5/6/2021 2:14:22 PM GMT
Outlook
Ahead of payrolls on Friday, today we get the usual Thursday jobless claims, likely a big drop. These two jobs reports may end a string of somewhat disappointing US data.
For fun, check out the statements from various Feds after TreasSec Yellen said the day before that conditions may well call for higher rates. Vice Chairman Clarida said the time is not ripe for such talk. Chicago Fed Evans said the chances of persistently higher inflation are remote. Boston Fed Rosengren copied Clarida with “premature.” This is precisely what you would expect.
But as some observers note, inflation expectations embedded in indirect indicators show the bond boys are still very much on the warpath. The 5-year breakeven inflation rate is 2.68%, the highest since 2008. Weirdly, the 10-year breakeven rate is lower at 2.47%. We have no idea what this means. At issue is the concept of “transitory.” These numbers suggest the market expects inflation five years from
ViewsMidEast by CartoonArts International for February 09, 2021
February 08, 2021
MartinPerry1 about 2 months ago
All the American intelligence agencies said that Iran was following the treaty. Then the Saudis rented floors of Fat Donny’s properties and suddenly, Fat Donny withdrew from the treaty. It’s incredibly hard to trust a country like the U.S. now.