The early 2023 rally was always too good to be true. That’s because the myopic focus on moderating inflation needs to give way to a broader view of the looming recession which should have investors hitting the sell button in earnest once again. Not just a temporary pause like we saw Wednesday and Thursday.
We need to take a deeper dive on this conflict between investors focused on inflation data versus those looking at the overall economic picture. You know that I stand with the latter group which is why the bearish drum beat is only growing louder in my ears.
