A Global Perspective

Contrary to the signals of many an economic forecasting model and indicator last year, no hard or soft landing of the US economy materialized. The models misfired because they lack a global perspective to account for the impacts on the US economy of global phenomena like the Covid-19 pandemic. Today, we take the pulse of the global economy, which we expect to improve this year as central banks around the world start easing. Global manufacturing and service business activity are already on the upswing. … Also: Joe provides a mid-reporting-season update on the S&P 500 companies’ earnings, revenue, and margin results so far, with and without the MegaCap-8 companies.