CAB reaches another historical high. After pausing 12mos (Mar 2015-Apr 2016) the CAB has reached a series of successive new highs since. Employment levels, Real Retail Sales and Real Personal Income have also trended thru a series of successive new highs.
Trump’s win has every Momentum Investor falling over themselves as they shift from abject pessimism to nearly unbridled optimism. Commodity prices and 10yr Treasury rates have risen sharply with this change in expectation. Value Investors have been and remain invested. The rise in the infrastructure and related issues thus far is likely to be met with higher gains the next few years.
Brian Wesbury issued new commentary: Big Boom for Stocks