One of The Ugliest Numbers Around Is Coming Out Tomorrow

Tomorrow should be a fairly heavy day for data.

Of particular interest will be real disposable personal income for February. We’re interested, in part, because this number has oscillated in a fairly rhythmic manner over the past several years, but with the general trend of lower highs and lower lows.

Lately we’ve been on a downswing, and if that continues towards the zero line, it will be worrisome.

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