Editor's Note: Below is an excerpt from today's Morning Newsletter written by Hedgeye CEO Keith McCullough. Click here to learn more, subscribe and get ahead of consensus.
As you can see in the Chart of The Day, one of the great leading indicators that your un-elected Federal Reserve refuses to put on their navel gazing “dashboard” is called the Yield Spread. Leading indicator for the rate of change in US growth, that is…
...With the 10s/2s Yield Spread down to +129 basis points wide this morning, you’ll note that puts it right around its YTD lows (and the Q1 2012 lows). Oh, and Q2 starts 1 week from today – March turning into April is another big time macro call I’m definitely going to make!