In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough breaks down Oil and Copper’s (and their accompanying country allocations’) continuous ramp higher, and our league-leading Inflation Nowcast.
"If you’re just saying, ‘Oh, it’s only about Covid case counts!’ Well Russia has one of the worst case counts in the world, yet Russia’s one of the best stock markets in the world. That’s because the Russian stock market isn’t representing all the people that are getting jammed by that – it’s a bunch of oil and gas stocks.
It’s important to delineate the difference between what factors could be dominating in terms of Signal strength as opposed to the fundamental narratives that get you stuck.”
“We’re looking for 6+% Headline CPI in the 4th Quarter, which would obviously lead to some #Quad2 returns on the inflation side.”