Bank of America warns that the U.S. economy could be headed for a recession, citing several worrying situations in manufacturing, the job market and global earnings.

The bank believes investors are too optimistic about rate cuts and not cautious enough about a possible recession.

There are 12 charts showing that the US is on the verge of entering a full-blown recession, including:

▪️ Decline in manufacturing activity
▪️ Decline in manufacturing often coincides with lower earnings
▪️ Global earnings pattern shows imminent decline
▪️ Steeper yield curve often precedes recession
▪️ Oil price
▪️ The job market usually follows manufacturing activity
▪️ Global house prices are falling
▪️ Credit crunch hurts the job market
▪️ Decline in European bank loans
▪️ Weak job market leads to big interest rate cuts
▪️Stocks fell after the last Fed rate hike in inflationary times
▪️ There is still significant potential for the S&P 500 to fall further

Source : https://markets.businessinside....r.com/news/stocks/12

 

markets.businessinsider.com

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"Investors too optimistic on rate cuts and not pessimistic enough on recession," Bank of America's Michael Hartnett said.

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