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A headline just came over via Bloomberg: CITI CITES FIRST WEEKS OF JAN FOR MACRO UNCERTAINTY VIEW.We don’t totally know the context, but obviously it’s a statement made on the call. We’ll read the full transcripts later.
But it is interesting in light of a couple of other datapoints.
Rail traffic, for example, plunged in early January in a stunning manner.
Last week’s initial claims data was disappointing.
And of course, retail sales have been dicey.
Other surveys continue to look strong, but… considering the level of bullishness and complacency out there, you might want to raise an eyebrow, at a minimum.