Morgan Stanley says its indicator is designed to catch turning points in the economy
- it fell by 32 points in June
- drop is the largest one-month decline on record
- and the indicator is at lowest level since December 2008 (everyone remember what was going on then, right?)
MS says its signalling "June gloom":
- "The decline shows a sharp deterioration in sentiment this month that was broad-based across sectors′
- "Fundamental indicators point to a broad softening of activity, but analysts did not widely attribute the weakening to trade policy."
Via CNBC (overnight report hence the ICYMI)
