If yesterday’s month-end could be categorized as “mean reversion of the mean reversion,” today’s performance displayed an overextension of that very same mean reversion. In other words, stocks crumpled. Two economic numbers--- weekly jobless claims and manufacturing ISM--- stirred up anxiety that the goldilocks/soft landing scenario has quickly gone south. The manufacturing ISM dropped to 46.8 (2 full points below Street consensus). And all the critical demand/growth indicators slumped, includi…
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