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Unprecedented Data Divergences
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Unprecedented Data Divergences

I have to keep emphasizing that in my 40 years in the business, I have never seen so many divergences in the various economic data releases

David Rosenberg's avatar
David Rosenberg
Feb 15, 2024
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Early Morning with Dave
Early Morning with Dave
Unprecedented Data Divergences
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Highlights

  • The Fed targets PCE deflator, not the rent-heavy CPI

  • There is a wide-swath of divergences across the economic data

  • Global growth continues to disappoint

  • Valuations loom large over the S&P 500

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