This week, we’ve got Green Shoots…
Upside surprises for earnings and economic data have allowed equities and Treasury yields to rally. In the earnings arena, of the 16 reports out as of this writing, 12 beat expectations, including heavyweights CSX, J&J, Goldman, and Intel. The economic activity data was similarly positive, with overall retail sales, industrial production and the Empire Manufacturing survey reports all beating expectations. And yet for all this support for a positive outlook, the IBD/TIPP Economic Optimism and Bloomberg Global Confidence indexes both fell, and…
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