We are getting unpleasant inflation surprises across the West again and the progress on inflation has even stalled in the Euro area. Can the consumer survive a prolonged period of inflation?
Something for your Espresso: Consumer strength deciding the magnitude of the inflation rebound
The lack of a strong consumer rebound in Europe will make the rising freight rates less prone to impact CPI indices, while it looks much more likely in the US.
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Steno Signals #25 – Is there any energy left in the energy trade?
Energy has been THE performer of 2022, but is there any energy left in the trade as commodity markets are turning bearish? We look at price action and fundamentals underlying the consensus trade #1
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Steno Signals #20 – NO soft landing unless central banks admit to disinflation
It is hard to find a single inflation indicator not rolling over, but there is ONE and that will be tricky to handle for the Fed. Meanwhile, European energy supplies are MUCH better than feared!
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