And God Said “Let There Be Data: And There Was Data.”

And God Said “Let There Be Data: And There Was Data.”

It's Friday and God said, "let there be data: and there was data." Let's start in Europe, where inflation slowed to 1.3% y/y this month from 1.4% (final) in May. That's a bit higher than estimates. The core rate printed at 1.1% y/y, that's also a bit higher than forecast and higher than May's 0.9% number. So obviously that's nowhere near the mandate, but fuck it, that's fine because as Draghi said on Tuesday, in the statement that set the tone for the entire week, "while there are still fact
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One thought on “And God Said “Let There Be Data: And There Was Data.”

  1. If the EURO continues this unexpected climb, and it is exacerbated by further unexpected hawkishness from ECB (and weakness in other currencies), makes sense that it could be a real negative for German economics. They are so dependent on high-end exports, and increasingly reliant on US and China markets for these sales, a “rosy” EU picture and rate normalization that spikes the EURO could end up throttling the EU’s biggest economic engine.

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