Created by: Sam Tenney
- US Composite PMI has dropped to 55.4, a large drop from the market consensus 59.2 expected reading. Along with other recent misses in economic data, this shows a slowing of the US economy to normal levels.
- The Citi Economic Surprise Index has reached negative levels again for the first time since the Covid pandemic. The Economic Surprise index tracks the deviation of economic data from expected data projections, if the index is positive that means data is generally better than expected.
- Yearly net equity issuances have hit all time highs, reaching $230 billion in net equity issued for the past year, as compared to the tech bubble which had $140 billion in net equity issuances at peak. This is likely due to record IPO and SPAC offerings for 2020, which seems to be reflected in the data.
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