Stock market bulls, don't forget this one: Oil price shocks usually lead to a recession

Stock market bulls should show a little more caution, given how past oil price shocks have impacted the economy. Every US recession, excluding the COVID-19 pandemic, was preceded by an oil price shock, BCA Research chief global strategist Peter Berezin said in a new note (see chart below). "The current macro environment is a toxic brew of many of the same vulnerabilities that haunted the global economy in the lead-up to past recessions: Rising oil prices, an unsustainable tech capex boom, elevated equity ...