Canary in the Mine: Car Wreck Portends November Retail Crash

November dive followed by a return to the rolling-over trend.

Christophe Barraud: confirms my view that, at best, 4Q GDP growth will slow dramatically compared to 3Q while another GDP contraction still looks possible at this stage. The fact is the rapid spread of Covid-19 will force more states to implement restrictive measures before quarter-end. As a reminder, the biggest contributor to U.S. GDP, namely California, is on the verge of implementing another lockdown with ICU beds already close to maximum capacity.”

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