Why Walmart Is a Classic Contra-Cyclical Indicator
A huge beneficiary of a slower consumer spending environment and now is gaining ground from wealthy shoppers, who themselves are trading down
Highlights
Consumer frugality remains front and center in retailer reports
Supply-demand mix in China means more deflation ahead
Cyclical prices in the CPI are falling
It is time for the Bank of Canada to cut rates
Keep reading with a 7-day free trial
Subscribe to Early Morning with Dave to keep reading this post and get 7 days of free access to the full post archives.