4 Reasons One Bear Hasn’t Turned Bullish

For quite some time now, one bank's leading earnings indicators have tipped a marked deceleration in corporate profit growth. It's actually not just one bank's indicators. Several sell-side EPS models suggest consensus is too sanguine about the likely depth and duration of the current profit contraction. As a quick reminder: Corporate earnings in America are seen falling 9% YoY for Q1, 6% for Q2, then inflecting for the better after that. A pair of Morgan Stanley indicators which map very wel