A gloomy mood is engulfing the globe.
Takeaway: Employment growth continued to slow from its 2.3% y-o-y peak in February 2015 to 1.73% in June.
For those of you out there who actually study #TheCycle (rather than blindly accept the manic financial media's headlines at face value) here's the key chart to consider. It shows the continued slowdown in jobs growth since February 2015.
Click images to enlarge
Digging a little deeper than just the headline 287,000 number... May was revised down from 38,000 to 11,000. As Hedgeye CEO Keith McCullough points out, in other words...
Here's the detailed breakdown to study today. As you can see, the key takeaway is...
In this excerpt from The Macro Show today, Hedgeye CEO Keith McCullough discusses who’s really getting paid in the current market and economic setup.
Hedgeye CEO Keith McCullough handpicks the “best of the best” long and short ideas delivered to him by our team of over 30 research analysts across myriad sectors.
Takeaway: If you don't do macro, macro will do you.
During his presentation of our top Q3 macro themes to our institutional customers yesterday, Hedgeye CEO Keith McCullough empasized the importance of understanding the cycle. The one-minute video below sheds addiitional light on this economic reality.
Click below to watch.
Takeaway: A closer look at global macro market developments.
Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, and rates and bond spreads. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products.
"Most things Commodities 'Reflation' have one thing to thank in 2016, and that's #GrowthSlowing => Dovish Fed => Down Dollar," Hedgeye CEO Keith McCullough wrote earlier this morning. "But what if the jobs print is 'good' (albeit slowing in TRENDING rate of change terms)? Dollar Up, Commodity Reflation Down?"
McCullough continues: "With CRB Index and Oil -5% and -10%, respectively, in the last month I’m sure glad I didn’t chase those April-May reflation charts. To be continued…"
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