The Texas-area manufacturing index from the Dallas Fed
- Prior was -1.5
- Manufacturing output +8.8 vs +6.7 prior
- New orders -1.4 vs -3.5 prior
- Prices paid +8.0 vs +1.2 prior
- Employment +4.5 vs +0.2 prior
That might make Dallas Fed Governor Kaplan a tad more hawkish but it's not going to move the market.
What's getting attention are the jumps in the expectations for six months in the future. The future production index, for instance, jumped 19.3 points to 52.3 from 33.0.
I'm not sure they're expecting Trump to make America great again but they're definitely expecting Republicans to cut regulation and taxes.
