CHART OF THE DAY: Another Ugly Economic Indicator... Should The Fed Raise Rates?

09/21/16 08:32AM EDT

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.

"... Got the latest “transports” data?

  1. Class 8 new truck orders at the lowest level since August 2010 in both absolute and rate of change terms (-56% y/y)   
  2. NA total commodity carloads originated continues tracking down over -5% Y/Y since March 2015 – no bounce whatsoever
  3. Commodity carloads down -11% y/y. Largest commodity carload declines in Petroleum products (-22%) and Coal (-27%) which are obvious. Other areas of weakness are forest products (-7.5%), Metals (-6.1%), minerals (-3.6%), Farm/Food products (-3.4%)"

So maybe the Fed should “raise rates” today. That’s neither an empty nor a clever theory. That would just be dumb.

CHART OF THE DAY: Another Ugly Economic Indicator... Should The Fed Raise Rates? - 09.21.16 EL Chart

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.