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The problem in one chart
More $debt is needed to generate $1 of GDP Source: zerohedge
There is now a 70% chance of a 25 bps interest rate cut at this month's FOMC meeting 🚨
Source: Barchart
US Economic Surprises are starting to roll out.
See below yesterday macro numbers - majority of them missed estimates (hard & soft data) *ADP Payrolls: Miss 🔴 *S&P Services PMI: Miss 🔴 *ISM Services PMI: Miss 🔴 *ISM Services Employment: Miss 🔴 *Factory Orders: Miss 🔴 Source: Jessie Cohen
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