short-term economic data isn’t particularly cyclical, the expectations of investors and economists typically swing too far in the direction of recent news, which in turn creates cycles in economic “surprises” because not many periods contain an utter preponderance of only-good or only-bad data

short-term economic data isn’t particularly cyclical, the expectations of investors and economists typically swing too far in the direction of recent news, which in turn creates cycles in economic “surprises” because not many periods contain an utter preponderance of only-good or only-bad data