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McElligott Offers Nuanced Explanation For Macro ‘Green Shoots’
Mind the capex pull-forward effect.
That was one message from Nomura's Charlie McElligott who, in h
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This is a repeat of the wave of pent-up capex when DJT first took office. Busineses waited for his capex holiday to kick in so there was a lot of “dry powder” waiting to be deployed.
We’re also out of the delayed-profit-taking-sales-everyone-held-off-on-to-get-into-the-new-tax-year window (they had a sale on hyphens at Walmart). As an added bonus, SCOTUS is set to rule on Trump’s use of the IEEPA for tariffs by EOM. The days are getting longer. Spring is right around the corner. Orange juice futures are taking off. What’s not to love?