Jun 29, 2022
(6/29/22) Poorer than expected economic data triggered a market
sell-off on Tuesday: The Richmond Fed Survey reported a big drop in
all components, suggesting a recession is becoming a much higher
probability. Similarly, the Philly Fed Manufacturing Index, the
Dallas Fed indicators show pervasive economic slowing, thanks to
tighter monetary policy, higher inflation, and higher interest
rates. The Census Board's Consumer Confidence survey revealed big
declines in street-level sentiment. Markets didn't like that, and
fell to retest support at the previous lows of May. The hope now is
that as June comes to an end, portfolio rebalancing and shuffling
will provide a bit of a lift to markets.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton
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