There you go: “lost” real economy inflation, meet “found” asset price inflation.
Category: 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.
One Trader Is Already ‘Outraged’ And It’s Only Monday
“I’m also outraged.”
Global Stocks Are Happy. Gold Is Sad. China! I Found Some Inflation In Norway.
Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t
O, Canada! China?! Yellen Yellin’: Full Week Ahead Preview
Ok, well this should be an interesting week. We’ll get the BoC, which will make
Nomura: 3 Ways The ‘Goldilocks’ Market Could End (Now Cue The 3 Bears)
“Markets have been pricing in a Goldilocks scenario: benign growth, low inflation and slow central banks and therefore high valuations and low implied volatility.”
Jobs Report, Chilled Urine, And Kashkari’s Rib Roast: Full Week Ahead Preview
If you were following along last week, then you already know what to look for
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
Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk
Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone
Euro Surges On Draghi’s “Three Messages,” Dollar Eyes Janet, Yuan “Suddenly” Jumps
Boy, I’ll tell you what, if you’re a central banker and you’re going to say
“Fatalistic” Markets Give In To Summer Lull, Crude Chaos, Washington “Horror Show”
“In fact it’s odd how fatalistic people seem to be. We used to furiously debate where and when we’d find the canary in the coal mine warning of an imminent market reversal to pounce on. Now, there seems to be blanket resignation that the trend is your master.”
3 C’s: Crude, Carry, CPI And Your Full Week Ahead Preview
Ok, so it’s Sunday which, as we’re fond of reminding you, means that tomorrow will be Monday – right up until Trump does something that takes the whole of idea of there being a “tomorrow” off the table…
When Doves Cry: Kocherlakota Is Worried That The Fed Has Abandoned You
Allison Nathan: Narayana, if inflation fails to accelerate from here, is there anything that would convince you that the Fed should get more hawkish?
Narayana Kocherlakota: No.
Full Week Ahead Preview: In Search Of “Missingflation”
Markets will get a well-deserved break from scheduled event risks in the days ahead after
Call Janet Yellen A Dove One More Time…
“The bond market is speaking, but most aren’t listening. It is telling us that Yellen is tightening too quickly. Or at least, she is by no means anywhere near as easy as the popular narrative.”
Now They’ll Be More Dovish: Goldman Tweaks Fed Outlook After CPI Miss
“We now expect the FOMC statement to include a stronger acknowledgement of the recent soft inflation data, and our expectations for the Summary of Economic Projections have become incrementally more dovish.”
Gold Surges After Dismal Data; Do You Like Your Rate Hikes Dovish?
They better figure out how to make this hike extra dovish.
Trader: You’re Going To Regret Putting A Gun To Janet Yellen’s Head
“The economy may be doing fine and asset prices are roaring. As this column has discussed previously, inflation targeting is perhaps outdated monetary policy — but as long as that is still officially the goal, tightening tonight will soon be perceived as a potential mistake.”
Full Week Ahead Preview: Fed In Focus
Hopefully, the weekend gave you a chance to catch your breath after “Super Thursday.”
Yeah, So The Fed Is Going To Hike Into A Deflationary Backdrop
“But the inflation data has to be concerning, especially as long term inflation expectations have now completely retraced their post-election increase.”
“Goldilocks And The 3 Hikes”
“However, just like in the fairy tale, this perfect scenario is unlikely to last.”
Stop Chasing The Dragon: One Trader Says Central Banks Need To Abandon Their Mandate
“Any hint that targets are being abandoned or lowered would send a negative shockwave.”
Albert Edwards: “The Reflation Trade Is Trump-Inspired Fake News”
“The last time volatility in the US bond market was this low (and complacency this high), 10y yields spiked up some 150bp in only four months as part of Bernanke’s ‘Taper Tantrum’. “
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