Talk is ... how shall we put it ... cheap.
Takeaway: You may want to stop reading now if you're a “data dependent” hawk.
Editor's Note: The excerpt below is from a larger institutional note written by Hedgeye CEO Keith McCullough.
...Drops -4 pts sequentially with Business Activity and New Orders dropping a remarkable -7.5 pts and -8.9 pts, respectively. Employment down -0.7 and barely holding positive at 50.7 as well.
From potential overheating to flirting with contraction in a single month with New Orders posting its largest sequential decline in 104 months. To review, if you broadly divide the economy into Services & Goods and do the data dependence math for August:
If you’re more into data point breadth, here’s a list that “data dependent” hawks should obfuscate or ignore:
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We receive a lot of book recommendation requests from our subscribers. Here's a list of some of the more thoughtful ones we've read recently here at Hedgeye (along with the person making the recommendation).
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.
...Yellen’s Fed is much shorter-term than that. If she does what the market is telling her to do right now (Fed Fund Futures dropped to 32% on a SEP hike), this will be her 6th pivot (hawkish-dovish-hawkish-dovish-hawkish-dovish), in 9 months.
What strategies should investors employ to build their wealth without drawdowns? Why are Wall Street banks getting crushed by Fed policy? How do savvy investors break down the complexities of the U.S. economy? In this special HedgeyeTV video, Hedgeye CEO Keith McCullough puts pen to paper and provides the answers to these important questions and many more.
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