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Market commentary I have been seeing has had an unusual split: warnings about the collapse of the bond market, as well as imminent recession.
The preliminary report for U.S. Q1 real GDP was released last week, which registered an annualised decline of -1.4%.
Although there are some sectoral issues in the United States (inventory build, over-expansion of trucking), it is unclear that they would be enough to drive businesses to cut hiring.