MacroVoices #376 Tian Yang: When the Recession Becomes Obvious
Macro Voices
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The End of the Bear Market Rally
The final missing piece has been the initial claims and the continuing claims data. Normally it takes a 20% rally off the lows for these indicators to align with recession. And given the big data revisions that occurred last month, it's now pretty unequivocal that the labor market data in terms of the leading parts are all signaling kind of stress picking up.
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