According to a note by the bank's research team
They are mainly talking about this set of data points that was released yesterday.
The note mentions that the economic sentiment indicator dropped for a third straight time from 17-year highs reached in December and that it shows a worsening sentiment in services, manufacturing, and retail.
However, they do say that optimists will argue that the indicator is still at a very high level - which points to a solid expansion of around 0.7% q/q. But they add that this loss in momentum may eventually start to weigh on markets moving forward.
This is something similar to what was highlighted here earlier. And when something like this is starting to catch on, it shows that it's plain for almost any one to see.
