Recession Thumbprints on the Sales and Production Numbers
Only in the first quarter of 1978 did we fail to have a recession with this combination of weakness in sales volumes and manufacturing activity in the first month of a quarter
Highlights
A strange new world — stocks rally on recessionary data and bonds sell off on deflation
Fiscal stimulus and credit are keeping the U.S. economy afloat (not sustainable)
Looking at index turnover and performance… a case for passive investing
Emerging Markets look attractive from a valuation standpoint
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