<ul><li>Order book balance -35 vs -26 prior</li><li>Output balance for the past three months -17 vs -6</li><li>Output price expectations +11 vs +7 prior</li>&
Market forecasts are wrong. If the Fed will cut rates so aggressively as expected, it will only be in the event of a recession. In a soft landing, one should expect 3-4 acts of monetary expansion, not
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