Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
“The banking sector stress of the past month silenced such talk for a while. And, in more recent days, the early batch of data for March is beginning to flash some clearer signs of underlying cooling, especially in the U.S.. Prior to payrolls, some of the most notable signs of softer activity this week included: The ISM releases took a much bigger step down last month than expected, with both manufacturing and services at levels bordering on respective recession terrain.
Mr. Hartnett also presented 10 charts he believes predict an imminent U.S. recession. The most pertinent chart shows how ISM manufacturing new orders data predict a sharp fall in S&P 500 profit growth.
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