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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, as equity prices have consolidated recently, we weigh in on whether or not this may be a good thing by taking a look at breadth readings through the 20-DMA and why emerging markets could be a sign of optimism. With one of our favorite leading recessionary indicators releasing today, the Conference Board’s Leading Economic Indicator, we give our thoughts on the possibility of a recession. Next, we turn to today’s flash Markit PMI readings for the US. Then we provide an updated look at our Five Fed Manufacturing Composite with the addition of Kansas City Fed data which did not help to show a positive picture. We finish tonight’s Closer with a look at this week’s EIA data.
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