Thursday, January 16, 2020

It looks like President Trump might be winning more than everyone thought.



In a possible preview of a coming Trump economic miracle, and one day after POTUS signed the ‘phase one’ trade deal with China, and the Senate passed the USMCA, the Philly manufacturing survey just exploded. It looks like President Trump might be winning more than everyone thought.

Philadelphia Fed Manufacturing Survey (Jan) printed at 17 vs consensus estimate of 3.8. This is spectacular number and completely unexpected. Is it an outlier or a harbinger of things to come?