Peak Manufacturing?

Conclusion

The March industrial production report was good, but missed estimates. It wasn’t great like the ISM PMI. The regional Fed indexes are the highest of this century. Used car & truck inflation will rise further if it follows the Blackrock index. The percentage of S&P 500 stocks above their 200 day moving averages was the highest ever, but that might be justified due to earnings revisions. Earnings revision breadth will probably fall back down soon along with the PMI.

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