Industrial Production surged 0.9% MoM in December (almost double the 0.5% rise expected) and pushed the overall level above its Nov 2014 peak to a new record high.

The December beat was helped by a notable downward revision for Nov (from +0.2% to -0.1% MoM)

Worries about over-heating are starting to rise as Capacity Utilization hits a 3-year high.

Since the previous peak in US Industrial Production on November 2014, The Dow is up 46% and Industrial production is unchanged…