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Consumers are already cutting back on everything from school supply spending to real estate properties. With more macro headwinds on the way, things will only get worse from here.
Keith McCullough says what comes next should be obvious. “This is one of the top 3 easiest setups in 20 years,” explains Hedgeye’s CEO. “XRT is pretty much at the top of the range, real estate was last week. Once you get through this options expiration gamma squeeze, all this stuff’s going to be bag holder central.”
Be careful in Retail stocks. “Student loan payments come back on in October and consumers who make over $150K will have higher Social Security taxes,” explains Retail analyst Jeremy McLean in this clip from The Call @ Hedgeye. “It’s a time period of three to four months of deteriorating spending in discretionary retail.”
On the real estate side of the equation, REITs analyst Rob Simone adds: “The reality is tenants are dialing back their leasing activity and subletting space, and growth is slowing from astronomical levels.”
Watch the full clip above.
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By: Hedgeye Title: “Bag Holder Central”: Obvious Dropoff Coming in Retail & Real Estate | $XRT $XLRE Sourced From: www.youtube.com/watch?v=uXSkwt-bgJ4
