Editor's Note: Below is excerpt and chart from today's Early Look written by U.S. Macro Analyst Christian Drake. Click here to learn more.

#Quad4: After a likely nine consecutive quarters of accelerating economic growth domestically, investor consensus is positioned for the so called “fiscal impulse” to perpetuate further upside. Unfortunately for new-wave U.S. equity and credit bulls, our proprietary GIP Model is suggesting the now-record acceleration in U.S. growth (and inflation) that we prospectively and accurately identified two years ago is coming to an abrupt end. In the presentation we shall detail the catalysts for the aforementioned inflections and the associated investment implications – not the least of which is an anticipated upside capitulation in the U.S. Dollar.


CHART OF THE DAY: Bottom-Up View Confirms This Multi-Year Peak - CoD The 3Q18 Peak

CHART OF THE DAY: Bottom-Up View Confirms This Multi-Year Peak - early look