The PBoC has spoken and markets, at least for the time being, have listened. Coming
Category: inflation
Everything You Need To Know For The Week Ahead
Well, it’s Sunday which means normally, you’d be thinking about Monday, but this weekend you
Assuming You Think America Is Still A Democracy, Here’s How To Think About Markets & Trump
“In a democracy like the US the main impact of elevated political uncertainty is higher risk of inaction”…
“It’s Funny Because It’s Treason”: Global Markets Jittery As Trump Makes New Lows
We start Tuesday on a treasonous note… So because he’s President, Donald Trump gets some
Pay Attention! We Got China Credit Data Overnight
Ok, so it’s Friday. And before you get too excited about that, remember that all
“A Pretty Eclectic Collection Of Unrelated Developments”
SocGen’s Kit Juckes probably summed up the overnight session best: Overnight currency drivers have been
Traders Be Like “WTF?!” As Trump Is Desperate Despot, Nuclear War Beckons
So the elephant in the room is clearly Donald Trump’s decision to fire FBI Director
A Glaring Disconnect Or, The Most Important Thing You’ll Read All Day
“There are a couple of ways in which these disconnects can be resolved. But until they are, global central banks need to tread warily. One resolution is of course equities retreat and yields decline, recognizing the dearth of liquidity. “
From Rent, To Beer, To Cigs, To iPhones: Here’s How Much Shit Costs Globally
Well, this is funny. There’s no shortage of discussion amongst the financial punditry about real
Like Trump, Janet Yellen Is Preparing Ill-Advised “Preemptive Strikes”
“What if progress on core PCE is more limited despite labor market overheating, and the Fed’s dual mandate dilemma persists?”
Fed, Jobs, & France: Full Week Ahead Preview
Ok, so who’s ready for next week? That’s right, today’s Sunday which means tomorrow is
Euro On Track For Best Week Since June After Inflation Hits ECB Target
Earlier this morning, we noted that Japan tried to release a whole bunch of ostensibly important
Goldman Presents A Perfect Storm For S&P 500 Valuations
“Since 1985, an increase in the rate of inflation has led to contracting P/E multiples. S&P 500 forward P/E averages around 17x when core CPI is between the 2%-3% range but averages below 10x when core CPI rises above 5%.”
The March Deflation Mystery Is Solved. Hint: “Can You Hear Me Now?”
Let me preface this by saying that I have no idea how much weight to
Fortune Cookie Say: “Good Econ Data!” The Sultan Returns. Welcome To Monday.
Boom! It’s Monday. Let’s hit the ground running.
Easter Algos Dump Dollar After Dour Data Deluge
Earlier this morning the reflation narrative rolled over and died. That’s not just our dour
Uh-Oh. Core CPI Posts First Decrease In More Than 7 Years
So much for reflation…
“Nemesis Awaits”: Albert Edwards Warns Of Central Bank Hubris
” Now we have central bankers patting themselves on the back for having done a jolly good job. That surely is the most worrying, hubristic signal of all.”
Here’s Why You Should Have Stayed In Bed: Inflation Hooray, Bill Dudley Edition
On Friday morning we got some data you probably don’t care about. Or maybe you
Mind The Cross-Atlantic “Gaps”: Your Week Ahead Preview
Earlier, we talked a bit about Donald Trump’s waning political capital and the extent to
Presenting The “Real Bubble”
“We see real rates as extremely misvalued if not in a bubble. Real rates are far below (-2pp) levels implied by prevailing GDP growth rates, which have historically provided an anchor.”
“That’ll Work”: CPI Beats Ahead Of Fed
U.S. Feb. CPI Rose 0.1%, Above Est.
Retail sales less autos rose 0.2% in Feb., est. 0.1%
Goldman’s Warning: “The ‘Yellen Call’ Is Back In The Money”
“As Fed speak over the past few weeks makes clear, the ‘Trump rally’ has aggressively pushed the ‘Yellen call’ back into the money, as we feared.”
A Stunning Disconnect: Asset Price Inflation Versus Real Economy
Things that make you go hmmm…
High Cotton: Commodity Bets Soar To Records, Hogs Still Skeptical
“Bullish bets on oil, copper and cotton futures all hit record levels in January, according to data from the Commodity Futures Trading Commission that goes back to 2006. That was the first time in nearly a decade that this cross section of materials and resources established new highs simultaneously.”
Entire World Scrambles To Figure Out Why The Hell The Dollar Isn’t Stronger On Thursday
So what gives? Well, probably not a lot. It could just be everyone is taking a breather. But, in a testament to Nassim Taleb’s “narrative fallacy” argument, we have an overwhelming tendency to ascribe “causes” where there are none.
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