McElligott Warns Of ‘Inconvenient Truth’

Over the past several weeks, I've editorialized breathlessly about the potential perils ahead for corporate America, as profit growth looks set to turn negative. That's a euphemistic way of saying the long-awaited US earnings recession is nearly upon us, and this time around, you needn't look to any famously bearish top-down strategists to make the case. Consensus expects YoY earnings growth to flatline, then turn modestly negative in Q1 and Q2, before rebounding sharply in the back half of th