Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... What is American Goldilocks?
- Forget the 2-3-4%, we need GDP of 1% (but definitely not 0%)
- Earnings to “beat” beaten down expectations (and still be negative y/y)
- A Dovish Fed that pretends to be hawkish so they can go back to dovish
- The “but, but… the labor market is good” political narrative
- Stocks and Bonds near their highs for the YTD, at the same time
Yep. Don’t worry. We’re all in the 1% now."