2015 ends with crappy retail sales and falling prices while 2016 starts with collapsing manufacturing
Even with seasonality there's nothing hiding in this data. It's poor. People may have been put off spending with an impending hike and manufacturing may have been hit by the short month but if we don't see a recovery next month, the proverbial you know what could hit the fan with expectations for the next hike
USDJPY has been whacked. Treasury yields have been whacked. There's a whole lot of whacking going on all over the place
You may remember me saying that rate hikes usually come at a time of an economy heating up, well if this keeps going, we'll have icicles forming ;-)
