At The Margins

There's good news and bad news on margins. The bad news is, all three key tailwinds which helped corporate America more than double profitability over the past 30 years are waning and could turn into headwinds. I discussed that at some length here. The good news is, profitability has likely stabilized in the near-term after falling in five of the last six quarters. You could easily argue that the margin compression witnessed from the peaks in Q2 2021 is actually healthy. Like so many other pa

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