A chart summarizing the logic of the US stock market in the first quarter
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Overnight, the signals of stagflation in the United States have become increasingly strong, with consumer spending weaker than expected, core PCE higher than expected, and inflation expectations soaring (mainly from Democratic respondents)... If there is one chart that can summarize the situation in the first quarter, it is this one—Goldman Sachs' representative stagflation basket of long and short stocks has surged significantly
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