Philadelphia Federal Reserve Manufacturing Index
The Distilled Perspective, 
By Patrick T Bulger, released 06/20/2025

Remains at -4.0 for the second month in a row.
Business Conditions, Capital Expenditures, Employment & New Orders:
All came in with readings weaker than last month.

And it seems like War is everywhere…

Portfolio Positioning Remains Defensive,
Black Swan potential remains elevated.

The view here is: 
Now is the time to be concerned for your portfolio positioning.

Hit the Ask Button to reach out, or book a call.
Link is in the header.

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