The Empire Strikes Out! Empire State Manufacturing Survey Collapses In August (-31.3), Worst Since Covid Shutdown And Great Recession – Confounded Interest – Anthony B. Sanders

The Empire Strikes Out!

The US Empire State Manufacturing Survey General Business Conditions, that is. It just crashed and burned (-31.3) in August, the lowest reading since The Great Covid Shutdown and before that The Great Recession.

The inverted US Treasury yield curve (10Y-2Y) is beginning to make sense.