Stocks & Bond Yields Slump As ‘Soft Landing’ Story Crashes
January 18, 2023 at 16:01 PM EST
This morning’s smorgasbord of macro data was not pretty for the ‘soft landing’ crowd as retail sales plunged, industrial production puked, PPI fell (deflationary?), and capacity utilization collapsed… Source: Bloomberg The economic weakness prompted a dovish response by the STIRs market as the terminal rate expectation dropped below 4.90% and expectations for H2 2023 rate-cuts […] Source
