David Rosenberg: Bear market and recession calls remain in place despite the rally — via financialpost
I really don’t like what I see: the economy is weaker than generally perceived in the media and by Wall Street commentary while the equity market has been breathing the fumes of FOMO complacency and speculative fervour.
All those prior worries of the ongoing Fed tightening campaign, the Russia-Ukraine war, the U.S.-China economic conflict, the lack of a growth impulse from the short-lived China reopening trade, elevated recession risks and aAnd while market breadth still isn’t great, it has begun to improve. Although theof 0.6 per cent last week , closing below its 10-day trendline, the small-cap Russell 2000 climbed 1.5 per cent, closing in on 2023 highs as well.
More American consumers also are falling behind on their loan payments and the trend in business bankruptcies is on the rise, though not yet reflected in tight credit spreads. The I’m sure if things were as “Goldilocks” as the narrative suggests, we wouldn’t have seen billed business, a key measure of American Express Co. spending growth, get cut in half to an eight-per-cent year-over-year trend in Q2 from 16 per cent growth in the first quarter and below the growth analysts had expected . The company is the poster child for the leverage that has been supporting the economy of late, even as the lagged effects of the prior fiscal stimulus have been fading.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bear Trashes Woman's Toyota Corolla After Locking Itself Inside | CarscoopsA bear in Lake Tahoe clearly didn't like being trapped in a car and tore the cabin apart car auto cars
Read more »
This pair of abandoned mountain lion cubs now call Big Bear Alpine Zoo homeHazel and Holly were rescued this winter after each was found on their own in northern California.
Read more »
Woman dies after grizzly bear encounter near Yellowstone National ParkA woman was found dead in Montana on Saturday after coming into contact with a grizzly bear on a trail west of Yellowstone National Park.
Read more »
Woman found dead after suspected bear encounter near Yellowstone, wildlife officials sayA woman was found dead after an apparent bear encounter near Yellowstone National Park, according to Montana Fish, Wildlife & Parks.
Read more »
Woman found dead after grizzly bear encounter near Yellowstone National ParkThe Montana Department of Fish, Wildlife and Parks said in a statement on Sunday that her body was found near grizzly bear tracks.
Read more »