Well, the CPI numbers are in, and I suspect Jerome “dual mandate” Powell is breathing a sigh of relief.
CPI Cools
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Near-Term Inflationary Plan
The 30yr Treasury yield has made its right side shoulder
Of course there is inflation.
We see it everywhere; the Fed’s printed (funny) munny and the government’s cost-pushing into the economy. Everybody knows that inflation is here and everybody has known since March when the last guy, still sitting on his couch playing lockdown era video games, figured it out.
And then ZeroHedge called the top with an assist from Larry…
Inflation This Week
The big economic data this week comes on Wednesday and Thursday mornings, at which time we get the latest data on how “transitory” inflation is behaving.
Because, as a reminder, the Fed’s insistence on providing trillions of dollars of fresh wealth to their billionaire friends is ostensibly to goose up inflation, which in turn is ostensibly oh-so-good for the average Joe, whom of course is Jerome’s main concern. Because, you know, dual mandate. After all, inflation has been utterly flat for decades, particularly once Dick Nixon took hold:
(more…)Inflationary Reflation
Macro Falling Into Place
Pretty please with sugar on top, let the markets correct
Because this week I did the very thing that exposes my dark side by shorting leveraged mid-caps (MIDU) and this morning got long a VIX vehicle (VIXY) while it was still negative. Before that I shorted the Euro (EUO) and longed the USD (UUP), which are sort of the same thing, and raised a lot of cash. When I have anti-market or bear positions and the markets get a kick save I get disturbed. It’s a psychological vulnerability I have.
I’d rather do this the easy way instead of the usual way bearish positioning goes. I will not make money if the market crashes, but I’ll lose a lot less of it as the portfolios are constructed right now. From here I have the option to go back to bull boy or increase bearish positioning, pending setups and indicators.
So… I am ready for it. I was out for the last 1.5 hours of the day and the last thing I wanted to see when I returned was the market up and that is for two main reasons:
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