This video from CNBC’s “Fast Money” is a good discussion of the current environment. Clearly, there is a lot of fear in the air with the disappointing ISM Manufacturing readings yesterday, which drove stocks. That angst looks like it may continue as we head into the trading day, S&P 500 Futures are pointing to a weak opening on the same familiar issues – potential impeachment news, Brexit problems, China Trade War and fear of weaker economic data.
The main point we want to convey is the weak data should not be a reason to sell because we already know the economy is slow – it is why we keep talking about the market and sector playbook AFTER you emerge from a “mini-recession” slowdown. The poor data simply confirms what we already know and reflected in the 10-year U.S. Treasury yield drop from 3.25% to 1.62% this morning. We expect volatility to be with us until some of the previously mentioned issues are resolved, but believe any weakness should prove temporar
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