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US Factory Recession Worsens, Morphs Into Stagflation
Widgets. They don't make 'em like they used to. They don't make 'em where they used to either.
US m
I suspect we will see a bond rally later this week….
Looking at the S&P1500, if we separate the industries into “goods” vs “services”, I get that 40% of market cap is “goods” and 60% is “services”. I’m using “goods” broadly, basically any physical output from machinery to oil, pharmaceuticals to orange juice. Of course many of those goods are not made in the US, while almost all of the services are.