Quote of the Day

JP Morgan CEO Jamie Dimon, in this morning’s earnings conference call, sang the same tune we’ve been singing herein for months.

He essentially reported what our weekly assessment of general conditions (the PWA Index) continues to signal; that the economy’s in decent shape and that there’s no reason — in the data — to worry that a recession is anywhere on the near-term horizon.

However, he added, and this should sound very familiar to regular readers,

“If a recession did happen in the short term, the most likely cause would be a breakdown between the U.S. and China”


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