In this edition of The Macro Show, Hedgeye CEO Keith McCullough and Director of Research Daryl Jones discuss the economic setup in Europe, their outlook on COVID variant concerns, and the Retail Sales base effect in the U.S.
"There’s no #Quad4 economic data, that’s absurd. Why is no one talking about that? Retail Sales is one of the largest components of GDP," explains McCullough as he highlights the importance of the Rate of Change of U.S. data prints.
“In my view, Eurozone data continues to look good because it’s lagging the U.S., they have more runway for recovery. They were later in their recovery than the U.S., and European inflation is more benign. Growth can accelerate for longer there – there’s a positive economic setup,” explains Jones, as he contextualizes our long Europe bias given the prevailing economic conditions (particularly relative to the U.S.)
