Twenty-Four Hours Before the New Federal Reserve Chairman Publishes His First Dot-Plot — the Chip Cohort Confirmed the Cleanest Leadership Rotation of the Year, Crude Held the Sunday-Night Unwind Through the Cash Session, and the Bond Market Quietly Began Pricing a Disinflation Tail the Cable Channels Are Still Refusing to Take Seriously
A Tuesday morning note on the verified Monday close of the chip cohort at fresh highs into the FOMC week, the United States Oil Fund proxy giving back another 3.4% on Monday after the Sunday-night gap-down held, what May retail sales at 8:30 AM Eastern and Industrial Production at 9:15 AM Eastern will tell the buy-side about the durability of the disinflation tail, why the Lennar print before the bell is the cleanest single-stock read on the housing-turnover constraint that has held Home Depot and Lowe’s sideways all year, and what the 1937 analogue tells you about how Kevin Warsh should weight a Producer Price Index print whose drivers are unwinding under it in the same forty-eight hours.
