#Macrostr

ISM Manufacturing New Orders: 48.6 vs 55.1 (prior)

- You don't love to see this. 👀

ISM Manufacturing PMI: 50.3 vs 50.9 (prior)

- Still (barely) expansionary, which is good. But definitely weak. 👀

OPINIONS:

The new administration's Downsize and Deregulate with Deafening speed is already starting to show some real short-term economic pain.

"Reprivitization" policies should do well in the medium and longer terms, but will definitely require some time to take effect.

Risk assets and #bitcoin may be tumultuous for longer than they would otherwise have been without the current major administrative policies.

TAKE HOME POINT: