Can't go into much specifics, but I have been seen some absurd weakness in manufacturing raw materials demand lately. We're talking order cancellations galore, people calling out of the blue asking if I'm seeing soft markets too, etc...
Maybe the best best anecdote was walking into a potential customer's office, whom I had never met, and the first thing he does is whip out a regional bank's presentation about why the recent yield curve inversion will lead to a "soft landing" and not a recession. The whole spiel was completely unprompted and all I could keep thinking was that this what a good reason to be bearish.
Throw in the %age of IPOs that feature unprofitable companies, real estate being epically soggy, international trade volumes coming down, German manufacturing being awfully weak, the bizarre Iran oil export flex, more and more headlines wondering if the bull market will last forever...
As they say, don't fight the Fed. Yet something tells me the Bulls are about to be taken to pound town.
Am I being an altermedia perma-bear or is there something to this?
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