Last week, I wrote a post asking “Are we in a recession?” Well, the official numbers are out and all I will say is that we have two negative quarters of real GDP in a row:
People will be very caught up on whether to or not this means recession but, remember, none of this data matters to the market.
The market is forward looking. What matters is next quarter and the quarters thereafter. We will soon have some early estimates for Q3 to take a look at, which is going to get very interesting if we see yet another quarter of negative growth.
Well said - the market doesn’t care