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Global Markets Suffer Worst Start In Over 20 Years As 'Soft' Data Stalls, Financial Conditions Tighten
In terms of total wealth destroyed, 2024 has started with the worst record ever as global bond and stock markets saw over $3 trillion wiped away... chart The losses are dominated by global stocks (down around $2 trillion), while bonds are down around $1 trillion (but still up massively from the major inflection point at the start of November)... chart This shift has dramatically changed the trend for financial conditions (which have tightened by the most over the past week since October)... chart And hope is rung out of the economy as 'soft' data starts to catch down to 'hard' data's somber reality... chart ... (full story)
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Pride always comes before destruction.... -Proverbs 16:18
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