the Global Financial Crisis. https://t.co/ILTAwPstiu pic.twitter.com/9XmgSFfXYe
— Jesse Felder (@jessefelder) October 28, 2018
— M/I_Investments (@MI_Investments) October 29, 2018
My estimate of underlying private sector GDP showed a 0.2% SAAR contraction in Q3. No growth in capex and negatives for res and non res construction. Consumer only did well via savings rate drawdown. Very soft report. Fed may have to pause, after all .
— David Rosenberg (@EconguyRosie) October 29, 2018
"buy Apple iPhone" search phrase is very weak … $AAPL pic.twitter.com/IiU0XgIFFj
— Alastair Williamson (@StockBoardAsset) October 29, 2018
Traders: "We need intervention with a Fed put! 'Cause heaven help us if we break below valuations never seen in history before last November!" pic.twitter.com/4OMuVuk2ad
— John P. Hussman (@hussmanjp) October 29, 2018