US Macro Data Crashes Most In 7 Years – What Happens Next?

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The last week or so has seen both ‘hard’ real economic data and ‘soft’ survey data disappoint notably.

 

This has sent the Citi Macro Surprise Index plunging to 5-month lows with its biggest drop since 2010.

 

The question is – what happens to the stock market next?

Of course this is no surprise to bond traders…