Listening To Markets
• Stock markets have plunged. • Bond yields have plunged.
• Commodities have plunged.
All this increases the risk of recession.

It’s OK Till It’s Not
Between when Fed tightening starts and when it really
impacts, the economy can be OK. For example, the S&P rallied +40% over two years (2005 to 2007), peaking eight weeks before the Great Recession started. Up until its recent peak three weeks ago, the stock market had rallied +60% over less than two years.

From Ed Hyman Wall Streets number one economist for 40 years.