You know it's bad when even the traditional 'pumpers' are getting anxious. While obviously counched in its own "well maybe that's not totally terrible" spin, reading the following from Charles Schwab suggests Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop were all struggling to defend any bullish position and perhaps more desperate to CYA in case reality doesn't match their hard-sold perception...
Via Schwab.com,
How long?
Authored by Mike Shedlock via MishTalk.com,
Magazine covers tend to coincide with extreme sentiment. The Economist is particularly good at offering contrarian articles.
In December of 2016, The Economist nailed the peak in the US dollar with its “Mighty Dollar” issue.
Authored by David Stockman via The Daily Reckoning,
The American economy has been mangled by decades of assault on capitalist prosperity.
Growth is now dying because the Federal Reserve’s hit on corporate America that has strip-mined its balance sheets to feed the halls of Wall Street. Trillions of dollars have been thrown into financial engineering (stock buybacks, M&A deals and leveraged recaps) while neglecting real investment and productivity in Flyover America.
Americans who are hoping to avoid the shackles of student debt and proceed straight from high school into the workforce have more options for well-paid gainful employment than they might think. Even as the ROI on college degrees continues to decline, employers in certain blue-collar industries are struggling to fill management jobs that pay as much, or more, than jobs that require a college degree.
After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece. Wednesday's FOMC will be the main event, with the Fed expected to hike 25bp (see full Goldman preview here), while the BOJ, BOE and SNB all remain on hold.
Courtesy of BofA, here is the breakdown of key events: