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The data is improving and that should be a good thing.
I've variously argued (both on this platform and on my site) that the most important takeaway from last week was also the simplest. US equities hit new highs even has bond yields rose.
Here's a simple chart I used in my traditional Sunday week ahead preview that illustrates the point:
(Heisenberg)
2019 has been all about the "disconnect" between stocks and bonds, with the former refusing to roll over despite the latter arguably yelling "recession".
Of course, the purported "discrepancy" isn't hard to explain.