Solving the Mystery of the “Great Disconnect” | WHAT REALLY HAPPENED

Solving the Mystery of the “Great Disconnect”

On Monday, the Federal Reserve Bank of Dallas released its latest manufacturing survey. This wasn’t old, stale data; the survey was conducted in mid-July. And the results were awful, with the headline index plunging to -21 from -4 a month earlier. That was the worst showing in a year.

Yet the Dow Jones Industrial Average jumped 101 points.

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