By Thomas Paulson, Head of Market Insights
As anticipated, March was a strong month for retail sales per the Census Bureau’s Advance Monthly Sales report, and no, it wasn’t all due to pull-forward effects and pre-buying ahead of tariffs as we showed earlier. Yes, there was pull-forward in auto,...
By Thomas Paulson, Head of Market Insights
Yes, the stock market and economy are in a tempest, and investors have been de-risking their portfolios and cutting exposure to cyclical companies and those that have too much debt; that change in preferences favors consumer staples and utility stocks....
By Thomas Paulson, Head of Market Insights
Last Friday, we delivered a presentation to Morgan Stanley’s institutional clients. Our conclusion of the work was that consumer spending had picked up in March following a slow start to the year. However, given Wednesday’s news, what happened in March...
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