JPMORGAN: “Global capex growth has slowed substantially from a six-year high in 2017 to a near-stall .. It likely also is a contributing factor in the more recent pullback in job growth.”

2. JPMORGAN: “Unlike the 2015-16 episode, .. the stall in profits over the past year has come primarily from a slide in margins,” contracting 7% in the year through 2Q19 — on par with the earnings recession of 2016.” pic.twitter.com/xNwpUoTYZn

— Carl Quintanilla (@carlquintanilla) September 27, 2019