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There Is No New Bull Market In Retail Stocks, And Target Stock Proves It

The narrative around the strength of the consumer economy is, simply put, nonsense. The reality painted by retail stocks, particularly the SPDR S&P Retail ETF (NYSEARCA:XRT), is quite different.

With surging credit card rates, student loan payments resuming, and revolving credit at new highs, it’s only a matter of time until consumers really start to pull back hard. The longer rates stay elevated and the more that consumers totally disregard the cost of capital, the more painful and sudden a pullback in consumer spending likely becomes.

Let me explain.

This post appeared first on InvestorPlace.