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Bob Elliott, co-founder and CIO at Unlimited, warns that while market participants are focused on a slightly better-than-expected supply situation, inventories are being depleted at a rate that could result in a significant squeeze in the coming months.
Elliott previously noted that new orders for Boeing jumped in April but said backlog growth could postpone any impact on production levels, according to a recent article. He also observed that the housing market slowed before the uptick in long-end yields, referencing data like the March Case-Schiller index in a separate report. These views reflect Elliott's ongoing focus on timing mismatch between market events and their real-world effects.