While stocks surge ingloriously on the back of a credibility-less Fed (and hope that PBOC, ECB, BoJ will unleash QE-moar)...
[2]
S&P 500 forward earnings expectations are down 15 days in a row - that is the longest losing streak since the financial crisis. In fact, S&P 500 earnings expectations are down over 2% year-over-year.
[3]
The last time earnings growth expectation swung from positive to this negative was August 2008... and we know what happened next...
[4]
Charts: Bloomberg
