US inflation continues to rise, with no decrease in sight according to Zerohedge.
Since January 2021, inflation has not fallen in a single month, leading to an overall increase of 19% in less than four years. Additionally, the US has not seen a year-over-year inflation print below 3% in 36 consecutive months. The Fed's 2% target has also been surpassed for 37 straight months. This compounding inflation may have long-term impacts on the economy. Source: The Bobeissi Lezzer
The diagram below sums up well the demand case for silver in today's environment.
Source: Otavio (Tavi) Costa
The Bank of Japan (BOJ) has a real problem now as USDJPY surged up to 153 - a fresh 34-year-low for the yen against the dollar and below the level at which the BoJ last intervened...
Source: Bloomberg, www.zerohedge.com
Where US inflation is and where it isn’t 👀
Source: Yahoo Finance, Evan
Money market fund levels to record high of $6.111 trillion
Source: WinfieldSmart
The largest US banks are set to earn higher profits than expected this year
As the Federal Reserve looks likely to make only modest cuts to benchmark interest rates. Source: FT
Industrial Metals relative strength (vs. $SPX) ready to turn?
Source: Nautilus Research
Raoul Pal - Global Macro Investors (GMI) has shared this chart on X showing Global liquidity growing at a CAGR of 8%.
His view: "While everyone is worried about 3.5% inflation, the real issue is the ongoing 8% per annum debasement of currency, on top of inflation. Your hurdle rate to break even is around 12%, which is the 10-year average returns of the S&P 500...just to keep your purchasing power". Key takeaway: if you want to protect your purchasing power in a global monetary debasement, you have 3 choices: 1/ spend; 2/ invest into risk assets; 3/ invest into store of values
