Friday, March 4, 2016
Mixed Data - New Orders vs. Construction
Manufacturing New Orders have declined recently.
While Private Construction continues to expand.
DOW - A Resumed Rally? Or Beginning of Recession?
Two conflicting messages come from these charts. The above chart has the DOW still above a long term channel. The below chart shows the IPO revenue and numbers of issued is declining like in previous recessionary periods. If the DOW breaks the support it would confirm the IPO message.
Inflation Metrics
All measures of inflation are firming from a low level in the US. If commodity prices stabilize and wage growth continues to show strength, then the FED will be much more comfortable raising rates.
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