Are We Living In A Self-Regulating System?
Well, as noted on Monday morning by pretty much everyone on the planet (because this is the narrative now), the dollar is rising sharply, up five days in a row with the BBDXY shooting through its 100-DMA for the first time all year...
...and thanks in no small part to the greenback having resumed its correlation with 10Y yields:
In light of the fact that 3% on 10s went from "increasingly far-fetched" to "reality" (basically) in the short space of three weeks, that's probably not great news
You always knew it all along, but spend a few hours watching these documentaries to remind you just how “regulated” you really are.
The Century of the Self – Part 1: “Happiness Machines”
The Century of the Self – Part 2: “The Engineering of Consent”
The Century of the Self – Part 3: “There is a Policeman Inside All Our Heads; He Must Be Destroyed.”
The Century of the Self – Part 4: “Eight People Sipping Wine in Kettering”
Inflation won’t slow down as long as oil marches higher. Expect reads of higher inflation going to early May as oil peaks in the near term.