MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In
Macro Voices
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The Fed's Tightening Cycle
Yield curve tends to lead by roughly 10 to 12 months, and it's telling you that the recession should be arriving on time. This is the most aggressive tightening cycle since the Volcker years of the early 80s. We now have question marks over the availability of credit in the aftermath of not one but three bank failures last month. And there are these three-year lags in rental inflation, which is still stubbornly high.
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