What Does The 60% Fall In Luxury Goods Sales Mean For Stocks?

What Does The 60% Fall In Luxury Goods Sales Mean For Stocks?

Summary

We’ve been told that Brexit won’t matter. Unfortunately, the real economy didn’t get the message.

Brexit isn’t Bear Stearns. It’s far worse. We can expect accelerating real-world impact from Brexit.

Luxury goods sales weakness is a trend not a trade. It’s time to sell.

Introduction

Conventional wisdom is that Brexit won’t be significant for financial markets. But while it’s true that the S&P has bounced back, we are starting to see real-world evidence that Brexit will actually have a big impact. Yesterday’s luxury goods sales data, and the recent performance of precious metals, indicate that we’re dealing with a very significant event.

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