Economic data is showing no signs of weakness so far in 2023. If the economy remains strong, or even accelerates, then the Federal Reserve may have a harder time bringing inflation back to target. Despite this, inflation is still easing which takes pressure off businesses and consumers. For the first time in years, inventories are back to normal for small businesses. Companies are buying back stock. Bonds are behaving like bonds. Have NFTs lost their appeal?
1. Recent data has, almost uniformly, surprised to the upside:

Source: Daily Shot 2/16/2023
2. The Consumer Price Index (CPI) report was roughly in-line with the market’s expectations, but the strong Producer Price Index (PPI) report took the market by surprise:
3. Fewer businesses are planning to raise compensation as inflation wanes and the labor market loosens:
4. Consumer sentiment continues to increase:

Source: Daily Shot 2/13/2023
5. Americans’ biggest financial regret in 2022 was spending too much money, in 2023 they plan to increase savings:
6. A positive number indicates more businesses have too little inventory and a negative number indicates more businesses have too much inventory:

Source: Daily Shot 2/15/2023
7. Companies are increasing stock buybacks, at lower prices, as business results continue to hold up:
8. In recent months, stocks and bonds have stopped moving with one another:
9. Crypto prices are rebounding but demand for NFTs clearly has not: