In a day when strong jobs data (Challenger, ADP, Initial Claims all coming in strong or stronger than expected) has been viewed by markets as bad for risk assets as it signals continued economic strength and continued rate hikes by the Fed, we got yet another conflicting economic signal, this time from the latest US trade deficit, which narrowed in November by much more than expected…
The Next American Car Recession Has Already Started…
These should be boom times for Detroit. Unemployment is at a half-century low, gasoline is cheap and auto sales in the U.S. were near record levels last year. Yet American automakers are closing factories, cutting shifts and laying off thousands of workers. The industry is behaving like a recession has arrived. In one segment of the market, it has. Detroit is in the grips of […]