Just a quick update here on some macro indicators.
The latest trend in jobless claims continues to point to more of the same with a steady trend lower in claims which means marginal improvement in the employment picture. This has been and continues to be one of the best real-time macro indicators we see with regularity.
More of the same in rail trends as well with the 12 week moving average in traffic coming in at 4.3%. That’s down marginally from recent readings, but still solidly positive. Overall, these trends don’t point to big changes in the broader macro trend in the economy….
![Cullen Roche](https://pragcap.com/wp-content/uploads/2022/01/Headshot2022-1-144x144.png)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.