The LEI (Leading Economic Index) data from yesterday supports out call for a recession in the not-too-distant future. Except for two months during the worst of the pandemic, this number hasn’t been this low since 2009!
The negative news out of Taiwan Semiconductor (TSM) is raising even more serious questions about global economic growth. If the SMH (semiconductor ETF) breaks below a key support level, these concerns will become even bigger ones for this all-important leading indicator for the economy (and the stock market).
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