CHART OF THE DAY: Weakening US Economic Data - #ADP Style

CHART OF THE DAY: Weakening US Economic Data - #ADP Style - z 05.07.15 chart

Editor's Note: This is an excerpt and chart from today's Morning Newsletter written by Hedgeye CEO Keith McCullough. If you're looking for a reliable way to stay ahead of consensus we encourage you to learn more and subscribe.

"...Despite weakening US economic data (see the rate of change in the ADP jobs report in today’s Chart of The Day), Treasuries have been down for 7 straight days. #EuropeanYieldRamp is the main reason why.

 

To be fair to the revisionist historians, they think this is all supply and demand and/or “fundamentally” driven by things like “higher inflation expectations.” I don’t. This is an outright panic-shift in market expectations."