#Markets can be and often are misled, despite their alleged crowd wisdom.
Yet in this case, they're simply confronting central bankers and other political decision makers with the uncomfortable truth that elevated #inflation is about to ingrain itself into the global economy. https://twitter.com/johnauthers/status/1451568889083711503
5-year US inflation breakevens are now at an all-time high (the series goes back to 2002). Yes, they tend to move with oil prices, but they weren't this high in '08 when oil prices were much higher.
This 👇🏿
Many people tend to forget that having grown accustomed to #inflation at <2%, developed economies stand to experience a major recalibration even with inflation no higher than some 3% AND no action by central banks. https://twitter.com/elerianm/status/1415425384082931712
Per the @FT's @michaellachlan
On the Transitory #Inflation debate: @blackrock's #Fink joins those of us favoring an open mindset when assessing the nature/persistence of inflationary pressures
Larry's view is consistent with those talking to companies on what they see and expect
It'd appear we've nailed it re #inflation ever since the spring:
In case you were still in doubt about pent-up consumer demand:
We stick by our projection of persisting #inflation, signalling a complete new inflation cycle. All the ingredients are in place: Rising factor costs, a wall of demand, and, most important, massive fiscal spending. https://twitter.com/WSJecon/status/1377145024593285126
$AUD was standing on clay feet even before #Omicron arrived.
Together with technical indicators, the #Aussie now faces macro headwinds, too. The 1.60 handle against $EUR and 0.70 one against $USD will fall in no time, preparing the way for a resounding devaluation.
#forex
The #Aussie is extended beyond repair: Yes, it is the ultimate winner from the current, massive demand for #commodities; but just like equity #markets, the currency is now priced as if there couldn't be anything spoiling the picture. Prepare for a violent correction!
$AUD https://twitter.com/FXstreetNews/status/1452926543223836673
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