The economic data coming out has been to lowest since April 2009, yet the market is up. Yesterday consumer confidence slided to lowest in last two year at 44.5 way off from consensus. The MBA Purchase Applications
Refinance Index - W/W Change con -12.2 %
Composite Index - W/W Change -9.6 %
ADP employment for July was 114000, in August its 91000.
The stock are still up. Economist say we are close to recession. Whatever they say, no doubt US is in recession.
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