10/15/24 08:04 AM EDT

CHART OF THE DAY: Inflation Expectations Indicators Rising

Below is our "Chart of the Day" and a brief excerpt from today's Early Look written by our Risk-Manager-In-Chief Keith McCullough.

So how about this new breakout in the correlation between Oil and the US Dollar?

A) These are 2 of the heaviest weights in my Global Macro Model
B) Their TRADE and TREND correlations just went big time POSITIVE

Why are they 2 of the heaviest weights?

A) Despite The Fed’s recent devaluation, the US Dollar remains the world’s reserve currency
B) Oil (WTI) has the #1 weight (marginal impact) in both our GROWTH and INFLATION Nowcasts

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