Most recent trends point to a combo of outright deflation in the producer leg paired with short-term cyclical optimism. It almost sounds too good to be true given what we have been through. Hello, Goldilocks (for the time being).
Something for your Espresso: Ooooops, there goes the service sector
The Philly Fed NBOS survey revealed a weakening service sector for the first time in this cycle. Is this the final shoe to drop? The UK meanwhile remains the laggard on inflation.
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Something for your Espresso: PPIs speak loudly
The Canadian PPI continued its landslide yesterday and it makes you question whether BoC was too quick re-accelerating the hiking cycle. Meanwhile, markets keep coping with USD issuance.
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