Chart of the Day: Fracking Downgrades

The US economy likely grew at its fastest rate since the start of the expansion in 2009, yet earnings forecasts are now falling at the fastest pace since 2009.  The catalyst: fracking oil prices.

Fracking Downgrades

While all eyes remain on European deflation, don’t be surprised to see US headline inflation post a negative print in the coming quarters. The implications for global yields and asset prices could be significant.