wow, after a very long time of stagnation, traffic is up over 13 % for the month of may. y-o-y (N. America)
traffic is up only 1.5% for the aussies
and is down 1.5% for Europe.
if we have a couple more months like that, the fed will get more aggressive with the rate hikes.
we will see if this is a short term fluke, or a significant positive trend.
Just about every economic indicator is pegged, or at least at multi-year/decade highs. Not likely a fluke.
so far, the long bond has not confirmed a significant pick up in economic activity.