Color War

(1) Green light: New record highs for LEI and CEI. (2) Yield curve spread in LEI remains solidly positive. (3) Amber light: Weak payroll employment growth-from slow recovery to labor shortages. (4) Fed’s Beige Book showing moderate wage gains despite tight labor supply. (5) “Shortage” mentioned 26 times. (6) Relaxing drug testing and training ex-cons. (7) Black & blue: The trade war morphs into currency war. (8) “Tariff” mentioned 31 times. (9) South of the Border: Incoming President ALMO not as radical as feared, so far. (10) Movie review: The Equalizer 2 (+ +).