Draining the Swamp is Not Easy
When you leave the Hose open.
But all that for another day. The important thing this week is the economy. Our view on the late January Market Top seem to be reinforced. How can an economic approach that includes moving money to the top and adding tariffs have a high growth end point. It makes no sense. So again, keeping it simple, out of stocks or short stocks, and long bonds would seem to be where we want to be.Atlanta FED
We have been waiting for the Atlanta Fed to update their First Quarter Forecast for First Quarter GDP after yesterday and todays economic numbers before we make todays post. For us it follows that lackluster growth is being seen based on the tax and trade issues.
Atlanta FED Latest forecast: 1.9 percent — March 14, 2018
The Atlanta FED GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 1.9 percent on March 14, down from 2.5 percent forecast on March 9. After yesterday’s Consumer Price Index release from the U.S. Bureau of Labor Statistics and this morning’s retail sales report from the U.S. Census Bureau, the nowcast of first-quarter real personal consumption expenditures growth fell from 2.2 percent to 1.4 percent.
The next GDPNow update is Friday, March 16. Please see the “Release Dates” tab below for a full list of upcoming releases.
Posted at 10:30 AM CDT