U.S. Economy Weaker Than It Appears

A rare situation of the U.S. stock market hitting record highs with the Financials nearly in correction mode.

Key Takeaways

• Stocks Roll On Past Another Doubtful Iran Deal: Global equity markets, for the most part, are still in rally mode (the MSCI world index hitting a fresh record high today), though the response to yet another of these announcements of a preliminary U.S.-Iran peace deal (a 60-day extension of the ceasefire) has been rather muted (oh, and more “discussion” over the future of Tehran’s nuclear program, which we all know it will never abandon).