Weekly Market Pulse: War - What Is It Good For?

2026-03-30 04:30:00 ET

Sentiment about the economy is negative right now, but that isn’t a new development. The University of Michigan consumer sentiment survey is near its all-time worst reading, which was set just a few years ago in 2022. The expectations portion of that survey is currently at levels only seen in the mid-70s near the bottom of the 73/74 bear market, the double-dip recession of 80/81, the first Gulf War in 1990, the 2008 financial crisis, the 2011 Euro crisis, and the inflation surge and bear market of 2022. Consumer sentiment is not just sour but on par with some of the worst economic times of my life. Consumer Confidence (from the Conference Board) improved slightly in February but has been in a downtrend since peaking in 2018. Our sour mood isn’t new, and it isn’t specifically about anything going on right now....

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