Judging by the exuberant equity market, it is not 'low' gas prices, but high gas prices that are "unequivocally good" for America - after all the market is ultimate arbiter of how the average joe feels, right? However, if you drive a car - or gas-hungry truck - you may have noticed something in the last month or so - gas prices at the pump are up almost 25% from the mid-Feb lows, the biggest surge since July 2009.
While stocks love higher gas prices, as the chart suggests, however, US Macro 'fundamentals' do not andthe last time gas prices soared this far this fast marked the cyclical top in US macro data, tumbling almost non-stop for 2 years before QE2 was unleashed.
Comments
Log in or sign up to join the conversation.