Here’s a good visual of the K-shaped recovery from the pandemic. This is the top 1/3 in income versus the bottom 1/3 (terciles). The K would likely get even more distinct if we looked at quartiles, quintiles, and deciles.More By This Author:Macro: Auto Sales — It’s All About Inventory Replenishment Macro: Inflation – High Frequencies And Crude Keep Powell Up At Night Macro: GDP Q3