Euro 1.59 Is Not Fun For Everyone...

Importantly, this morning's nasty slowdown in European Industrial Production growth was the May #, not that which is likely worse here in July.

The Euro Zone reported their largest month over month decline in Industrial Production growth since 1992, and at -0.6% year over year this marks the 1st negative growth report in 3 years.

European inflation continues to accelerate, despite the Euro strengthening, and this equates to more of the same. Global Stagflation is here.

KM