‘Reading The News Would Suggest The US Is Already In Recession’: SocGen

If recession fears weren't acute enough headed into this week, the first contractionary ISM manufacturing print in three years served to spook markets further on Tuesday. The 49.1 reading for August missed even the most pessimistic estimate from 65 economists surveyed (the range was 49.5-52.5) and new orders fell to 47.2, the lowest in seven years. One of the most pressing risks at the current juncture is that incessant recession banter contributes to the self-fulfilling prophecy that's got Ma