There is no doubt that Wall Street has in the relief rally underway since late June been in an awful hurry to price in the peaking out of inflation and the end ... Read More»
The June US CPI data came in well above consensus while the July data, released last week, still shows CPI and core CPI rising at 5.4% YoY and 4.3% YoY.
US CPI... Read More»
The US bond market sell-off has continued and with it the increased potential for an inflation scare.
Still, there is plenty of scope for bonds to sell off mo... Read More»
The US Treasury bond market has started to sell-off in recent weeks, in line with the base case here of a steepening yield curve as a result of a post-lockdown... Read More»
Barbell Strategy of Cyclical & Growth Stocks
The base case remains that cyclical stocks will enjoy renewed outperformance, as they did for a period last q... Read More»
The Politics of COVID-19
The politics of the Coronavirus have become ever clearer. Domestically it is evident that Donald Trump wants to return to normal as so... Read More»
It is my view that cutting interest rates is not appropriate for fighting an epidemic.
But, unsurprisingly, this has not stopped the Federal Reserve cutt... Read More»
The worlds of politics and central banks are increasingly converging, just as fiscal and monetary policy have long since started to converge in the conduct ... Read More»
After a recent 25bp cut, Grizzle Strategist Chris Wood examines the economic data to determine whether further monetary easing should be expected. ... Read More»