Our proprietary U.S. GDP “nowcast” is lower than consensus. New economic data coming in continues to confirm our forecast.
As Hedgeye CEO Keith McCullough explains in the clip above from The Macro Show, Q3 of 2019 is looking to move more squarely into Quad 4 (growth and inflation both slowing).
That was a big reason why our Macro team changed its view on the Energy sector, just before its 6.8% decline last week.
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“When something starts to change – and hopefully you saw that last week with the difference between Quad 3 and Quad 4 – we’re very quick to change our positioning,” McCullough explains. “It’s not my job to lose my family’s hard-earned wealth.” |
Watch the full clip above for more.
