Bad News Is Good News In US Factory Slowdown
The first of this week's top-tier US data came in short of consensus, which was either bad news or good news, depending on your lens.
If you're the type who's desperate for a Fed pivot, you're pleased with incremental evidence of a decelerating economy. If, on the other hand, you're concerned that the rate hikes the Fed has already delivered are likely to manifest on a lag, pushing the economy into a deep recession, then the same incremental evidence might be seen as foreboding.
Whatever the c
You gotta think the FOMC is on the fence about whether to go with a fourth straight 75bps hike at its next meeting in November, or back off a bit and go with 50bps instead. As has been noted many times by H., days like this in the markets are counter-productive for any investor hoping for fifty.