When life looks like Easy Street, there’s danger at your door.
                – “Uncle John’s Band,” The Grateful Dread

U.S. economic data is putting us in a quandary along with the Fed, Fed watchers, analysts and traders around the world.

Yesterday, after the long holiday weekend, we might have expected some hint of certainty but we received instead contradictory data, which, in all objectivity, however, was quite positive for the U.S. economy.