06/04/2026
Weakening credit has foreshadowed deteriorating economic fundamentals in the past. When Consumer Staples relative to the S&P 500 perform, the economy and the markets have historically experienced a rough patch. We do not see any signs of trouble; however, the two are nicely correlated, so we will look for indications from both or either of these indicators for clues about the economy.
Past performance does not guarantee future results.