We were expecting a significant drop in Philly Fed future activity expectations @quillintell – this certainly hits the mark. Hasn't been this low since 1979. And the Fed is just getting started. Industrial Recession is likely in full swing. pic.twitter.com/D9B40vp5bR
— Andrew Sinclair, CFA (@CT_Osprey) July 21, 2022
Third grade logic dictates this won't as well as last time.
Bulls, the COVID bill is due. pic.twitter.com/oYQZsjVLav
— Mac10 (@SuburbanDrone) July 21, 2022
DXY ripping. pic.twitter.com/Y8CgLf0q3b
— Michael J. Kramer (@MichaelMOTTCM) July 21, 2022
US jobless claims continue to hint at stronger headwinds for the labor market. New filings for unemployment benefits rose to an 8-month high. Claims are still low historically speaking, but the persistent uptrend is starting to looking worrisome: pic.twitter.com/kRfQd5DbvG
— James Picerno (@jpicerno) July 21, 2022
The Dollar is strengthening massively. Up until four weeks ago, this was mostly against the G10 (black), but now it's also against EM (blue). Markets don't like the combination of looming recession & aggressive central bank hikes. That's driving a flight to safety to the Dollar. pic.twitter.com/GVDibGQgXr
— Robin Brooks (@RobinBrooksIIF) July 21, 2022
Are we witnessing the beginning of an earnings contraction, or is the rate of growth merely slowing? The answer will determine whether the current 25% drawdown will be the end of this valuation reset, or the start of a full-fledged recession bear market. pic.twitter.com/fWUpQFwmnl
— Jurrien Timmer (@TimmerFidelity) July 21, 2022
2008 all over again from a housing affordability standpoint.
I’m sure it will end different this time 😄 pic.twitter.com/qoEF8fHAnK
— QE Infinity (@StealthQE4) July 20, 2022