2024-06-19 22:40:00 ET
Summary
- Real Retail Sales are holding at an elevated level, very likely due to consumers being forced to abandon the many small retailers not reported.
- Industrial Production continues to move sideways at a level similar to prior peaks.
- The equity markets are currently responding to recession fears and hitting new highs by an absurd amount of capital crowding into the top 10 issues.
Industrial Production reported a positive surprise. However, several analysts have announced the beginning of the ‘next recession’ in a 2yr series of such announcements based on the PMI and other factors such as the dramatic inversion in the Yield Curve....
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Data Still Murky