CPI Misses Across The Board, Dollar Dives
CPI rose 0.1% vs est. 0.2%, according to the BLS.
Ex. food, energy up 0.1% vs est. 0.2%
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Incomes Flatline, Spending Barely Grows, PCE Manages Not To Be Catastrophe
Well, this could have been better.
A Midsummer Night’s Dream: European Inflation Hangs In There As Euro Imperils Stock Rally
“That could be interpreted as meaning that euro gains are excessive compared to the economic improvement in the region.”
‘It Can’t Be Helped’: Japanese Inflation Refuses To Rise Despite Bajillions In Money Printing
“The BOJ has done what it can with monetary policy. It can’t be helped.”
Gradually And Then Suddenly
“But, hey, we’re hitting our numbers just fine as it stands and, if you hadn’t noticed, our stock price hit a new high yesterday. Why mess up a good thing?”
Albert Edwards And 1 ‘Quite Amazing’ Chart
“This is quite amazing given where we are in the global economic cycle.”
It ‘Plunged More Than 50% In Seconds’: Treasury Vol. Index Hit Lowest On Record Friday
“All clear”…
This ‘Party’ Has To End Eventually – But ‘Eventually’ Isn’t Today
“…market participants are understandably worried about how they will be weaned off the current highly-liquid environment.”
The ‘Mystery’ Of The Missing Inflation Solved In 1 Chart
There you go: “lost” real economy inflation, meet “found” asset price inflation.
Risk-On Still Intact As Entire World Ignores China Stock Plunge: Full Visual Recap
All told, the mood remains “risk-on.”
‘Billions And Billions And Billions’: ECB, BoJ, And Your Full Week Ahead Preview
If you didn’t get your fill of hand-wringing over DM central banks last week, then you’re in luck…
Dollar, Yields Dive After CPI Disappoints
Ok, well the biggest econ print of the week is in and it’s a miss. You can read the full breakdown here, but suffice to say the CPI disappointment is another blow to the Fed’s “transitory” narrative and if this trend doesn’t turn around soon, they’ll need to come right out and admit that they…
CPI Misses (Again) In Blow To Fed’s ‘Transitory’ Narrative
CPI unchanged vs est. 0.1%, according to the BLS.
Ex. food, energy up 0.1% vs est. 0.2%
The Hurdle Is Lower And The Risk Of A Central Bank Fuckup Is Higher – Sound Good?
“…central banks may be slow to react to any potential signs of falling inflation, raising the risk of policy mistakes.”
One Trader Is Already ‘Outraged’ And It’s Only Monday
“I’m also outraged.”
