Economic surprises turning positive
The Citi Economic Surprise Index for the United States has turned positive, mere weeks after the worst reading in its history. We'll have a more in-depth look at this change on Friday, showing other times when it cycled from a period with extreme negative surprises to net positive ones. It was a moderately good sign for stocks, with the S&P 500 higher three months later 5 out of 6 times. It was mostly negative for bonds and the dollar.