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This Fed-based market signal is flashing a warning for the first time in over a decade. Here’s why it matters.

Bears are hoping this earnings-based stock-market predictor will be right — for once.
Business - MarketWatch - November 19
New York City Drought Warning Declared for First Time in Over 20 Years

The warning, which extends beyond the city to include 10 other counties in New York state, was announced as wildfires burned and residents continued to await meaningful rainfall.
Top stories - The New York Times - November 19

This Fed-based market signal is flashing a warning for the first time in over a decade. Here’s why it matters.