Much Ado About US Corporate (NIPA) Profits — The Equity/Bond Ratio Or The S&P 500 Index Tells You All You Want To Know About Profits 4 comments

Financial market commentators sometimes misrepresent the relationship between payrolls, equity prices and NIPA Profits, a severely lagging variable. Taken at the core, concurrent profits drive real-time equity prices, but we won’t see that until one quarter later.