Summary
We continue to be torn on the recession debate (timing versus magnitude etc). Don’t worry, this 🐿️ is not going to add to the self-serving / disingenuous / economically-illiterate macro takes emanating from Palo Alto last week.
CostCo’s latest ‘canned chicken’ earnings report induced a spontaneous gag reflex in the 🐿️. Joking aside, credible evidence of a significant economic softness and weakening labor market continues to stack up.
But how are payrolls numbers still so firm and are higher rates actually supporting the real economy?
To my second gag reflex inducing moment of the week - the 🐿️ is starting to get QQQ-urious. Don’t worry, it shall pass.
Acorn updates this week focus on grains (naturally!) and uranium.
Canned chicken is a thing?!?
We continue to be torn on the recession debate (timing versus magnitude etc). Don’t worry, this 🐿️ is not going to add to the self-serving / disingenuous / economically-illiterate macro takes emanating from Palo Alto last week. That…