Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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Conviction in #Quad3? That only goes up with A) Inflation Accelerating for all of December and B) hard economic data (like the control group for US Retail Sales #slowing to a 7 month low on Friday) #slowing. With consensus buying what they shouldn’t in #Quad3 (Small Cap Stocks) and selling what they shouldn’t (Treasuries and REITS), our headline GDP Nowcast for Q419 just #slowed (again) to 0.36%. |
