Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — Business Revenues Too Strong For A First-Half Official Recession: The need to reverse growing negative pressures on U.S. corporate profit margins may suggest a necessary reset in business hiring and investment that typically triggers recessions.
  
• Global Market View — In The Race For Global Manufacturing Supremacy, America Is Slipping Behind: Recent legislation attempts to bolster the manufacturing shortcomings of the U.S. and jumpstart a manufacturing comeback.
  
• Thought of the Week — After July Rally, Investor Sentiment Remains In Bearish Zone: Certain indicators have recently shown signs of improvement, sending mixed signals.​