As Bruce Springsteen once mumbled, financial markets are goin’ down.

Equity market indices like the S&P 500 and the Dow Jones Industrial Average have been pummelled over recent months along with the NASDAQ Composite Index and the SMART Money Flow Index.

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And we know that housing in the form of existing home sales have declining YoY for the last 8 months.

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But also goin’ down is Markit’s CMBX BBB- index. Note that the CMBX BBB- index started declining back in July. CMBX is a series of indices, designed to reflect the creditworthiness of commercial mortgage-backed securities (CMBS).

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Brains are readily available. Let’s see if The Federal Reserve acquires some.

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