SPY - 10 Recent Signs The Economy Is Cooling

2024-06-04 11:13:37 ET

Summary

• The market continues to be near recent highs despite a slight recent pullback in equities.
• However, the Federal Reserve's most aggressive monetary stance since the days of Paul Volcker seems to be finally impacting the economy significantly.
• In the paragraphs below, we lay out 10 recent signs economic activity is cooling, and perhaps substantially so, as well as what this portends for the markets.

I have been bearish on the economy for several quarters now, arguing the most likely economic scenarios by the end of 2024 are either recession or a significant bout of Stagflation . Obviously, neither of those scenarios unfolding would be good for stocks....

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