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Dueling Narratives: the US Economy vs. the Market
Hmmm . . . 2.1% What’s that you ask? GDP Well, not GDP, but GDPNow, that contemporaneous figure the Federal Reserve Bank of Atlanta prepares. Kind of a real-time distillation of economic data that tells you how things are going. A mercury thermometer if you will, maybe a turkey thermometer to tell you whether we’re over/undercooking the economy. Lately? The air seems to be cooling. chart Notice that dip? Down from a scorching 3%, after being impacted by manufacturing and consumer spending. Manufacturing no good? Yeah still in the doldrums. A really positive print in February (49.1 vs. the 46-47-ish prints in ... (full story)