The year-over-year growth rate for US Industrial Production Growth #Accelerated to +2.2% (29-month high) this morning. Somehow these hard data points never find their way onto Zero Edge or the Citi “Surprise” Index, but I digress…
With Reflation’s Rollover in full view for consensus now, I wouldn’t be at all surprised to see the momentum in this data series go from great to good (in rate of change terms that’s bad). Comps get modestly harder from here, so we will see.
Since we’re bearish on both Chinese and European growth in 2H17, I’d much rather buy real US centric growth (Tech, Consumer Discretionary, Healthcare, Housing, etc.) and stay short Energy, Commodities (Industrial Commodities), etc.
