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Jul 08 2025

LEI: The “Fade” Of The Decade!

  • Jul 8, 2025

Bulls have more to cheer than the latest string of new highs. Another recession signal was issued in May by the Conference Board’s Index of LEI. Why cheer? In this decade, LEI has proven a superb contrary guide for stocks: Since 2020, LEI has been in recession mode 45% of the time, and SPX delivered +18% annualized during those months.

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About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager