Recently, the narrative used to explain or excuse the recent performance of US stocks and bonds is that the US economy is slowing. The crystal ball gazers are seeing something that just isn’t there in the real time data. If anything, the economy has started running hot again. Whether it undergoes a normal short-term economic pause here, or breaks out into runaway growth, remains to be seen. But there’s no sign of any material slowing in real time tax collections data. Non-subscribers, click here for the rest of the story.
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