No 'V' - US "Leading" Economic Indicators Barely Bounce After Biggest Crash In 60 Years

Great news America! Leading Economic Indicators 'soared' 2.8% MoM in May - the biggest monthly gain ever.

  • The biggest positive contributor to the leading index was jobless claims at 1.9

  • The biggest negative contributor was ISM new orders at -0.48

However, this bounce follows the record collapse in March and April...

Source: Bloomberg

However, for all those banking on a "V"-shaped recovery to match the market's euphoria... it's an epic fail...

If you look really carefully, you can see the "recovery".

Isn't this supposed to be leading?