QI TAKEAWAY —  A massive inventory build in December makes the case for a U.S. manufacturing slowdown in the first quarter, furthering the industrial recession risk. Yield curves that bear flattened after Powell’s presser on…

QI TAKEAWAY —  Consumers are using more plastic to float essentials; higher rates are about to drive the cost to carry this debt higher yet. Banks are chomping at the bit to watch credit card…

QI TAKEAWAY —  Quiet growth risks continue to mount early in 2022. But give it a minute as the Fed is set to announce tighter monetary policy into the teeth of this slowdown. Be mindful…

QI TAKEAWAY —  Equity markets are due a for a bounce. Our favorite technician, Katie Stockton, who we can’t wait to see this week in New York and has been a stalwart proponent of being…

QI TAKEAWAY —  The quickening in the slowing data could be a head fake, but we doubt it. Especially headed into this potentially geopolitically critical weekend, we stress you leave your flattener trade on.  …

QI TAKEAWAY —  The remodeling cycle is turning. We are adjusting our long lumber call as a result. It’s time to take chips off the table. Per the Association of Major Appliance Manufacturers, home appliance…

QI TAKEAWAY —  The first-mover Empire survey revealed more evidence of the emerging industrial recession scare we’ve previewed over the last week. Empire also informs of spillover risk to the broader service sector, which dominates…

QI TAKEAWAY —  Financial market fear has fed economic fear in the post-pandemic episode. There may be limits to how tight the Fed can go given how closely these two fear gauges have come to…

QI TAKEAWAY —  The data are bearing out the hyper-sensitivity to rising interest rates, which is slowing the economy, most apparently in the most cyclical industrial sector. The moment of yield curve steepening giving way…