The era of fiscal dominance
source: MacroAlf. Inflation-adjusted US fiscal deficits popping up at: - World War I - World War II - Great Financial Crisis - Covid - 2023 Find the outlier...
Eurozone inflation cools, setting stage for June rate cut:
Headline CPI slowed to 2.4% YoY in March from 2.6% in February below consensus forecast of 2.5%. Core CPI slowed to 2.9% from 3.1%, again below economists' expectations to reach lowest level in >2yrs. But there were signs that inflationary pressures have yet to ease in labor-intensive parts: Service Price inflation +4.0% YoY, unch from 4 preceding mths. (via DJ, Bloomberg thru HolgerZ).
Is there a chance for the us to start slowing down the pace of debt increase?
Well... think about this: "I'm the king of debt. I'm great with debt. Nobody knows debt better than me." - Donald Trump Source: Ronald-Peter Stoeferle, CMT, CFTe, MSTA
German inflation slowed to 2.2% in March from 2.5% in February as expected but core CPI more sticky.
Core inflation slowed to 3.3% from 3.4% in Feb. Source: Bloomberg, HolgerZ
Cartoon of the Day by Hedgeye
$34.6 TRILLION and counting... Are we past the point of no return?
Central banks cut rates at the fastest pace since heading into the pandemic.
Source: BofA, The Daily Shot
In May 2020, there were 21 countries with negative interest rates. Today there are none.
Sanity has returned to the global bond market... Source: Charlie Bilello
THE WEEK AHEAD... All eyes on inflation data + Powell speech on Friday
>>> In the US: 1. New Home Sales data - Monday 2. CB Consumer Confidence - Tuesday 3. US Q4 2023 GDP data - Thursday 4. February PCE Inflation data - Friday 5. hashtag#Fed Chair Powell Speaks - Friday 6. Total of 5 Fed Speaker Events >>> Inflation will also be the key theme in europe as flash CPI reports start to come in. >>> In Japan, the focus will be on the summary of opinions from this week's BoJ meeting as well as the Tokyo CPI, labour market data and industrial production. Picture via openart.ai/midjourney
