Its been a long time since we have had a typical macro cycle, so folks have forgotten that late cycles are a) slow moving and b) slowdowns don't go in a straight line. Recent data suggests the US economy has reaccelerated a tad after a softer Feb &

Its been a long time since we have had a typical macro cycle, so folks have forgotten that late cycles are a) slow moving and b) slowdowns don't go in a straight line.

Recent data suggests the US economy has reaccelerated a tad after a softer Feb & Mar. Retail sales first:

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David Cervantes @pinebrookcap · May 18, 2023

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Great thread. I got panned for saying this a few wks ago but it’s kinda working. I think it’s still early days for an upswing. We need to get through 2023 with no recession first, which becomes more the base case as the calendar goes on without one.

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