Keeping this week's macro update short and sweet...
Our proprietary macro index gave back a smidge this week, dropping 2.04 points to 14.29:
Three of our inputs improved, three declined. The relative magnitude of the individual score changes explains the slight pullback in our overall score.
Those showing improvement were,
U.S. Job openings:
Inflation Breakevens (inflation expectation reflected in the yield spread between inflation-protected and nominal treasuries):