Two consecutive days of "risk off" -- that's closer to what we might expect for September. The Dow Jones Industrial Average
Speaking of unwelcome fundamental indicators, The Economist's Buttonwood column flagged some research from Wainwright Economics today that highlights the widening in the corporate bond spread -- the premium investors require over the risk-free rate to lend money to companies. According to David Ranson of Wainwright, the increase in the spread is typically an indicator of a global slowdown.
As Buttonwood points out, "The current move in spreads is about one percentage point; previous shifts have been two points or more so this is not a decisive signal, yet." However, if one believes (as I do) that companies will be lowering their earnings guidance over the next few months (as Caterpillar
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