From January’s Macro Charts: “Synchronized global growth is the buzzword as markets keep accelerating from one record to another. The data points suggest a different story. While US tax cuts will provide a modest bump in growth and in earnings they appear to do little on the structural or fundamental front. Rather the story is debt and more debt. Not only the consumer, but also the US government.”
Well, in the 2 weeks since we’ve seen more debt expansion coming and the macro charts leave wanting a clear sign of organically accelerating growth. Sure, we can create GDP growth with debt but Rising Debt + Rising Rates don’t make for a good combination.
From our perspective we are in a late market cycle environment setting up for the next recession and the current phase of excess will lead to a deeper downturn.
We’re collecting macro data charts highlighting potential signs of a coming macro turn. Below is a collection of some of the latest data points we find of interest.
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Updated February 21, 2018
Categories: Macro Corner