the higher the stock market goes – the greater the deceleration of the real economy
— Alastair Williamson (@StockBoardAsset) July 10, 2019
Powell used the words "uncertainties" and "risk" a combined six times in a pretty short testimony. He may start with 25 bps at month-end, but the funds rate will finish the cycle at zero again. Yields will melt out the curve.
— David Rosenberg (@EconguyRosie) July 10, 2019
US CEO Confidence released yesterday was weak again, Q1 was unchanged at 42 and attracted little attention. But readings this weak only normally immediately precede recession – especially when they persist (red line is 3 qtr mav). Only false reading was the LTCM/Russian crisis. pic.twitter.com/miRnQd15Qu
— Albert Edwards (@albertedwards99) July 10, 2019
The New York Fed's recession indicator is now at its highest since 2008. pic.twitter.com/l5RG8Gm8RY
— Tracy Alloway (@tracyalloway) July 9, 2019
From RISK-FREE INTEREST to INTEREST-FREE RISK.
How The Central Bank Put and Complacent Desperate Search for Yield created global synchronous too-big-to-fail bubbles. Brace for more, not less, Monetary & Fiscal.
Anti-bubble. @DiMartinoBooth @jessefelder @dlacalle_IA @realvision t.co/S01WTQkRek
— Diego Parrilla (@ParrillaDiego) July 10, 2019