Below is a chart and brief excerpt from today's Early Look written by Macro analyst Christian Drake.
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I’m a fairly impassioned proponent of Socratic dialogues and rhetorical analysis. The use of the particular to reach universal consensus is uniquely suited to the mosaic crafting inherent to macro analytics. It’s also a particularly effective framework for crafting of a cogent narrative without much actual narrative while implicitly shifting the burden of proof to the other side. Let’s give it a go here this morning using the incremental domestic high-frequency data over the last few days. We won’t lead with any pre-text so as not to bias the interpretation. Simply internalize the data symphony below & see where your balance of risk assessment falls out at the end: Prices across the goods and industrial-manufacturing economy have been near cycle/all-time highs for 7 months now. Is 7-months ‘transitory”? With pervasive demand-supply imbalances still defining the labor market and supply chain conditions both locally and globally, is it reasonable to assume this (fully) resolves in the next month … or the next quarter? |
