McCullough: The Fed Is Tightening Into a Slowdown

Hedgeye CEO Keith McCullough said falling long-end bond yields are a warning for stocks rather than a green light, arguing the market rushing to buy equities on lower yields is missing the underlying signal.
According to McCullough, falling long-end yields indicate the US has passed the critical peak of growth. He said third-quarter GDP, likely around 4%, marks the sequential high and is expected to be cut roughly in half from here.
"That means that the Fed is tightening into a slowdown," McCullough said.