Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
Well, let’s start with what the Global Macro Market (no, it’s not just the Dow, in points, bro) is already telling you post PE Powell’s complacent economic commentary yesterday:
The slower it takes the Fed to wake up to the economic reality of our GDP Nowcast (at 0.51% headline GDP for Q4 of 2019), the faster the market is going to price in the Fed being forced to panic again (like it did at the start of 2019). |