One Step Forward, Two Steps Back

While January’s retail sales saw a modest rebound (+0.2% MoM), December’s were revised downward from -1.2% to -1.6%. Futures bumped slightly higher, presumably because a slowing economy protects the market from Fed tightening.  In reality, it was driven by continuing VIX algo-signalling. With key DJIA component Boeing off sharply in the pre-market, today could be … continue reading →