Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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As I like to remind people who do narratives instead of ROC numbers, all-time is a long time. The Manheim Used Car Index has NEVER #accelerated in OCT vs. SEP. This +9.2% sequential #inflation = +38.1% year-over-year inflation. Remember the time when PE Powell called out the “cooling off” of used car prices at his Jackson Hole Zoom? Lol Powell isn’t an analyst. He’s a politicized lawyer who is on the ropes after another one of his Fed Governor buddies, Randy Quarles, resigned as the Vice Chair of Supervision yesterday. |
