No ‘V’ – US “Leading” Economic Indicators Barely Bounce After Biggest Crash In 60 Years

Great news America! Leading Economic Indicators ‘soared’ 2.8% MoM in May – the biggest monthly gain ever.

• The biggest positive contributor to the leading index was jobless claims at 1.9

• The biggest negative contributor was ISM new orders at -0.48

However, this bounce follows the record collapse in March and April…

Source: Bloomberg

However, for all those banking on a “V”-shaped recovery to match the market’s euphoria… it’s an epic fail…

If you look really carefully, you can see the “recovery“.

Isn’t this supposed to be leading?