[youtube https://www.youtube.com/watch?v=v_kHnMii-wQ&w=560&h=349]
Patrick Ceresna (Big Picture Trading) and Kevin Muir (MacroTourist) every week discuss the week’s action in the markets — always keeping the other’s feet to the fire for bad calls – yet hopefully having some fun while learning a little something in the process.
Last week, Patrick and Kevin welcomed Alastair Williamson (@stockboardasset) on ‘The Market Huddle’ to talk about debunking the 2H19 growth rebound narrative. Williamson provided a variety of charts, making his case that Wall Street is, in fact, utterly wrong about the second-half rebound.
Williamson said world trade volume is rolling over and global central banks’ toolkits are becoming less effective to stabilize global growth. He suggested that China’s latest record credit injection has failed to bottom Global PMIs (something we spoke about last week).
He also made the case that President Trump is deepening the trade war to achieve much lower equity prices so that the Federal Reserve would be more inclined to cut rates and implement QE-4.
Williamson showed an E-mini S&P 500 Futures analog of 2019 versus 2012. He said the index could fall until mid-summer if the tariff situation worsens, which would then force analysts to lower their price targets and EPS estimates, thus debunking 2H growth rebound narrative.
Without further ado, here is Market Huddle Episode 27: Debunking The 2H19 Growth Rebound Narrative.
[youtube https://www.youtube.com/watch?v=v_kHnMii-wQ]
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com
This post has been republished with implied permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.