Why Most Big Economies Don’t Move the World

Over the last decade, average S&P 500 futures movement around:

• Chinese industrial production

• German IFO

• Japanese Tankan survey

• UK GDP

…has fallen by more than 70%.

Meanwhile, U.S. CPI routinely produces 40–70 point ES swings.
Jobs data can shift entire monthly trend structures.

Why?

1. When capital controls exist, data loses universality.

2. When data is curated…