Tuesday 12, April 2022
Images of the day
Metamorphosis ~ 𝘔𝘢𝘳𝘪𝘢 𝘗𝘭𝘦𝘴𝘩𝘬𝘰𝘷𝘢 pic.twitter.com/PyAjLQyAnx
— Futura (@Futura_Noir) April 6, 2022
Wrap
US CPI hit 8.5%. Oil (WTI front month) went up 6.8%, to above $100 a barrel again. Bonds were fairly subdued: supply shocks may yet provide enough tightening to avoid hitting full employment and the resultant change into excess demand driving inflation. It seems likely that the US economy may be approaching full employment. We are not there, but the bounce from the extreme slackness of Q2 2020 looks likely to overshoot, provoking an over-reaction from the Fed which plunges the world into recession … just as it did for every recession since 53-54, with the sole exception of the Covid panic of 2020.
Tweet of the day
You get two today!
The all-data log chart for US 10-Year Treasury Bond yields is the most important trend line of all time, ever, in any and all markets. pic.twitter.com/jtBPpxy9kQ
— Carter Braxton Worth (@CarterBWorth) April 11, 2022
I don't know about you
— Donald ski (@real_b4_) April 10, 2022
But if I'd just witnessed dead bodies and horrific War crimes.. I wouldn't look like this 1 hour later pic.twitter.com/HU13AqWgNi
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