Sentiment Vs Reality?

Disappointment of the week in the house of BNP Paribas. Click to enlarge, courtesy of BNP Paribas.

While the "mean reversion" fans in the US may be playing with the fire, cyclical hyper-ventilators are whispering:

"While the U.S. economic expansion is well set to strengthen in the near term, the current easing in WLI growth to a 25-week low suggests that growth will begin to throttle back by mid-year," said ECRI Managing Director Lakshman Achuthan.