This morning Keith McCullough and the Hedgeye Macro team hosted a flash call updating their view on the U.S. economy, discussing what is priced into assets after the recent sell-off and how to be positioned for the continued manifestation of #InflationAccelerating and #GrowthDivergences.
The presentation and replay information can be accessed via the links below:
PRESENTATION >> HERE
REPLAY >> HERE
KEY TOPICS DISCUSSED
- #GrowthDivergences: Since our 1Q14 Macro Investment Themes call on 1/9/14, the incremental fundamental data has continued to reflect a deceleration in the slope of domestic growth. We survey the latest income, housing, manufacturing and consumption data and the implications for equity and asset class positioning.
- #InflationAccelerating: Long inflation expectations and #GrowthSlowing has been the positioning playbook YTD with the CRB commodities index accelerating, Utilities and Healthcare leading sector performance and low short interest, low beta, and large cap style factors driving relative equity out-performance. We discuss whether to remain long this trend.
- Hedgeye Macro