Wall Street’s fervent hopes and prayers for rate-cut ammo were not fulfilled.
The phenomenon has reached historically huge proportions in the Everything Bubble era. But it comes in cycles – with a big impact on the real economy.
Carmageddon for cars. But big equipment is hot and gets pricier.
After truck manufacturers eat up their backlogs, then what?
Bank stocks crushed by negative interest rates, broader market goes nowhere in 4 years despite BOJ’s equity purchases.
But 8 markets show double-digit increases.
Apocalypse not now.
OK, so we have a phenomenon here that has taken on historically huge proportions in the era of the Everything Bubble.
They’re engaged in a highly competitive, saturated market, dominated by finicky Americans who demand top quality, but who drive their vehicles less.
The inflation index the Fed anointed as its yardstick booked two big jumps in a row: May near the top of the range since 2010; April, third largest jump since 2010.