Weakness in Corporate Earnings Starts to Show
Moreover, a slew of companies have announced job cuts in recent days
Highlights
• A slew of job cuts, weak earnings and a global rise in yields are dragging risk assets lower this morning
• The greenback continues to strengthen amid unrest in the Middle East
• American consumers’ “resilience” has been financed by an unparalleled savings drawdown
• A deeper read of the subcomponents shows the September inflation report had significant pockets of deflation
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