MBCC TH 16th May'24 - "Day by day, US economy is showing signs of rolling over, market rejoicing but will be short lived as there is NO cut coming!"

Yesterday was a brutal squeeze and the market has made up all of the 5-6% losses it incurred during April as though it never happened. The sheer scale of these moves shows how uncertain this is.

Day by day we get PMI, ISM, Manufacturing Production, Industrial Production, Retail Sales…fiscal juice has run out, slowdown has started. Like in 2008, you ignore it until YOU CANNOT!