Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
|
Empathize with me, peeps. Going both ways in macro markets isn’t easy. You have to be promiscuous and committed to the dating (or data-driven) scene. Don’t get upset about that. Get excited. This #Quad2 macro market affair between Janet Yellen and the economic data can get REALLY steamy if she is who I think she is (a labor economist) and gives the Fed a short-term fix to the growing US unemployment problem. Don’t imagine the impossible. Just probability-weigh what all the rich people who gave her new boss the Burning Bucks for the honeymoon. She can CTRL+Print Jobs Growth when combining the Treasury with the Fed. Remember, pre the Yellen #MMT jobs-for-all news, Hedgeye HAD US GDP ramping to an all-time modern-era Cycle High of +10.3% year-over-year growth during #Quad2 of Q2 2021 anyway! Then what? What happens to American Made #MMT in Q3 of 2021? Oh no, Mucker – did you have to mention it? The honeymoon and their riches deflate again into #Quad4 in Q3 of 2021… And then we buy our Gold and Treasuries back? REALITY: getting the Dollar right helps us get a lot of other things right. |
