Japan Machine Tool Orders, the best leading indicator of the global industrial cycle, accelerated in January. And recent data suggest the backlog at Los Angeles Port may begin to ease by summer. At the same time, the coming Federal Reserve rate-hiking cycle is a major wild card for investors. Darius Dale, founder and CEO of 42 Macro, joins Real Vision’s Maggie Lake to talk about why, according to his analysis, “deflation” is now equal to “inflation” as the dominant short-term market regime. Was the January sell-off merely a precursor to a larger correction? However the case turns, Fed Chair Jay Powell’s “right-tail hawkishness” means more volatility. Darius shares his thoughts on a murky macro picture and how specific assets are likely to perform under various scenarios. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3HESUe5