DC Lite #92
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1. Existing home sales. Existing home sales surged by 9.5% (vs. -1.3% est) in February for the largest increase in a year and the biggest upside surprise since July 2020.
2. US Flash PMIs (II). "Inflationary pressures picked up in March. The rate of input cost inflation quickened to a six-month high amid faster increases across both monitored sectors."
3. Record inversion. "Today is a landmark day as last night we passed the longest continuous US 2s10s inversion in history."
See: TKer by Sam Ro
4. Up vs. down moves. "On a 1 month lookback, the spx has been almost twice as volatile to the upside than it has been to the downside."
5. 2024 EPS estimates. “The single quarter estimates suggest more vulnerability to downward revisions in the second half.”
