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Editor's Note: Below is a chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

CHART OF THE DAY: USA (and China) #Slowing - z cc

Like USA’s growth and inflation data #slowing yesterday (and the Atlanta Fed finally dropping their US GDP nowcast from 2.73% towards where we’ve been since SEP of 2018), we data dependents also get Chinese economic data: 

  1. Chinese headline INFLATION (CPI) #slowed to +1.7% in JAN vs +1.8% in DEC
  2. Chinese Producer Price INFLATION (PPI) #slowed, big time, to +0.1% in JAN vs. +0.9% in DEC
  3. China’s Money Supply (M1) #slowed to +0.4% in JAN vs. +1.5% in DEC 

And Chinese Bank Loan growth continued to slow, despite plenty of US naval gazers hoping all of this “Chinese Stimulus” and “deal” tweeting was going to magically re-accelerate China’s #slowing economy.

CHART OF THE DAY: USA (and China) #Slowing - Where Art Thou Cowbell Shanghai Accord 2.0