New cycle high and a new 196 month (16 year) high. Clearly, this data is too “soft.”
Current Conditions ↑, Expectations ↑, Job Sentiment ↑ … pretty much every sub-index reflecting a similar epic ramp. We’ll see if the momo can be maintained against this comp and the rise in MSM fiscal agenda angst headlines.
Beware of the political noise… and stay data dependent, my friends.
KM
