Greetings,
United States: First, the CPI report surprised to the upside. Inflation continues to run hot.
Equities: Stock market pain continued after a worse-than-expected CPI report. We are 2% away from the S&P 500 going into bear-market land.
The Eurozone: ECB officials have signaled that an above-zero rate in 2022 is reasonable. This chart shows the market-implied trajectory of short-term rates.
Cryptocurrency: With Bitcoin failing to provide protection from inflation and stable coins losing their pegs, Coinbase sees its price continuing to crash.
China: The Hong Kong dollar fell to the weak end of its permitted trading band. The central bank intervened.
Emerging Markets: Some EM countries could enter a period of stagflation.
Food for Thought: Lastly, let’s take a look at gasoline prices around the world:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
