Interactive chart below that compares leading government Q1 $NFA flow for this year versus last year:
For October we were down $19B YoY, November down $18B YoY and we got a slight recovery in December which registered a small $5B increase.
So for the 1Q just ended we are down $32B YoY in this leading $NFA flow which is going to make it difficult for the USD system based macroeconomy to exhibit YoY gains; and for firms to exhibit YoY gains in USD system based revenues/earnings.
CY Q4 reports should start to filter in over the next few weeks from U.S. firms and we look for a resultant weakness due to these disappointing YoY $NFA flows.
5 comments:
Great job, Matt. Nobody else is talking about this.
Only on MNE!!!
Charts look great Matt! This is a good visualization of the data I think. I am beginning to wonder why so many people are so optimistic about growth in 2014....between these lower $NFA and shrinking auto sales, I'm skeptical at best.
Please keep the flow info going Matt.
This is the focus not religion.
The FLOW must flow ...
Wonderful information.
Thank you !
Post a Comment