We can't recall a worse week for US economic indicators. While it was only a four-day week, there were a large number of indicators released -- 21 to be exact. As shown below, of the 21 releases, a whopping 18 came in weaker than expected! Just 1 out of the 21 indicators came in stronger than expected. With US economic data completely collapsing this week, and the euro and gold rallying on Friday as US stocks tanked, have we just experienced a key pivot point in which the US starts to underperform the rest of the world again?
No comments:
Post a Comment