Highlights
• Global markets are playing catch-up to yesterday’s Fed-inspired rally, with one exception — China
• Let’s assess the facts… the +4.9% Q3 real GDP growth print does not mean that a recession can’t follow
• CCC spreads are the canary in the coal mine, just as they were back in 2000 and 2007
• Homebuilders are feeling the impact of higher rates, as the group approaches an official bear market
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