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The news headlines explained the sudden jump in the S&P futures this morning by stating that "recession fears had faded." Just like that. Overnight. I guess the fact that the housing starts report showed a 9% sequential drop in housing starts last month and a year-over-year 10% plunge means that the housing market is no longer considered part of the economy.
That report was followed by a highly negative March consumer confidence report, which included that largest drop in the "present situation" index since 2008. What's stunning about this