Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

Today is a new day.

On the two Factor Exposures that matter most (GROWTH and INFLATION) in my #process, my recent positioning for #Quad2 in Q4 in both the USA and Europe should be very easy to understand:

A) INFLATION isn’t “transitory”, it’s a TRENDING Asset Allocation that we’ve been long since June of 2020
B) GROWTH decelerated during #Quad3 in Q3 … and
C) Both my #process and the Bond Market are expecting it to re-accelerate in Q4

CHART OF THE DAY: Non "Transitory" Inflation Expectations... No Peak Here - 10 5 2021 7 17 49 AM