Bloomberg Wall Street Week - August 11th, 2023
Wall Street Week
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The Future of the Stock Market
Even before Silicon Valley bank failing in March, the Fed's sleues senior loan officer opinion survey showed that credit conditions have tightened into recession territory. The old line of credit is the lifeblood of an economy; as it starts to feed through with long and variable legs, it ultimately does start to crimp economic growth via that investment cycle. We haven't seen it in earnest yet, but to suggest that this time is different and we're not going to is probably to complacent an assumption.
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